McCain on the "mortgage crisis"

[Army_of_One]

"I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers," McCain said. "Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy."

He said any government assistance to alleviate the housing crisis must be temporary and should be accompanied by reforms that aim to make the system more transparent and accountable to prevent a repeat of the crisis. He said no assistance should be given to speculators, or people who bought houses to rent or as second homes.

Personally I like these idea's. It's not a repubican or democrat thing either. If Obama had said this I would feel the same way.

[Mike B.]

Originally Posted by Army_of_One

"I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers," McCain said. "Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy."

He said any government assistance to alleviate the housing crisis must be temporary and should be accompanied by reforms that aim to make the system more transparent and accountable to prevent a repeat of the crisis. He said no assistance should be given to speculators, or people who bought houses to rent or as second homes.

Personally I like these idea's. It's not a repubican or democrat thing either. If Obama had said this I would feel the same way.

Army,

I agree! Obama nor Clinton would never say anything remotely close to that...have you ever seen a liberal that does not want to create big government just so they can give it away?

[Army_of_One]

Originally Posted by Mike B.

.have you ever seen a liberal that does not want to create big government just so they can give it away?

To sum it all up in one word...


NEVER

[Detector]

I think he sums it up quite well and just as most have posted here.

He obviously feels the lender is just as responsible as the borrower. He also mentions those who should not be given assistance as Speculators, Rental Homes and 2nd homes, but doesn't mention those who bought as primary homes.

He chose his words well and I agree 100%