Thursday, March 27, 2008

McCain on the Housing crisis: Hoover was right

SANTA ANA - John McCain said Tuesday that he understood Americans' anger about the mortgage foreclosure crisis and was open to ideas for addressing the problem, but he rejected the sort of activist approaches proposed by his Democratic rivals for the presidency.

“He said that the best way for us to address the fact that millions of Americans are losing their homes is to just sit back and watch it happen. In his entire speech yesterday, he offered not one policy, not one idea, not one bit of relief to the nearly 35,000 North Carolinians who are forced to foreclose on their dream over the last few months." - Obama

"It sounds remarkably like Herbert Hoover,and I don't think that's good economic policy. You know, we have a framework of regulation. It needs to be updated and modernized. The government has a number of tools at its disposal that are well-suited for just this situation, and I think that inaction has contributed to the problems we face today, and I believe further inaction would exacerbate those problems." - Hillary

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