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Academic

: Essentially Contested America

John McCain?s New Bailout Proposal

By Henry L. Chambers, Jr.

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During last night’s debate, John McCain unveiled a new bailout proposal called the McCain Resurgence Plan.  That plan would require that the Treasury Department buy certain individual subprime mortgages then reissue affordable fixed-rate, government-backed mortgages to homeowners based on the home’s current market value.  McCain’s stated goals, to stabilize home prices and help people who may otherwise lose their house, are laudable.  However, [...]

Full post as published by Essentially Contested America on October 08, 2008 (boomark / email).

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