Via Ace Of Spades:
Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth.
So, those of us that didn’t buy too much house, lived frugally and made our payments get to pay for everyone who didn’t?
The move, if it happens, would be a stunning political and economic bombshell less than 100 days before a midterm election in which Democrats are currently expected to suffer massive, if not historic losses.
I guess we didn’t need that pesky rule of law thing anyway.
<Darth_Obama> I have altered the deal. Pray I do not alter it further.