Economic Plans

McCain’s plan, to buy bad mortgages from people who can’t afford them, and then have the home owners pay back the new market value, is a give-away to foolish speculators. Obama’s right to hit him on the bail-out to banks, but Barack’s silence on the give-away to foolish home-owners is worrying (if predictable).

The latest news from Treasury, that the government is considering using the $700 billion to buy stock instead of subprimes, is promising. I’m glad someone is reading this blog!