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July 25, 2008 11:23:32 AM CDT

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Obama Plan: $30B Stimulus, More Regulation

Posted Mar 27, 08 2:29 PM CDT in Business,  Politics 

(Newser) – Barack Obama called today for stricter financial regulations and laid out a $30 billion stimulus plan, the Wall Street Journal reports, including measures aimed at the foreclosure crisis. The Democratic candidate said President Bush had “a generally scornful attitude toward oversight and enforcement,” and proposed expanding Fed powers and upping banks’ capital requirements.

Rival Hillary Clinton has called for a stimulus plan in the same amount, the Journal reports, while Republican John McCain proffers no government assistance, instead relying on lenders to step in. Obama deemed McCain’s policies tantamount to “watching this crisis happen.” McCain rebutted, saying Obama’s plan would “sock it to American taxpayers while failing to solve the very real problems.”

Sources Wall Street Journal, Wall Street Journal

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New York Mayor Mike Bloomberg, left, shakes hands with Democratic presidential hopeful Sen. Barack Obama.   (AP Photo/Alex Brandon)
Democratic presidential hopeful Sen. Barack Obama D-Ill., speaks about the economy.   (AP Photo/Alex Brandon)
Democratic presidential hopeful Sen. Barack Obama D-Ill., speaks about the economy.   (AP Photo/Alex Brandon)
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Barack Obama  • Hillary Clinton  • John McCain  • Federal Reserve  • mortgage crisis  • regulations  • stimulus plan


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