That was weird last night when John McCain announced that, when he is president, which will be the 10th of Never, he will spend $300 billion purchasing America’s troubled mortgages! Under the terms of the Treasury’s bailout, this is actually totally possible—though it’s not really clear what McCain meant he would do. (This was the second most shocking thing McCain said at the debate—the first was proposing that Meg Whitman, the former CEO of eBay, could become his secretary of the Treasury. This was horrifying, that a billionaire corporate marauder with little knowledge of finance could take such a position.) He sort of explains his plan on his website though!
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