Biden's Flower Banking Theory...

"With regard to bankruptcy"....

Right now, in bankruptcy much of the debt is wiped out completely or pennies on the dollar to unsecured creditors. That hasn't stopped people from lending. Allowing the court to reduce the amount owed on an asset isn't all that much different from the way it works now, only expanding it to primary homes. In most cases state bankruptcy rules already exempt primary homes.

If a house is forclosed, the bank gets the house. ASSUMING that the bank was not derelict in its duties in assessing the value of the house in the first place, they will not have lost anything.

In Biden's flower world, lenders could lose big time through no fault of their own and with no bad judgment on their parts. The word "bank" would not be a part of the English language if Biden had written the US constitution. Nobody would be stupid enough to be in such a business.