Today, Obama Is Copying A Clinton Housing Proposal He Originally Opposed
WASHINGTON, Oct. 14 /PRNewswire-USNewswire/ -- The following was issued by the Republican National Committee:
(Logo: http://www.newscom.com/cgi-bin/prnh/20080519/RNCLOGO)
Obama's New Plan To Impose A 90-Day Moratorium On Home Foreclosures Copies A Proposal Put Forth By Sen. Hillary Clinton Back In January:
Today, Obama Is Proposing A 'Three-Month Moratorium On Foreclosures.' Obama: 'For those Americans in danger of losing their homes, today I'm also proposing a three-month moratorium on foreclosures.' (Mark Halperin, 'Excerpts From Obama's Economic Speech In Toledo, Ohio,' Time's 'The Page' Blog, thepage.time.com, 10/13/08)
As Part Of Her Economic Stimulus Plan, Clinton Proposed A 90-Day Moratorium On Foreclosures. Impose '[a] 90-day moratorium on subprime foreclosures and an automatic rate freeze on subprime mortgages of at least five years.' (Hillary Clinton For President, 'Clinton Unveils Aggressive Plan To Jumpstart U.S. Economy,' Press Release, 1/11/08)
FLASHBACK: Clinton Attacked Obama In An Ad For Not Supporting Her Freeze On Foreclosures:
Clinton's 'Trouble' Ad Said She Called For 'A Freeze On Foreclosures. Barack Obama Said No.'
Obama Pushed Back Against Clinton's Ad, And Even Posted A New York Sun Article On His Website That Criticized Her 90-Day Moratorium:
Obama For America Website: 'Obama's Mortgage Plan Received Praise Over Clinton's Foreclosure Freeze, Which Was Called 'Disastrous' And 'A Fairy Tale.'' (Obama For America Website, factcheck.barackobama.com, Accessed 10/13/08)
'New York Sun: Some Critics Say That Clinton's Plan 'Could Actually Make Market Conditions Worse.' Clinton's 'plan to rescue homeowners with a $30 billion federal aid package on top of a 90-day ban on foreclosures and a five-year freeze on interest rates for subprime mortgages could actually make market conditions worse, critics say. Private companies may be less likely to lend if they know the government can come in and override the deal, some conservative scholars warn, or they may add costly premiums to account for the uncertainty.' [NY Sun, 3/25/08]' (Obama For America Website, factcheck.barackobama.com, Accessed 10/13/08)
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SOURCE Republican National Committee
