McCain's Rescue Plan
| Thu Oct. 9, 2008 8:56 AM PDT
McCAIN'S RESCUE PLAN....It's now clear that John McCain's $300 billion homeowner rescue plan really does envision paying mortgage lenders full face value for their subprime loans, even though they've all cratered badly during the housing bust. How do we know? Because his website originally said that mortgage lenders would be required to write down their loans, but that language was removed on Wednesday. It was "a simple mistake," the campaign said.
But here's what I don't get: why? This was plainly a middle class pander, and not one that McCain would have been obligated to follow through on. This kind of stuff changes at the detail level all the time. So why include such a blatant giveaway for Wall Street? Even if you have some technical reason for thinking it's a good idea, it doesn't make any political sense at all. What's going on?
Advertisement
Advertisement
Comments
It's now clear that John McCain's $300 billion homeowner rescue plan really does envision paying mortgage lenders full face value for their subprime loans...
It's now clear that any ten names choses at random from the Boston white pages know more about the economy than John McCain.
Even W at least acquired a Harvard MBA (sadly he used his modest knowledge of the economy and business to enrich his buddies, but whatever...)
I think this meme has to be burned into everyone's brain: McCain does not care about domestic policy. At all.
He only cares about outranking his father and grandfather in the military chain of command. That's it.
To the extent that he does focus on domestic policy, it's simply a means to an end: getting elected. But when the usual ideological battles are thrown up in the air by a crisis that practically requires questioning the usual partisan ideologies, McCain is completely adrift. It's sad to say, but a guy that's been in Washington for 26 years has no idea what to do and is just flailing around for an answer.
Kevin -- You ask what's going? But isn't it clear?
John McCain isn't surrounded by people capable of thinking about "policy" - only "politics." He's got nothing - no ideas, no vision, no goals (except goals for himself). There's just nothing there.
Submitted by forty2 (not verified) on Thu Oct. 9, 2008 9:33 AM PDT.
Oh please. Am I the only one who thinks he made that "plan" up on the spot Tuesday night?
Even with his "Country First" crap -- it's been a failure because there's just nothing there. The slogan has nothing to do with policies that actually put the "country first." Rather it's all about McCain: "'I' put country first" vs. "the country comes first."
The "plan" probably wasn't made up on the spot, but the details were and are up for grabs. McCain wanted to announce something new and dramatic at the debate, knowing that the details, even crucial details, will get lost in the noise thereafter.
His entire team is made up of lobbyists.
Their entire job is to prove to clients what impact they have.
So somebody on the team is proving that they can get McCain to change key terms - it's a public demonstration of lobbying skills.
And since they aren't going to win, they need to keep honing those skills to pay the mortgage....
Submitted by Peter Schledorn (not verified) on Fri Oct. 10, 2008 4:44 AM PDT.
Why the change? Because he wanted a plan that Obama would oppose in order to have an attack point. When it turned out that Obama had already gone on record supporting something like the New Deal buyout plan which McCain's first proposal resembled, he had to change the plan so that Obama would oppose it. I am convinced that the only reason he made that proposal was to get an attack out of it -- and he has already used it.
Post new comment
MoJo Comments: Send Us Your Feedback
We changed our spam software to better filter comments. Should you encounter any issues, please let us know.
