In a Sunday satellite interview with KY3, the Republican Nominee Talks Up His $300 Billion Dollar Mortgage Bailout Plan, Calls Home Mortgages "The Catalyst" of the Financial Meltdown.
WATCH THE KY3 NEWS @ 10 REPORT HERE
***WATCH CLIPS OF THE INTERVIEW BELOW***
"We are taking care of the major institutions . . . why don't we take care of the homeowner?" McCain says the Treasury should take $300 billion dollars out of the federal bailout plan and put it towards buying out battered home mortgages.
"It's obvious additional measures need to be taken, that's why I'm going to make additional proposals." Barack Obama has criticized McCain's mortgage plan for placing the burden on taxpayers. Earlier Sunday, Congressman Roy Blunt also raised questions about taxpayer protections. McCain responds to this criticism, but is vague in explaining how bad lenders would be penalized under his plan. Also, he confirms reports that he'll be unveiling new economic proposals as soon as this week.
"I don't have any illusions that we're in a tough fight . . ." In our remaining time, we asked McCain about politics, specifically about why his lead in Missouri has been slipping in recent weeks and whether his presence in the Show-Me State means his campaign is playing defense.