Some days it seems like we live in an upside down world.
Today’s show fits in the category of “You can’t make this stuff up.” It’s just too bizarre for words, and it would be even funny if it were not for the fact that this is real.
Charlie Munger, who is Warren Buffet’s business partner is famous for saying “show me the incentive and I’ll show you the outcome”.
The latest bit of insanity coming out of the Biden White House is an idea whereby the government will charge a premium on borrowers with a good credit score in order to make it easier for those with a poor credit score to qualify for a loan.
You heard me correctly. This is the equivalent of taking points away from an A student and giving extra marks to a C student, to make things more fair.
The details are that a borrower with a credit score of 740 or higher will pay an additional fee ontheir residential mortgage.
Host: Victor Menasce