Subprime/credit crisis — John McCain

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“You don’t want to reward speculators. You’d like to take each individual case on its own, but there’s no time to do that. What’s important is to stop the bleeding.”
» The New York Times, Dec. 5, 2007.

In December 2007, Sen. John McCain, R-Ariz., said he would consider additional mortgage aid if the government’s
recent actions don’t do enough for the subprime mortgage crisis. He said he normally opposes government involvement, but the economic impact of the subprime mortgage meltdown calls for federal intervention.

Need new legislation.

  • He did not say what steps he would support, but campaign adviser Douglas Holtz-Eakin, a senior fellow at the Peterson Institute, has said there’s likely a need to pass legislation, “at least to modernize the FHA and improve licensing standards for mortgage brokers.”

No voting record on subprime issues is available.