
Politics – Republican John McCain on Tuesday derided government intervention to save and reward banks or small borrowers who behave irresponsibly though he offered few immediate alternatives for fixing the country's growing housing crisis.
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I agree with McCain. A short time ago my son in law and a
group of Bankers met with the Fed Chairman, Mr Berneke, and they asked him what the Government was going to do about the crisis. He said nothing. It is the Banks fault. They didn't even check to see if some of the people buying homes had credit, or even in some instances had a job. They sold to people who bought three times as much house that they could afford, and left it up to the buyers to pay for it. Why then should we use taxpayers money. Money taxpayers could well use to pay for their own house if the Government wasn't gouging them for higher taxes.