McCain's plan wihich he discussed at the debate was to pay lenders the present market value of their loans and then renegotiate the loans with the home onwers. This would have made the lenders take the loss they so richly deserve for giving out loans they knew could never be repaid. NOW, his plan will buy the loans at face value, thus not making the lenders pay anything for their greed in making these bad loans. This means that the dfference between the face value the government will pay for these loans and the present market value that will be the starting point for making new loans to the home owners will be paid for by the tax payers. Sounds great for the bank lenders and the rich stock holders of these banks, but the rest of us will be given a very costly kick in the ass. McCain always finds a way to bail out the wealthy, just like in his tax proposals.

Senator McCain seems to be denying what his proposal would do, by the way. He is not being very specific.

By the way, did you get your info from Salon? If not, would you leave a link? Thanks

God Speed,

David