Uh, we are paying a price today of $250 billion because the Fannie Mae’s and Countrywides of the world didnt know how to properly value these toxic junk on their books and created them as a way to hand out cheap, subprime loans that should never have been written.
If we listened to John McCain, the regs on these companies would be a bit tighter but not onerous (it would only stop them from doing stupid and risky loans) and the taxpayer would be a lot better off. by about $300 billion.
I think you need to look at the facts before knee-jerking that you know his reforms would be bad. In fact, McCain was as right on this matter as he was on the surge and Iraq!!
I think McCain has a track record of being wrong on domestic policy and wrong on foreign policy. Booms and busts cycles are a natural cycle of a free economy. Stagnation without booms or busts, but a slow downward trickle is the economy of socialim and permeate the ideas of the semi-socialists like McCain.