More on the McCain Plan
MarketWatch had some additional thoughts on Republican presidential nominee John McCain’s $300 billion plan to have the government buy up mortgages.
People are poring over the idea today, but MarketWatch quickly has dismissed it:
After McCain suspended his campaign two weeks ago and rushed back to Washington to knock some heads together to get a rescue plan approved, he sheepishly admitted that he hadn’t actually read the three-page Paulson plan all the way through. And even though he voted for it, it sounds like he still hasn’t read it.
I’ll have more on the reactions today. But so far, according to MarketWatch, McCain’s bold new plan is neither bold nor new.