McCain Rebuked for Comparing Mortgage Plan to Clinton

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http://blogs.abcnews.com/politicalradar/2008/10/mccain-rebuked.html

ABC News' Teddy Davis and Arnab Datta Report: John McCain was rebuked by an aide to Hillary Clinton on Thursday for inaccurately comparing his mortgage buy-up plan to one proposed earlier this year by the former first lady.

"It's wrong to suggest the new McCain plan is what Senator Clinton proposed ," said Clinton spokesperson Kathleen Strand. "She and Senator Obama are focused on helping struggling homeowners and holding bank lenders responsible. . . Senator McCain's new plan calls for bailing out and rewarding irresponsible bank and mortgage lenders, while sticking taxpayers with the bill."

While discussing his mortgage buy-up plan in an interview with ABC News' Charlie Gibson, McCain said, "in fact, Sen. Clinton has recommended this."

While Clinton has proposed directly helping homeowners by having the government buy and resell mortgages that are in danger of foreclosure, her proposal would force financial institutions to take a loss.