John McWaffle….
John McRino, who just last month drew cheers from conservatives and jeers from slackers for his tough stance on how to handle the sub-prime loan bailout, has reared his ugly RINO head again.
From Michelle Malkin:
Senator John McCain, who drew criticism last month after he warned against broad government action to solve the deepening mortgage crisis, pivoted Thursday and called for the government to help qualified homeowners with subprime mortgages refinance and get federally guaranteed 30-year mortgages.
“There is nothing more important than keeping alive the American dream to own your home, and priority number one is to keep well-meaning, deserving home owners who are facing foreclosure in their homes,” Mr. McCain said in Brooklyn, where he held a round-table discussion with small-business owners.
Mr. McCain, an Arizona Republican, said his plan would apply only to people who have subprime mortgages on their primary residences who could show that they would be able to meet the terms of a new, 30-year fixed-rate mortgage. He also called for the Department of Justice to investigate the lending industry.
Mr. McCain did not mention how much his plan would cost, but his economic advisers were scheduled to brief reporters later in the day.
Michelle figures this will cost the tax payers at least 3 to 10 billion….. Nice.
I’m imagining the phone call McRino got from the NYT. Ya know John, that’s not what we want to hear, so ya better change your mind on that.
This is just great. Reward a group of slackers and punish those of us who are not only paying our mortgages but are paying the taxes to bail their a** out.
