genegerue at ruralize.com
Thu Apr 10 16:19:30 EDT 2008
It didn't take McCain long to backslide from his assertion that he is
against borrower bailouts:
April 10th, 2008
McCain takes on economy: Mortgages, jobs, gas
Posted: 01:09 PM ET
NEW YORK (CNNMoney.com) — Sen. John McCain on Thursday offered his
most detailed ideas to date for easing the strains of the economic
downturn and the mortgage crisis.
In a speech to a small-business roundtable in Brooklyn, the
presumptive Republican presidential nominee touched on jobs, gas
prices and the need to make loans more affordable for homeowners.
McCain introduced what he is calling his “HOME Plan,” which blends
elements of mortgage rescue proposals by the Bush administration, the
Office of Thrift Supervision, House Financial Services Chairman Barney
Frank, D-Massachusetts, and Senate Banking Chairman Chris Dodd, D-
“It offers every deserving American family or homeowner the
opportunity to trade a burdensome mortgage for a manageable loan that
reflects the market value of their home,” McCain said.
More information about the Homestead