What's in the Daily News? I'll Tell You What's in the Daily News. I Am
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J. Bradford DeLong, "John McCain's new foreclosure plan is a giveaway to the banks": Tuesday night, reaching for a populist answer to the economic crisis that has put the country and incidentally his campaign on its heels, John McCain said that were he President, "I would order the secretary of the treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes - at the diminished value of those homes and let people be able to make those . . . payments and stay in their homes. Is it expensive? Yes."
Everyone - well, we economists - immediately asked: Just how expensive?...
