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Kucinich: Gov't Should Rewrite Troubled Mortgages

Kucinich joined many of the northeast Ohio delegation in voting no Tuesday. He says the bailout is flawed...

KUCINICH: This bailout was only about helping out the speculators on wall street, and it asks for 700 billion dollars... So we borrow from the banks to give to the banks and they give us in return 700 billion dollars of toxic debt.

Kucinich advocates for a different kind of solution, one he says is backed by some of the 200 economists who recently sent a letter to congress urging members to reject the bailout proposal from Treasury Secretary Henry Paulson.

KUCINICH: The only way we can have a bill that's viable is to help out the homeowners by having the government purchase a controlling interest these mortgage security pools and then do a workout for homeowners; otherwise this is a handover to Wall Street.

Kucinich appeared on the program as part of ideastream®'s candidates' forums. His Republican opponent, former state lawmaker Jim Trakas appeared earlier in the hour.

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