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McCain Urges Bush To Buy Up Mortgages
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ShareOctober 23, 2008 12:41 PM
ABC News' Bret Hovell reports: John McCain called on the Bush administration to immediately start buying up bad mortgages from borrowers who can no longer afford to make their payments.
Calling these homeowners, "the working people who were devastated by the excesses of Wall Street and Washington," McCain seemed flummoxed that Treasury Secretary Henry Paulson hadn't pushed the Bush administration on his proposal.
"I call on the administration to act now and buy up these home loan mortgages and keep people in their homes," McCain said. "And why isn't the Secretary of the Treasury ordering them to do that?"
While McCain has touted his plan to have the government refinance mortgages at new, presumably lower value of people's homes for two weeks, his Ormond Beach, Florida speech marked his most aggressive and direct call for the Bush administration to act yet.
His urging came at the first stop of a trans-Floridian bus tour his campaign embarked on Thursday—which will stop in swing counties across the central part of the state – the all important I-4 corridor – including the Daytona Beach area, Orlando and Sarasota.
McCain hopes to make gains in this key battleground by portraying his opponent as an insincere calculating politician. In Ormond Beach, he repeated a new line of attack he debuted yesterday, that Obama will "say anything to get elected."
His charge is based on the Obama campaign's decision to tweak their tax plan in the wake of accusations that it amounted to welfare as ABC News' Teddy Davis reported. Obama economic advisor, Austan Goolsbee told Davis that shortly after debuting the tax plan, they added a work requirement to Obama's plan, which would give refundable tax credits to people who don't pay income taxes.
McCain has also been hammering Obama's runningmate on comments he made predicting that a young President Obama would be "tested" by America's enemies.
"I will not be a president that needs to be tested," McCain has said "I have been tested, Senator Obama has not been tested."
Today, however, he added a funny line about his loquacious friend and colleague on the opposite ticket.
"Yesterday, Senator Obama tried to explain away [Biden's] warning, by saying that his running mate sometimes engages in rhetorical flourishes. Really?" McCain said with a comically exaggerated inflection, as if he'd never heard of such a thing. "Really?"
"That's another way of saying that he accidentally delivered some straight talk to America," McCain said.
October 23, 2008 in McCain, John, Obama, Barack | Permalink | User Comments (56)
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SOCIALIST SOCIALIST!
Mccain I belive thats Socialism, And Mccain as I recall you have never been President when were you tested my friend in Senate and How?
Posted by: ANGIE | Oct 23, 2008 12:45:28 PM
Here is a very powerful video, a must see.
www.huffingtonpost.com/eric-hirshberg/republicans-voting-for-ob_b_136997.html
Posted by: becky | Oct 23, 2008 12:46:37 PM
McPoopy Pants was tested twice in this campaign. First, he chose Witless from Wasilla to be a heartbeat from the presidency. Second, he "suspended" his campaign to perform the greatest hummingbird imitation of our time. HE FAILED TWICE.
P.S. Norm Coleman called and asked why you could spend $150,000 on Witlesses' wardrobe but had no money to help his campaign?
Posted by: B. Bear | Oct 23, 2008 12:49:03 PM
I thought we already went through this spin of his. Wasn't it proven this would not work? Wouldn't we be losing a ton of money doing this, because we would be paying full price for a home that is at a lose right now? We would never regain our money back??
Posted by: becky | Oct 23, 2008 12:49:11 PM
erratic last minute lurching
sounds like socialism and spreading the wealth to me
Posted by: republican | Oct 23, 2008 12:52:35 PM
John McCain wouldn't know straight talk if it jumped up & bit him. His pathetic rhetoric is getting SOOO old it isn't funny anymore. Talk about how you plan to give the SAME tax breaks to the RICH just as George Bush has,and not to "Joe the Plumber". Everyone knows he is just a JOKE!! Palin certainly doesn't help his case either. Caribou Barbie is More of a JOKE than he is!!
