McCain's "Simple Mistake" Reverses Entire Mortgage Plan
When you miss a detail as big as this, you have to wonder if the hand at the tiller is all that steady.
This phrase was originally in McCain’s plan: “Lenders in these cases must recognize the loss that they’ve already suffered.”
Well, that was wrong. Lenders won’t be suffering any losses at all. Instead, McCain’s plan calls for the government to buy up the mortgages at their current value and pass any losses onto the taxpayer.
“That language was mistakenly included in the initial draft and it’s been corrected. It doesn’t reflect the intentions of the initiative, which necessitated the correction and the removal of the sentence. A simple mistake.”
A simple mistake? Hardly. A simple mistake would be a few typos or the addition of the word “not” in an inappropriate place. This was an entire sentence that completely changed the intentions of the plan.
Big mistake folks, and it’s troubling to say the very least.