Save My Seventh Home

The current law (which became law in 10/05) does not allow the saving of a person's first and only home which is the issue for Democrats. I am not sure how many of the 6-10 thousand foreclosures in the USA per day are involved in bankruptcy procedures, but there are probably a great many.

I was unaware that there was a loophole in the bankruptcy law that allows the saving of a person's second through umpteenth home, plane and yacht. This is just another example of how our system treats the ultra rich differently from ordinary people.

During the VP debate Biden brought up this discrepancy and Palin responded that McCain did support restructuring the bankruptcy law to allow people to keep their primary residence. The McCain Campaign is now stating that she misspoke. But it is highlighting a specific difference that is a example of how McCain is for the rich and Obama is for the middle class.

ACORN, a liberal group which advocates on behalf of low- and moderate-income people, seized on Palin's seeming endorsement of the Obama-Biden position and is now trying to use them to pressure McCain to change his official position.

McCain has no plans to budge on this issue.

McCain likes to say that he is not a rich man. But we all know that he is married to a rich woman and shares in all her wealth.