Critics: McCain housing plan 'half-baked'

[cal04]

http://news.yahoo.com/s/politico/20081009/pl_politico/14430

John McCain’s surprise policy offering Tuesday night to have the government buy bad mortgages is bold, sweeping and, well, a bit perplexing to nearly everyone.

From economic experts to political pundits, from liberals to conservatives, the proposal has been greeted with a collective sense of puzzlement that is raising questions not only about the substance of the plan, but of the seeming hastiness surrounding its rollout.

The few details available about McCain’s American Homeownership Resurgence Plan gives the impression the plan is “half-baked,” according to Larry Sabato, director of the University of Virginia’s Center for Politics.

(snip)
“It would really frighten me if he actually thought this was good policy,” said Dan Mitchell, a senior fellow at the libertarian Cato Institute. “I assume that it’s nothing but a desperation ploy,” to show they are doing something “big and bold,” he said.

“It seems hastily put together … given the lack of detail, specificity, and overlap with existing programs,” added a Republican financial services lobbyist.

[CanonRay]

1. I know it's not true,

but it seemed like he thought it up on the spot.

[andym]

2. However a good plan like FDR's HOLC from Obama would be nice.

However a good plan like FDR's HOLC from Obama would be a nice response.