Obama Press Release: RESPONSE TO MCCAIN ECONOMIC SPEECH: More of the same failed Bush policies

[Obama Campaign Press Release from March 25, 2008]

[This press release is a response to McCain's speech on the housing crisis delivered on March 25, 2008. A transcript of that speech is available here.]

RESPONSE TO MCCAIN ECONOMIC SPEECH: More of the same failed Bush policies

“It’s deeply troubling that John McCain is suggesting that the best way to address the housing crisis is to sit back and watch it happen – which is just further evidence that he would continue President Bush’s failed economic policies. Barack Obama believes that the job of a president is to lead—and that’s why he’ll work to help struggling homeowners and lenders rework existing subprime loans into affordable long-term fixed loans, create a foreclosure prevention fund to help keep Americans in their homes, close the bankruptcy loophole for mortgage companies, provide a tax credit for the interest on new mortgages, fight mortgage fraud at every level, and require that borrowers have access to accurate information about their mortgage options,” said Obama campaign spokesman Bill Burton.