Politics | John McCain No 'Reward' For Borrowers, Lenders: McCain GOP candidate blasts risky mortgages, nixes government bailout By Nick McMaster Posted Mar 25, 2008 4:20 PM CDT Copied Republican presidential candidate, Sen. John McCain, R-Ariz., speaks during a news conference on Capitol Hill in Washington in this March 13, 2008 file photo. (AP Photo/Haraz N. Ghanbari, File) John McCain said today he opposes government action to bail out homeowners having trouble with their mortgages, the New York Times reports. McCain—who will receive Nancy Reagan's endorsement today—differentiated himself from both Democratic candidates, who have called for federal intervention, saying: “It is not the duty of government to bail out and reward those who act irresponsibly." However, McCain said, intervention was prudent if it prevented “systemic risk that would endanger the entire financial system." The presumptive Republican presidential nominee blamed the ripple effects from defaults on the complex financial products built around mortgages. “Capital markets work best when there is both accountability and transparency,” and in this case, “both were lacking.” Read These Next Something James Carville said made Melania Trump's lawyer unhappy. 200 images of the Idaho murder scene have been released. Vance's office says it wasn't involved in the river-raising. Ivanka and Jared are making headlines again. Report an error