What Was McCain's Position on the Obama Mortgage Bailout?

What Was McCain's Position on the Obama Mortgage Bailout?

John McCain was initially against the bailout of banks involved in the mortgage crisis. He later changed his position, supporting a bailout of Fannie Mae and Freddie Mac and buying sub-prime mortgages for the purpose of allowing people to stay in their homes.

In March of 2008, McCain stated that irresponsible borrowers should not receive a bailout, but he also stated that he supported assisting borrowers solely to prevent risks to the economy as a whole. Three months later he announced that he was open to bailouts of Fannie Mae and Freddie Mac. McCain voted for the bailout package in October of that year.