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Friday, March 28, 2008

GOP's John McCain: Drops 'Roosevelt Republican' Rhetoric On Foreclosures

CLEVELAND (TDB) -- The Plain Dealer's political reporter Mark Naymik reports that he's caught GOP presidential candidate John McCain on tape in full waffle mode. Last month, as McCain campaigned and looked for support in foreclosure-wracked Ohio, the Arizona Sen. portrayed himself as a "Roosevelt Republican" of the FDR variety who would offer relief to homeowners facing adjustable rate mortgage increases. Naymik says that McCain's words in a California speech Tuesday struck a noticeably different tone, and "suggested homeowners facing foreclosure have only themselves to blame."

[UPDATE: 4:17 PM -- The Ohio Democratic Party has noticed and says McCain's "conflicting takes on the foreclosure crisis constitute the latest in an ongoing series of economic policy stumbles."]

So what did the Roosevelt Republican say to a group of California business leaders that was at odds with what he told Ohioans? Here's McCain in what some have called his Herbert Hoover persona:

"I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers. Government assistance to the banking system should be based only on preventing economic risk that would endanger the entire financial system and the economy."

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