Busted: Bankers and The Global Economy

March 26, 2008

McCain: A Radical New Mortgage Idea

mccain-mortgage-crisis-speech.jpgPresidential candidate John McCain has just proposed an earthshaking idea that is likely to infuriate bankers, mortgage profiteers and securities investors alike. In a speech on March 25, McCain proposed that the mortgage industry is responsible to return the favor of government support to reboot the housing market by offering zero percent mortgages to responsible credit-worthy borrowers. Somehow, this news managed to miss most of the mainstream press in lieu of “more newsworthy” sound bites. Most news services portrayed his speech negatively with the concept that McCain was not going to support bailing out borrowers in the mortgage crisis in the traditional sense.

“We should also convene a meeting (more…)

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