Tuesday, October 7, 2008

John McCain to Bail You Out?

In tonight's debate, John McCain just suggested bailing you out if you can't afford your house:

We're going to have to do something about home values. You know that home values of retirees continue to decline and people are no longer able to afford their mortgage payments. As President of the United States, Allen, 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 payments and stay in their homes.
Beginning to think I should have bought that overpriced condo last year.

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