Real Estate Broker/Owner with Summit Realty Group, Inc.
Daily Real Estate News  |  March 26, 2008McCain Takes Hard Line on Housing Help
Republican presidential candidate John McCain on Tuesday criticized government intervention that bails out banks and borrowers who made poor decisions.

"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.

Source: The Associated Press, Liz Sidoti (03/25/2008)

Comments (3)

Steve Hirschler
Keller Williams Big Bear - Big Bear Lake, CA
Big Bear Real Estate
I agree with him. A bail out is spending more of the taxpayer's money. We are way over our budget.
Mar 30, 2008 09:03 AM
Colorado Real Estate - Christina
Colorado Real Estate - Colorado Springs, CO

thanks for the post..good reading...something to think about...

Apr 01, 2008 09:50 AM
Karen Rice
Keller Williams Real Estate - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales
As much as I don't care for McCain, I agree with him on this issue.
Apr 02, 2008 11:37 PM