Obama was Actually For McCain's Plan to Buy Mortgages just 15 Days ago

It seems that even though Obama's surrogates poo-poo McCains plan to take $300 billion of the bailout and buy bad mortgages Obama was actually for this same plan as early as Sept. 23.

``We should consider giving the government the authority to purchase mortgages directly instead of simply mortgage-backed securities,'' Obama said at a Sept. 23 news conference.

Does his campaign minions even know what their own candidate is saying publicly? McCain pretty much proposed the exact same thing that Obama was advocating just 15 days ago.

Obama says as plain as day that the government should consider buying mortgages directly and not just mortgage backed securities. The Bailout Bill already gives them the authority to do so and McCain is suggesting that they do it. Anyway you look at it this is a "Help Main street solution" if I ever seen one. Even Democrat Barney Frank is in support of what McCain is purposing

On Sept. 29, Frank, chairman of the U.S. House Financial Services Committee, said the government should start buying foreclosed mortgages directly if the Treasury Department's financial rescue doesn't work.

Even two respected professors at Columbia are advocating for something similar to McCain's plan in the Wall Street Journal.

Columbia University's R. Glenn Hubbard, dean of the Graduate School of Business, and Chris Mayer, senior vice dean and Paul Milstein professor of real estate, suggested the same in an Oct. 2 opinion piece in the Wall Street Journal.

``We proposed that the Bush administration and Congress allow all residential mortgages on primary residences to be refinanced into 30-year fixed-rate mortgages at 5.25 percent, matching the lowest mortgage rate in the past 30 years,'' Hubbard and Mayer wrote. ``These mortgages would be backed by houses and the verified ability to repay the debt by millions of Americans.''

Maybe this is Obama's "He was For it Before he was against it" moment. Also I love how Bloomberg just tells things like it is like this. They aren't lying or redirecting anything. Those are Obama and Frank's words and the Obama Campaign just strait-up contradicted themselves.