Posted by: J W | Oct 23, 2008 12:53:13 PM
Comrade McCain you SOCIALIST!!!!!!
Posted by: JoeShmoe | Oct 23, 2008 12:54:25 PM
SOCIALIST JOHN McCAIN!
Posted by: Oh the irony! | Oct 23, 2008 1:00:39 PM
Angie, I agree - smacks of socialism to me.
Posted by: Already Voted | Oct 23, 2008 1:01:02 PM
We should not even think of buying up mortages.If the compnay screwed the buyer different story BUT if the buyer bought a house, a new car all new furnature and all the toys living on a pay check that was beyond his means ,NO WAY no one helped us,we bought and paid for our own.I am sick of hearing we should bail them out .A bit of advice you have NO payment more then a one weeks pay check,so if you need to pay it out all at one time you got the money.If you tried to stay up with the Jones ,got pg, and didn't plan all I have to say it TS>>>>>>>You know what thats life......Crap happens so learn from it and move on.
Posted by: NH voter | Oct 23, 2008 1:01:06 PM
Taking Tax Payers Money to buy up Bad loans that Banks Made is Not HELPING HOME OWNERS, Thats helping the Banks that made the Bad loans recover their Money back. Oh that Mccain always looking out for those Ceos of the Bank! wake up People Mccain could care less if you lose your home but he cares about those golden parachutes YOU BETCHA WINK WINK!
Posted by: Angie | Oct 23, 2008 1:01:17 PM
Quote from the "maverick":
"I cannot in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us, at the expense of middle class Americans who most need tax relief."
I GUESS HE JUST IGNORES HIS CONSCIENCE NOW?
Posted by: Oh the irony! | Oct 23, 2008 1:02:12 PM
Angie
You are soooo right. It's the Socialism that we've been warned about!!
As to his claim to have been tested, he was on alert on the USS Enterprise during the Cuban Missile Crises awaiting flight orders.
How a navy flier sitting on deck awaiting orders is considered passing the test, I don't know. By that logic, any service man or woman serving and on alert on 9/11 has passed the same test.
I am not disparaging anyone's service, but the test is actually on the person who has to MAKE the decision. Not the ones who carry it out, no matter how noble a duty that is. It is their job to carry out the orders of the Commander In Chief and they do it admirably.
Perhaps if he had been an advisor to JFK, that would pass the sniff test on this one. Otherwise, the only way to pass the test as President, is to be the President.
Posted by: This is SO Old | Oct 23, 2008 1:03:20 PM
I will not sit back and watch while this SOCIALIST tries to take our country from us!!!!!
Posted by: Dave in VA - REAL VA! | Oct 23, 2008 1:04:02 PM
Dave
Are you sure that you don't live in Communist VA where all the fake Virginians live? LOL
I love VA, beautiful place.
Posted by: This is SO Old | Oct 23, 2008 1:07:19 PM
He wants the fed to buy up the bad mortgages to stop the bleeding.He alson wants the feds to negotiate with the banks so both will be taken the loss.His plan includes to force the banks that recieve bailout money to revaluate the loans at current home prices.
Posted by: reddog0216 | Oct 23, 2008 1:08:16 PM
WHAT?
Johnny waving-my-"real"America-flag McCain is now promoting SOCIALISM?
But he just told us yesterday that was a bad idea?
I can't believe that people are still listening to this guy!
Posted by: Say it ain't so "Maverick" | Oct 23, 2008 1:10:01 PM
DAVE IN VA
Are you sure your in real VA Real Pro-America hahahahahahah JUST KIDDING!!
Posted by: Angie | Oct 23, 2008 1:12:18 PM
REDDOG
What you Just descibed is SOCIALISIM AT ITS BEST! AND MCCAIN IS A REAL SOCIALISIT!
Posted by: Angie | Oct 23, 2008 1:14:02 PM
I guess buying up bad mortages is good business not welfare.
Posted by: Gareth | Oct 23, 2008 1:14:53 PM
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