I posted about some of the ongoing changes and revisions to McCain's mortgage proposal, but it continues to change, and the latest is reported in Politico. However, this just reminds us of just how incredibly unstable John McCain is. This is John McCain shooting himself in the foot with no assistance from the Democrats just the way he did when he swooped into DC during the bailout, screwed things up at the photo-op, then got abandoned by members of the House. Now, he makes a big show of announcing "his" plan, which was not really his, during the debate, then having amend it on the fly after announcing it.
John, what was that about nailing jello to a wall?
http://www.politico.com/news/stories/1008/14414.html/snip
Sen. John McCain (R-Ariz.) made an overnight change in the homeowner bailout he proposed at Tuesday’s presidential debate, making it more generous to financial institutions and more costly for taxpayers. McCain's staff says it was always meant that way.
When McCain sprung his surprise idea at the start of the debate in Nashville, his campaign posted details online of his American Homeownership Resurgence Plan, which would direct the government to buy up bad home mortgages, allowing strapped people to keep their property.
The document posted and e-mailed by the McCain campaign on Tuesday night says at the end of its first full paragraph: “Lenders in these cases must recognize the loss that they’ve already suffered.” So the government would buy the mortgages at a discounted rate, reflecting the declining value of the mortgage paper.
But when McCain reissued the document on Wednesday, that sentence was missing, to the dismay of many conservatives.
/snip
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