As anyone who has followed the foreclosure crisis closely knows, there is currently a loophole in federal bankruptcy law that allows John McCain to protect his second through seventh homes and yachts and planes if he were to declare bankruptcy, but doesn't allow you and me to save our primary residence that we live in. Barack Obama has called for closing this loophole, Joe Biden has called for closing this loophole, and John McCain has defended it to benefit his banker buddies.

So, of course, I was thrilled last night to see Joe Biden press the McPalin ticket on this really important policy distinction, when he suggested that the GOP ticket opposed this important protection for homeowners. When Gwen Ifill pressed Palin on this point of whether she was opposed, she denied it, saying, "No, that is not so."

ABC News has this story this bombshell story up on their Political Radar blog, and the McCain campaign is already backtracking and trying to spin away Palin's answer, but it's revealing a deeper truth.