McCain's Mortgage Plan Shifts the Burden to the taxpayer. Is This his idea of "Country First"?

Myles -

Without any cheer leading for either candidate, I think that regardless of what action is taken, the taxpayer will ultimately get the burden. How else is the credit crisis supposed to abate? The money is gone, and big, big banks lost their financial solvency. What is the nation supposed to do? No doubt it was plain old capitalism, sprinkled with Greed (note the capital letter). After we get through with a substantial amount of blame, the problem still persists. Is there really an alternative to propping up the sagging financials?

The credit crunch has the potential of finding its way into many facets of our economy. Aside from the amount of debt companies are carrying, and missed profits, is there any reason why, for example McDonalds stock, has dropped so far? What we're seeing here is panic selling. There really is no reason for the market to drop so much so quick. But there you have it...an impact in an area that shouldn't be hit so hard.

Some say we should do nothing, let capitalism take it's course. Let the big fish swallow up the companies that go under. Just how is that supposed to happen when money and commercial paper is lacking right now? Lending has tightened up "finally."

If you ask me, we need to allow the individual states to regulate the banking industry in support of consumer protection, instead of allowing the federal government to exercise "preemption," or being able to trump the states on banking laws. There were several instances in the last five years where states tried to curb some of the runaway fiscal policies within their state, yet the government threw up blockades. Why? I really can't say except perhaps the banking industry had/has bankrolled some heavies.....

Anyway, I would love to hear any other valid ideas/opinions on how to fix this elephant or donkey, as the case may be!

It seems like it to me. Mr. McCain is going to make us (taxpayers) paid for what all those top people CEO'S, BANKERS have done. Somebody has to pay and its us the small fish.....is it going to come our of our pockets, that's his agenda.

It's a bad idea and a socialist move. That's why I have to laugh when people call Obama a socialist.