Answer to Question #113098 in History for Elle

Question

#3 In 2008, Senator John McCain (R-AZ) proposed that $300 billion of the $700 billion TARP funds should have gone to bail out individual borrowers like John and Maria. Would McCain’s proposal have prevented all the consequences of the Great Recession listed in the article? Why or why not?

Answer 1

McCain's proposal could have prevented Great Depression. The mortgage brokers, who made the bad loans, and hedge funds, which used too much leverage would have been regulated.