McCain campaign addresses housing crisis response

Senator John McCain’s (R-AZ) presidential campaign held a conference call today to discuss his recent comments regarding economic policy. Carly Fiorina, RNC Victory 2008 Chair, outlined McCain’s proposals to help homeowners. Specific plans included the Homeowner Program, where “worthy” homeowners could apply for governmental assistance to restructure debt. Fiorina said McCain also called for a Department of Justice task force to investigate lenders and speculators who may have contributed to the housing crisis. McCain also called for the government to stop filling the strategic petroleum reserve in order to alleviate gas and food prices, and he called for a comprehensive reform of the unemployment insurance program.

Some callers expressed opinions that McCain took a more aggressive stance towards the mortgage refinancing than he has in the past, but Fiorina responded that his new policies are consistent with his values and he is most committed to securing a bipartisan solution to the problem. Fiorina also said that McCain’s policy goes further than the Federal Housing Administration’s, with a 10 percent negative equity opportunity as opposed to the FHA’s 3 percent. Fiorina reinforced that McCain’s plan is focused on helping responsible homeowners.