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Monday, October 13, 2008

Irony Department

I know this is last week's news, but compare this:

McCain's Homeownership Resurgence Plan

The McCain Resurgence Plan would purchase mortgages directly from homeowners and mortgage servicers, and replace them with manageable, fixed-rate mortgages that will keep families in their homes. . . . The new mortgage would be an FHA-guaranteed fixed-rate mortgage at terms manageable for the homeowner. The direct cost of this plan would be roughly $300 billion because the purchase of mortgages would relieve homeowners of “negative equity” in some homes.

With this:

Yikes!  It's a big shadow!

Posted by Matt Bodie on October 13, 2008 at 11:17 AM in Current Affairs | Permalink

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