By Jonathan Easley - 10/25/11 05:15 PM EDT
“Mitt Romney has callously taken the position that homeowners who have been cheated, scammed or simply lost value in their homes as a result of Wall Street’s risky bets should be allowed to ‘hit rock bottom,’ ” said DNC Communications Director Brad Woodhouse in a statement.
“Romney’s position is appalling, but not unexpected from a former financial executive who wants to let Wall Street — the same guys whose recklessness crashed the housing market and our economy — write its own rules, even if it means hanging the middle-class out to dry.”
Romney campaign spokeswoman Andrea Saul responded in a statement by saying President Obama’s policies are to blame for the current economic conditions.
“Under President Obama, American homeowners have dealt with falling home prices, rising foreclosure rates, and one of the worst housing markets in recorded history," the statement said. "Twenty five million Americans are out of work, underemployed, or have just quit looking. President Obama and his campaign will continue to try and distract Americans from his disaster of an economic record over the next year but it's not going to work."
Obama is on a swing through some of the Western states that have been hit hardest by the foreclosure crisis. On Monday, the administration unveiled an initiative that would make it easier for struggling homeowners to refinance.
“While President Obama is fighting to create jobs and adopt policies that give underwater homeowners a chance to refinance and stay in their homes, Mitt Romney believes families who work hard and play by the rules should be kicked out of their homes so bankers can get rich,” Woodhouse’s statement continued. “Mitt Romney’s vision of the American Dream would be a nightmare for America’s homeowners and it would have a devastating impact for the Arizona economy and families in a state which ranks third in the country in the rate of foreclosures.”