Conservatives Dumping On McCain's Bailout Plan

  Some conservative pundits and bloggers are "scratching their heads" over John McCain's latest mortgage bailout proposal.

  During the last presidential debate, McCain said the government would spend $300 billion to buy up bad mortgages.

  According to Politico, The government would purchase mortgages directly from homeowners rather than from banks, and replace the homeowners’ current payments with “manageable fixed-rate mortgages” designed to keep people from defaulting. Taxpayers would cover the difference in cost between the old mortgage and the cheaper one provided by the government.

  Quote: “Folks, forget about all this policy wonkery,” National Review’s Andy McCarthy advised in the magazine’s online blog, The Corner. “McCain's policies have driven us crazy for years.”