Obama and His Subprime Supporters

by   |  March 28, 2008

Sen. Barack Obama and his campaign have recently stepped up their rhetoric on the mortgage foreclosure crisis, and senior economic adviser Austan Goolsbee wrote a piece in Sunday’s Washington Post pledging that Obama would take immediate steps to regulate subprime loans. The problem, says AFSCME President Gerald McEntee on the Huffington Post, is that Goolsbee was an outspoken defender of subprime loans just one year ago. In addition, contributors from the subprime lending industry have provided more than a million dollars to Obama’s campaign.

Senator Obama should answer this simple question: Is he planning on following the public advice of Professor Goolsbee on the subprime crisis, or is he working behind the scenes to keep his fat cat contributors happy?

Read the full post.