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Friday, December 07, 2007

Iowa Insider: Clinton: Bush plan on mortgage crisis "designed to help as few people as possible"

Excerpted from this post at Iowa Insider

Democrat Hillary Clinton is bashing President Bush's plan to address
the mortgage crisis, calling it "so meager as to barely register." "It
is designed to help as few people as possible," Clinton told Iowa
reporters in a conference call Thursday. She said Bush's plan for a
five-year freeze on rising mortgage rates allows lenders to decide if
a homeowner gets a rate freeze or will pay a substantially higher
rate. "The president should know that this case-by-case approach does
not work. It's resulted in only 1 percent of sub-prime loans being
modified this year," Clinton said.


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