Obama, Housing Policy, and the Ladies of The View

I just caught part of Barack Obama’s appearance on The View, where he was engaged in a rather wonky (for daytime TV, at least) discussion about the home mortgage crisis. 

Barbara Walters drew a contrast between Obama and John McCain, saying Obama wants more federal assistance for people losing their homes, while McCain wants less.

In elaborating their positions, Obama said, “McCain said correctly that there were some people who took on excessive risks. They bought houses that were too big because somebody told them they don’t have to pay anything down. Lenders were giving folks money because they were making money even though they knew people would not be able to pay. So, we don’t want to reward bad behavior.

“On the other hand, there are a lot of people who bought homes thinking they could pay it. They got teaser rates—they didn’t know what they were getting into. If they foreclose, everybody is worse off, including their neighbors who were responsible, because now, the foreclosure brings property values down for everybody.”

As the show was wrapping up, Walters thanked Obama for his time and asked him to return.

“You know I will,” he said. “Although I think you might want to have Michelle [Obama] back on because she will dish the dirt.”

“We would love it,” Walters responded.

Of course, this was all after he talked about Jeremiah Wright.

If you need even more, New York magazine has an exhaustive account.

Obama, Housing Policy, and the Ladies of The View