ABC News is reporting that the campaign is frantically backtracking on her misstatement of the campaign's position on some protections for homeowners under foreclosuregiving them too much:
Sarah Palin got her facts wrong in Thursday's debate with Joe Biden when discussing where John McCain stands on new protections for homeowners facing foreclosures. The Alaska governor incorrectly made it sound like McCain supports giving bankruptcy judges the power to rewrite mortgage payment terms on first homes. He doesn't.
The McCain campaign confirms to ABC News that Palin misstated McCain's position. "No, that is what is called the cramdowns, which is so objectionable that Obama didn't even want it jammed into the stabilization bill," said McCain spokesman Brian Rogers when asked if McCain supports giving bankruptcy judges the power to re-adjust the interest rate and principal to help people stay in their homes.
Palin's mistake came when the debate's moderator asked her if Biden was right in thinking that she and McCain oppose giving bankruptcy judges this new power.
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