McCain Flip-Flopped On Mortgage Crisis
In the second presidential debates John McCain said the government should buy up bad mortgates to allow people to stay in their homes.
“You know that home values of retirees continues to decline and people are no longer able to afford their mortgage payments. As president of the United States, Alan, 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.”
This sounds like a Democratic position, and a new one for McCain, who previously had a very different view. As recently as March 25, in a speech to the Orange County Hispanic Small Business Roundtable, McCain said:
“I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers.”
And he added:
:”I will not play election year politics with the housing crisis.”
He seemed to be blaming homeowners for borrowing too much:
“So many homeowners have found themselves owing more than their home is worth, because many never had much equity in the house to begin with. When conditions return to normal, GSEs (Government Sponsored Enterprises) should never insure loans when the homeowner clearly does not have skin in the game.”
And for the record, the “my friends” count was 19.
There go the conservatives. What an idiot…
October 8th, 2008 at 2:17 am
Guess what debate Barack won? Yeah, “That one!”
October 8th, 2008 at 3:50 am
Thank you for the count on “my friends”. I gave up.
Now, do you have a count of how many times Senator McCain said, “I know how to do …. “? That’s the new shot drinking cue for the next debate!
October 8th, 2008 at 8:57 am
The Feds dropped the bank’s key lending rate today. I wonder if they had done this a few days ago, how much money would have been saved in the Stock Market. Isn’t it funny now that Fox Noise controls the market things are all fowled up? Manipulated. Home prices are over valued and that’s why they are worthless. People who can afford a home won’t buy one because they know it’s over priced.
October 8th, 2008 at 9:14 am
Hello Alan Ad Amy and Christene and staff,
I sent you some pictures of me and Brenda at conventions.Thankyou for being Brenda & I’s
friend.
Sincerely W. Friendship
Ron & Brenda
October 8th, 2008 at 10:12 am
Thank God for Sean Hannity.
Hey Alan, why don’t you visit Bill O’Reilly and defend Barney Frank…in person.
October 8th, 2008 at 10:44 am
Cecil Jones,
I’ve explained about this matter in length before. Your comments are incorrect. People are buying homes, but they’re responsible and are buying what they can afford. Obviously you can’t afford to buy, and somehow that seems unfair to you.
October 8th, 2008 at 10:45 am
http://www.youtube.com/watch?v=p6KRXnYgu5I
October 8th, 2008 at 11:29 am
http://www.youtube.com/watch?v=55lOhYw8Lxk
October 8th, 2008 at 11:32 am
http://www.youtube.com/watch?v=SHFUa4SpPBU
October 8th, 2008 at 11:34 am
http://www.youtube.com/watch?v=_XgkeTanCGI
October 8th, 2008 at 11:39 am
from the right wing site The Daily Standard:
John McCain had a very strong debate tonight. It’s too bad for him that it came on a night when Barack Obama was nearly flawless.
http://www.weeklystandard.com/Content/Public/Articles/000/000/015/669lgumg.asp
October 8th, 2008 at 12:11 pm
[...] McCain Flip-Flopped on Mortgage Crisis October 8, 2008 at 12:49 pm [...]
October 8th, 2008 at 12:50 pm
Alan, you are truly a moron.
McCain proposed the H.O.M.E program back in March. Look it up–this is not a new idea at all, just one that he hasn’t been pushing.
I would expect a “commentator” to know these things.
October 8th, 2008 at 1:52 pm
McCain – the ANTI-Vet candidate
http://www.youtube.com/watch?v=xnvQ_4G8l4w
October 8th, 2008 at 2:02 pm
Since Mc’s so often for or against something before he’s against or for it, why doesn’t he just come out and say that he’s for everything, except the things he’s against, and he’s against everything too, except for the things that he supports?
And if asked about something specifically, he can just say he’s not going to answer questions the way the media wants, because he’s gonna straight talk to the American people, and speak the God’s honest truth.
Then just pop the top on a can of Bud.
