Legal Commentary

McCain's HOLC Moment

By Big Tent Democrat

Last night:

MCCAIN: Well, thank you, Bob. I just want to get back to this home ownership. During the Depression era, we had a thing called the [H]ome [O]wnership [L]oan [C]orporation. And they went out and bought up these mortgages. And people were able to stay in their homes, and eventually the values of those homes went up, and they actually made money. And, by the way, this was a proposal made by Senator Clinton not too long ago.

So, obviously, if we can start increasing home values, then there will be creation of wealth.

Sounds like an endorsement of a new HOLC. I hope that means Senator McCain will vote for it next year in the Senate.

By Big Tent Democrat, speaking for me only

Full post as published by TalkLeft on October 16, 2008 (boomark / email).