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Old 10-10-2008, 10:09 AM
 
Location: Zurich, Switzerland/ Piedmont, CA
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Im convinced the only vote he wants is the fringe extremist vote.

McCain faces conservative backlash over mortgage plan - CNN.com
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Old 10-10-2008, 10:12 AM
 
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McCain and one of his economic advisors have already said it will most likely be much more that $300 billion
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Old 10-10-2008, 10:16 AM
 
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Hence the reason for my other thread http://www.city-data.com/forum/2008-...-election.html
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Old 10-10-2008, 10:17 AM
 
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I think McCain was trying to score points with the homeowners who are defaulting on their loans. I was surprised with his plan also but with the criticisms and pressure from his party, he will probably can his plan. The greedy homeowners have to be punished!!! He gave a very liberal (Joe Biden) solution - not good. He must trust his friend, Joe Biden.

BIDEN DURING DEBATE!!!!!
http://www.cnn.com/2008/POLITICS/10/...te.transcript/

BIDEN: Well, mortgage-holders didn't pay the price. Only 10 percent of the people who are -- have been affected by this whole switch from Chapter 7 to Chapter 13 -- it gets complicated.
But the point of this -- Barack Obama saw the glass as half- empty. I saw it as half-full. We disagreed on that, and 85 senators voted one way, and 15 voted the other way.
But here's the deal. Barack Obama pointed out two years ago that there was a subprime mortgage crisis and wrote to the secretary of Treasury. And he said, "You'd better get on the stick here. You'd better look at it."
John McCain said as early as last December, quote -- I'm paraphrasing -- "I'm surprised about this subprime mortgage crisis," number one.
Number two, with regard to bankruptcy now, Gwen, what we should be doing now -- and Barack Obama and I support it -- we should be allowing bankruptcy courts to be able to re-adjust not just the interest rate you're paying on your mortgage to be able to stay in your home, but be able to adjust the principal that you owe, the principal that you owe.
That would keep people in their homes, actually help banks by keeping it from going under. But John McCain, as I understand it -- I'm not sure of this, but I believe John McCain and the governor don't support that.
There are ways to help people now. And there -- ways that we're offering are not being supported by -- by the Bush administration nor do I believe by John McCain and Gov. Palin.


I also addressed this at

http://www.city-data.com/forum/2008-...ml#post5623092
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Old 10-10-2008, 10:17 AM
 
69,372 posts, read 55,509,868 times
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Quote:
Originally Posted by 18Montclair View Post
Im convinced the only vote he wants is the fringe extremist vote.
The plan is already law, it was in the last bailout bill..
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Old 10-10-2008, 10:20 AM
 
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this plan is not new. it is already the law, enacted in the july bailout bill. (proposed by the democrats by the way. if you are a democrat and you are horrified, then you need to be horrified by what both parties voted for).
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