On March 11, 2008 John McCain issued a " Statement On America's Credit Crunch"
The following are excerpts from that statement "While it is the government's role to help the honest, hardworking homeowner in this time of distress, it is not the government's role to bail out investors who should understand that markets are about both return and risk, or lending institutions who didn't do their job."
'It's important that managers and investors are held accountable for their own decisions. And we need to monitor the impact of the many, important steps that have already been taken. We don't want to do something in the short-term that damages our economy in the long-term."
"Lenders should also be thinking about how to help their good customers who are having difficulty through no fault of their own. For example, as companies bear the costs of product recalls when their products cause harm to customers, perhaps financial institutions should be thinking about their accountability to their customers."
Click
here for the full statement.
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