“The rules are just there to benefit creditors, not debtors. It is in this world that those Halloween costumes make perfect sense. I love pointing out how passionate libertarians like Calabria have been all for the sanctity of contract when it comes to bankruptcy reforms like “cramdown,” but when it comes to the idea that all these mortgages are unsecured debt because of bank-led abuses in the chain of property records, they get angry at debtors, even though they are still holders of contracts.”
