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Obama criticizes McCain on mortgage stand


Published: March 27, 2008 at 1:42 PM
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GREENSBORO, N.C., March 27 (UPI) -- Democratic presidential candidate Barack Obama has sharply criticized GOP contender John McCain for urging restraint on the mortgage crisis.

Campaigning in Greensboro, N.C. Thursday, Sen. Obama of Illinois said Republican Sen. McCain of Arizona would lead the United States down the same path trod for eight years by President George Bush, claiming "that government has no role at all in solving the challenges facing working families," the Los Angeles Times said.

In a Santa Ana, Calif., speech, McCain said that he would welcome ideas on weathering the foreclosure crisis. But, he opposed rewarding banks or small borrowers that have acted irresponsibly.

Obama proposes a fund to help homeowners avoid foreclosure along with a new mortgage tax credit.

Sen. Hillary Clinton of New York, his rival for the Democratic nomination, suggests a $30-billion bailout plan.

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