McCain speaks softly, but has a big idea.

It seems the game of running for POTUS is more oriented toward who can raise the most money rather than who can propose the best solution to a broken economy. Recently, John McCain emerged from the shadows to point out that until  we do something for the millions of homeowners who; through no fault of their own, owe more than their home is worth, the economy will be dismal. Is anyone listening?


McCain proposed that the Fed buy the underwater mortgages from the current lenders and allow the homeowner to refinance their home at a value closer to what it is worth. As usual, I put some numbers on his suggestion. If the Fed purchased the mortgages on 10,000,000 homes and swallowed $50,000 per home, it would cost $500 billion, which is less than any of the "stimulus" packages, and significantly less than the funds arbitrarily thrown at the banks to save their skins. And it would do more than any of the stimulus packages to put equity back into people's lives and to show Americans that Washington is still a main street supporter, not just a wall street stooge.

The most innovative ideas seem to come from the people who have no chance of being elected - John McCain for one. The GOP POTUS candidates are too busy slicing up each other than than to cut to the chase with some creative initiatives.

America needs leaders with audacious ideas and the courage to propose them to the American people.