Back on October 05, 2008, (see our story below of 05 October, "Feds missing crucial element to solve credit crisis" Luko News Review highlighted a key missing element of the Fed bailout program- shoring up home prices by keeping distraught homeowners in their homes !
Today three days later, McCain, as reported by AP- took Luko News Review's advice !
McCain would buy bad homeowner mortgages
Oct 8 02:46 PM US/EasternBy JIM KUHNHENNAssociated Press Writer
"I would order the secretary of the Treasury to immediately buy up the bad home-loan mortgages in America and renegotiate at the new value of those homes—at the diminished values of those homes—and let people be able to make those payments and stay in their homes," he said
It's my proposal," McCain said. "It's not Sen. Obama's proposal. It's not President Bush's proposal WRONG- Senator McCain- it was Luko News Review's proposal first !
Sen. McCain believes this is exactly the right kind of policy," Holtz-Eakin said. "Provide direct help to homeowners; at the same time, support the financial markets and keep them from further damaging the availability of credit to Main Street America, one of the—the real threats to the economy at this point in time
AP
Keep your eye on Luko News Review for news- 3 steps ahead of our leaders !
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