Mortgage Jubilee!

[hoodoo]

A Bernanke Jubilee! Free homes for all!

http://www.bloomberg.com/apps/news?p...XcE&refer=home

I just can't believe this....

Hoo

[krakknisse]

Re: Mortgage Jubilee!

So I'm not actually the only one who's being looking up the true meaning of the word Jubilee. Stumbled over it during Wikipedia random clicking:
http://en.wikipedia.org/wiki/Jubilee_%28Biblical%29

You can say what you want about tinfoil hatters, but we're not your average J6Pers.

The bankers will of course never go for a Jubilee. So you'd have to see some very strong political expressions from the general public for that to happen. But AFAIK large organizations, maybe he's just testing the waters - "pondering the thought". The meme may be catching on.

[Mega]

Re: Mortgage Jubilee!

So, anyone can now cut the payment simply by stopping ALL payments!

Gee, i wonder IF ANYONE will NOT go this route?
Mike

[hoodoo]

Re: Mortgage Jubilee!

Yes, I remembered the word Jubliee from my Sunday School days. More recently the concept of debt forgiveness (Jubilee) has been promoted as a way of helping the poorest countries.

http://en.wikipedia.org/wiki/Jubilee_2000

If you google "debt jubilee" the top link is:

Jubilee Debt Campaign UK : Home : Drop the Debt
Calling for 100% cancellation of unpayable poor country debts.

Perhaps this concept will catch on if we drop the word "poor".

Hoo