Skip to comments.Obama Calls McCain Mortgage Plan ‘Risky’ (Thanks to you Obama it's all "risky")
Posted on 10/09/2008 6:02:08 PM PDT by tobyhill
DAYTON Returning to some of his tough, pre-debate language, Barack Obama this afternoon condemned John McCains plan for the government to buy bad home mortgages as McCains bailout for risk-taking banks and lenders, and described his approach to the financial crisis as risky and erratic, a word Mr. Obama used twice.
Speaking to several thousand Ohio voters at baseball stadium in this battleground state, Mr. Obama took new aim at Mr. McCains plan, which would allow millions of struggling Americans to refinance their mortgages with government help yet leave taxpayers to cover the losses rather than the banks or other institutions that hold the mortgage.
Mr. Obama particularly zeroed in on Mr. McCains intention to impose more risk on taxpayers than on the banks, because, under his plan, the government would pay full face value on the mortgage papers even if they had declined in real value.
(Excerpt) Read more at thecaucus.blogs.nytimes.com ...
Hillary’s not going to like that, Obama. it’s basically her plan.
So today, Obama gives a speech lambasting McCain's mortgage plan. His beef isn't that homeowners are being helped, but that taxpayers are being harmed. In other words, Obama scores points by saying McCain isn't doing the mortgage abrogation properly, not that he really objects to it. In fact, he had spoken of something like this some time ago. As a Marxist, he believes that people with no money own the houses they live in, and the banks who gave them the loans have no real claim to repossess them.
I'm for McCain, but only in a hold-my-nose to vote way. He's a patriot, no doubt, and he says he wants to cut spending, but here's $300 billion he just tosses out in a debate. Not an economic giant. Arrrggh.
“When McCain dropped the mortgage repurchase bomb at the debate, I muttered “panderfest” and went to another part of the house. It is something I expected from Obama.”
I wanted to throw my remote at the TV. We have a liberal and a flaming liberal as our two choices. Either way America loses (of course in one case the loss is much worse).
I think we can see Hill or Bill come out in public and piss in Barry’s cheerios any day now. Small comfort, though, given that our nominee has not only embraced socialism, but given it a big ole bear hug!
it is worth spending $1 trillion dollars to defeat Obama. I am serious.
We’re talking another Hugo Chavez with his ‘truth’ squads and brainwashed militant youth brigades.
mccain will still balance the budget and cut taxes (and not raise them on other people)
“Risky scheme” is the Algore term.
It was focus group approved for the Minister of Global Warming back when he was running for president.