Horseshit — your logic could be applied to any asset. Should people not be allowed to pawn their cars or their jewelry so they “have enough for retirement?” What is considered “enough?”

Why should someone with 100% equity in their home be required to sell it to start a business. If anything, lack of available credit (with L-to-V percentages within reason) will just help those who are already rich and hurt the little guy.

And as far as government retirement pensions, Social Security is a system where people GET BACK WHAT THEY PAID INTO IT. I have absolutely no problem with such a system, and in any case, living on SS isn’t exactly living high on the hog. Isn’t is something like $15k/yr?