Obama calls McCain mortgage plan ill-advised

DAYTON, Ohio (AP) -- Democrat Barack Obama is saying John McCain's mortgage buyout plan would cost taxpayers billions of dollars and reward bad behavior by lenders.

Obama says McCain's plan would force the government to absorb the full cost of renegotiating mortgages to prevent borrowers from losing their homes. He said lenders should share some of the costs.

He was speaking in Dayton, Ohio, on Thursday at the start of a two-day bus tour of Ohio.

Obama told thousands at a baseball stadium that McCain's plan "would guarantee that American taxpayers lose by handing over $300 billion to underwrite the kind of greed and irresponsibility on Wall Street that got us into this mess."

(Copyright 2008 by The Associated Press. All Rights Reserved.)


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to webmaster@wvlt-tv.com. Please provide detailed information.

powered by Disqus

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Gray Television, Inc. - Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 30688744 - local8now.com/a?a=30688744