October 8th, 2008 at 2:52 pm
Kara wrote: “Alan, you are truly a moron.
McCain proposed the H.O.M.E program back in March. Look it up–this is not a new idea at all, just one that he hasn’t been pushing.
I would expect a “commentator” to know these things.”
Please correct me if I’m wrong, but McCain’s plan back in March did not, let me repeat that, did not (channeling Biden), propose using government money to help homeowners. He proposed that mortgage lending companies should “pay back favors” to the government by offering 0% loans and other programs to homeowners.
October 8th, 2008 at 3:26 pm
Oh Alan there you go again. This sounds like the David Asman 1 hour special on foxnews last weekend explaining why/how the economic crisis is what it is? proves Obama, Chris Dodd, Chuck Schumer and other dems are the cause of this housing meltdown, where mortgages are packaged and sold in a box, then the boxes are put onto a pallet and the pallet is renamed and sold as a security thing worth so much $ but with ratings of risk from least with AAA, AA, A down to the most risky in the B’s
So whatever the thing that messed up, it made the value of the pallets equal to ??? and in financial computers thats an error so the financial computers crashed and they sold the things and the big democrat ceo’s took their cash, paintings on the wall, the expresso makers and whatever they could grab, and ran.
When it came time for the other people to receive their payment? nothing. they went to the office place? and its empty with a for lease sign in the window, thanks to democrats who were paid off to do nothing.
Its all in that David Asman special on foxnews and fox business.
So Alan you seem to be making a false anti propaganda movement telling people lies and saying its all McCains fault and he flip flopped when he didnt. you cant even get the details right, but wait, youre an expert that means you are intentionally misrepresenting McCains position in order to effect a US Presidential election, using your journalism credentials to make it yellow journalism. disgusting. Your mother and I expected more from you
October 8th, 2008 at 4:10 pm
Bradley, Your Republicans had the chance to legislate more over site on mortgage financials from 2000 to 2006 and did NOTHING! Look at S.109. The repubs NEVER even debated the bill on the floor. YOU GOT NUTHIN’!
October 8th, 2008 at 4:27 pm
Bradley wrote: you cant even get the details right,
90% of Alan’s post above is McCain in his own words. Maybe it’s McCain who can’t get the details right.
The bottom line is Alan is clearly not wrong about McCain suddenly adopting a very liberal position as a desperation move to win an election. What McCain didn’t realize, though, is that the same basic plan is in the bill he signed last week.
October 8th, 2008 at 4:59 pm
Alan, it’s not a “flip-flop”. It’s a “constant roll”.
Thank you.
October 8th, 2008 at 5:09 pm
A huge problem….not for Mc Cain…his goose is already overcooked, eaten, and we’ll be pickin on the carcus soon. It’s about the poor congressional candidates that were hoping to do some coat tail sailing into office. Are they supposed to abandoned the “fiscal conservative” core values they just stuck up for by downing the first bail out to now support McCain’s new mortgage buyout?
Yipes…country first, nope…..party first, nope….well, I guess it’s down to McCain firt…or should we say “this one” first.
October 8th, 2008 at 5:52 pm
I read the young man that broke in to the e-mail of Gov. Palin
Is also in to child porn! Is this true!
October 8th, 2008 at 8:04 pm
Jeffro: “Bradley, Your Republicans had the chance to legislate more over site on mortgage financials from 2000 to 2006 and did NOTHING! ”
so are you saying the republicans had the majority until 2006?
October 9th, 2008 at 1:28 am
He also pointed out that the McCain plan would reward lenders for bad behavior and give them no incentive to help homeowners. Well, I don’t think we can afford that kind of erratic and uncertain leadership in these uncertain times. We need steady leadership in the White House. We need a President we can trust in times of crisis.The most dramatic change in this race is the role reversal caused by the Mortgage crisis. When the campaign revolved around foreign policy, McCain was viewed as the steady hand, but as campaign shifted to the economy.
October 17th, 2008 at 2:47 am