Thursday, October 09, 2008


Obama: McCain's mortgage plan shows 'erratic' leadership

(CNN) -- Sen. Barack Obama on Thursday slammed Sen. John McCain's new mortgage plan as "the latest in a series of shifting positions" and evidence of "erratic and uncertain leadership."

"He's ended up with a plan that punishes taxpayers, rewards banks, and won't solve our housing crisis," Obama said at an event in Dayton, Ohio.

At the second presidential debate Tuesday, McCain suggested that the government buy up bad home loan mortgages and renegotiate at the new diminished value of those homes.

Under McCain's proposed $300 billion mortgage rescue plan, much of the burden of paying to keep troubled borrowers in their homes would shift to taxpayers.

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