On Oct 19, 8:52*pm, "
wrote:

Yes and if you want to look at borrowing against assets, many
homeowners who aren't in the top 1% of incomes could also refinance
their house, take money out with a new mortage at 3 to 3.75%. *That's
pretty close to the margin
loan rate, ie they can borrow at low rates too.

You're not comparing apples to apples. It costs money to refinance.
It's also a lot harder to refinance than it was before the bubble
popped. People that have less than stellar credit are between a rock
and a hard place.

Compare Donald Trump with your average schmoe. He views bankruptcy as
a game. That's a luxury that few can afford.
http://abcnews.go.com/Politics/donal...ry?id=13419250

R