“As president of the United States,” McCain announced, “I would order the secretary of the Treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes — at the diminished value of those homes and let people be able to make those — be able to make those payments and stay in their homes.”
In the Liberals-versus-Conservatives debate, this McCain proposal will be used for many years. Here we have a Conservative of the first rank proposing to bail out the people who purchased homes they could not afford.
As McCain's judgement goes, this is damning.
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