At the debate, John McCain promised that, if elected, he would direct the government to buy up bad home mortgages, allowing strapped people to keep their property.  He called this plan the American Homeownership Resurgence Plan.  McCain said his plan would allow homeowners to basically refinance their home at the current value, with the financial institutions eating the loss.   Well, on Wednesday, he published documentation on how his plan would work and guess what?  McCain’s plan would actually be more generous to financial institutions and more costly for taxpayer!  When confronted with this obvious lie, McCain’s camp said that making financial institutions accept refinances at a loss was not “the intentions of the initiative.”  The way I see it, his camp is really telling Americans that they are really stupid if they honestly believe McCain would help them save their home!  According to McCain’s camp, it was just a simple mistake on McCain’s part to say this.