Quote Of The Day: Why Obama Might Just Be Better Than Hillary Editionby Doug Mataconis
From last night’s debate.
First, here’s Hillary on the mortgage crisis:
I think it’s imperative that we approach this mortgage crisis with the seriousness that it is presenting. There are 95,000 homes in foreclosure in California right now. I want a moratorium on foreclosures for 90 days so we can try to work out keeping people in their homes instead of having them lose their homes, and I want to freeze interest rates for five years.
As I noted last month, this is a horribly bad idea.
Now, here’s Obama a few minutes later:
On the mortgage crisis, again, we both believe that this is a critical problem. It’s a huge problem in California and all across the country. And we agree that we have to keep people in their homes.
I have put forward a $10 billion home foreclosure prevention fund that would help to bridge the lender and the borrower so that people can stay in their homes.
I have not signed on to the notion of an interest rates freeze, and the reason is not because we need to protect the banks. The problem is, is that if we have such a freeze, mortgage interest rates will go up across the board and you will have a lot of people who are currently trying to get mortgages who will actually have more of a difficult time.
Now, I’m not saying Obama is acceptable but this strikes me as an indication that at least he’s not an obsessed socialist who would wreck the economy.