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The Bankruptcy “Cram Down” – One Cure for the “Foreclosure Crisis”

Introduction The “Occupy Wall Street” movement represents a sizeable sentiment of angry Americans who wonder why the Government bailed out Wall Street while allowing the current “foreclosure crisis” to destroy neighborhoods and lives. Arguably, Congress could have averted this crisis if they had legislated a “Cram Down” provision for home mortgages in Chapter 7 and…