(Mike Huckabee dropped out of the Republican presidential race on March 4 after voting in four states that day put John McCain very close to winning the GOP nomination.)
In response to the Bush administration's plan to help families in jeopardy of losing their homes in foreclosures by freezing interest rates for some sub-prime borrowers, Huckabee warned Bloomberg Television of a "chilling effect" on lending. Bush's plan, Huckabee stated, would make those in the lending industry weary of loaning money because they may not get their money back. Huckabee opposes any further action by the president and Congress in combating the issue of mortgages, saying the issue is a market-based one better left without government intervention. Huckabee told NPR that the government bailing out individuals at risk of being unable to pay for their homes once their mortgage loan rates change to a higher rate is not in the best interest of the people. He places the blame on overambitious borrowers and greedy lenders.
ABC News Blog: Huckabee Warns Bush of 'Chilling Effect'
NPR: Huckabee Talks Tough on Mortgage Bailout
— Las Vegas Sun intern Jenna Kohler compiled this report.
