Joe Sixpack shouldn't have to pay for Rosie O'Donnell's home insurance. Yet as crazy as it sounds, the House Financial Services Committee next week is expected to consider lending a helping hand to the owners of some of the most exclusive properties in the country. If bailing out homeowners with upside-down mortgages was bad, this idea is much worse because it redistributes wealth from the middle class to benefit the superrich.
Thursday, April 15, 2010
More wealth redistribution.