Same for folks that didn’t understand what a ‘mutual fund’ was composed of.
Yes but nobody lives in their mutual fund. Not directly. While equities are a big part of millions of Americans portfolios - they need a place to live.
The big push now is for “renegotiation” of mortgages - which in my estimation won’t work. At least not for the illegal immigrant berry-picker who “owns” an option ARM mortgage on a $650,000 note. So, he gets a 30 year fixed at six, so what? The balance sheet looks better, but he’s still nowhere near being able to pay that. End result is the same.
This is all quite apart from the consequences of further yet killing what remains of contract law, since NOBODY is going to loan at reasonable rates IF the loan can be retroactively altered ex post facto. See: “Widgets on sale, $2.00, if we had any...”