Boston Globe (10/10/08); Rhee, Foon
Presidential candidate Sen. Barack Obama, D-Ill., directly criticized the mortgage plan of Sen. John McCain, R-Ariz., for the first time while campaigning on Oct. 9, saying his opponent's proposal would punish taxpayers and not the lenders that helped create the mortgage crisis. Obama said he prefers to crack down on predatory lenders, keep the government from paying more than it needs for mortgages and allow bankruptcy judges to rework loan terms. McCain wants to spend $300 billion to buy mortgages from struggling homeowners and refinance them into more affordable loans. The plan has attracted criticism from other corners because it would not require the financial institutions holding the original mortgages to cover some of the losses.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment