Conservos Not Happy With McCain "HOME"

"Hey, remember when I praised McCain's housing stance," asks Michelle Malkin today. "Well, forget it." The conservative commentator does not like McCain's proposal today in which the federal government takes in and guarantees qualified suprime mortgages. It strikes her as much more activist than the principles he staked out two weeks ago. Indeed, it strikes just about everyone as more activist than the principles he staked out two weeks ago, including Hillary Clinton, including reporters on a conference call with McCain advisers today. The New York Times uses the dreaded phrase "in shift" to describe the plan's velocity.

The campaign says the proposals hew to McCain's philosophy. They apply only to primary residences and do not reward real estate speculators for speculation. And they cost much less than other bailouts. Nonetheless, the White House has threatened to veto the closest Senate approximation of the McCain plan, Dodd-Shelby.