[lbo-talk] NYT: Dems, McCain differ on whom should get bailed out, analyst says

[B.]

[Here's the huge issue that's still not being covered
on major lib blogs! Like DailyKos, which is a one-note
Pro-Obamania sounding board. Maybe it will get covered
now that the Mighty One has weighed in on it? And
almost no one is linking it to homelessness vs.
highest US home vacancy rate since 1956, when records
began. -B.]

The New York Times

Parties Differ on Whom Economic Aid Should Help 
By EDMUND L. ANDREWS

Published: March 28, 2008

[...]

Mr. McCain and the Bush administration, meanwhile,
have staunchly supported one of the biggest government
interventions in the last century: the Federal
Reserve’s decision to lend as much as $400 billion at
rock-bottom rates to banks and Wall Street firms.

The Fed’s rescue operation involves a sum many times
more than Democrats proposed spending on homeowners,
and it comes on top of a host of other injections of
government money into the economy. First came the
bipartisan economic stimulus package, which this year
alone will provide about $152 billion in tax rebates
and temporary tax cuts to help spur consumption.

Then came a series of moves to greatly expand the
roles of Fannie Mae and Freddie Mac, the giant
government-sponsored mortgage finance companies.

And this week, the Federal Home Loan Bank Board
decided to lend an extra $100 billion to member banks
for mortgage financing.

In a speech this week, Mrs. Clinton compared Mr.
McCain’s approach to that of Herbert Hoover, and said,
“I don’t think we can afford four more years of that
kind of inaction.” Mr. Obama, laying down his own
marker on Thursday, declared that “the free market was
never meant to be a free license to take whatever you
can get.” 

[...]

http://www.nytimes.com/2008/03/28/business/28regulate.html?_r=1&th&emc=th&oref=slogin