Obama Press Release: Clinton Supporter on Clinton Idea: Stupid

[Obama Campaign Press Release from March 27, 2008]

From: Bill Burton
RE: Clinton Supporter on Clinton Idea: Stupid

Interesting reading in the Washington Post today — major Clinton fundraiser and signer of the letter to Speaker Pelosi on superdelegates, Steve Rattner, wrote an op-ed calling one of Hillary Clinton’s signature proposals “stupid.” From the op-ed: And we need to avoid panicking into stupid responses, such as proposals for mandatory moratoriums on interest resets or foreclosures that would interfere with contracts between lenders and borrowers and risk long-term damage to mortgage markets.

Full op-ed here: [LINK]

Background: Senator Clinton has called for a freeze of at least five years on subprime adjustable rate loans and at least a 90-day moratorium on foreclosures and stated that if a rate freeze and moratorium could not be agreed to voluntarily, she would introduce legislation to require it.