Earlier this week John McCain finally decided to address the housing crisis that has been devastating for so many people and to the entire economy. Unfortunately his speech offered no actual solutions for the many families feeling the full weight of the crisis. The great plan offered by the man that ‘doesn’t really understand economics?’ His bold solution is that he will ‘examine new proposals and evaluate them’ and hold two meetings. Thank goodness, help is on the way! John McCain is holding two meetings!
Although McCain’s statement didn’t include plans for struggling families, he did say that he wants even less regulation for the lenders. How out of touch can one person be? Apparently McCain is not able to grasp the severity of the problem because he doesn’t feel it. He is the seventh wealthiest senator and owns at least 4 properties in both Washington and Arizona. Further, he has received over $1.2 million from commercial banks and mortgage lending interests. Can there be any surprise that he would suggest less regulation on an industry that has run wild without proper oversight? In the mean time the regular folks that are struggling can sit and wait until he has held a few more meetings.