McCain, Paulson, Bernanke, Bush – Bailout Plan and Banks

If I understand the news correctly this would be the second scandal John McCain is involved in. The first, the savings and loans, he was involved in deregulation and now this one and again he was involved in deregulation.

I’m not sure of this but is John McCain starting to “flip flop” on the current crisis and issue?

Paulson is moving to supply banks with billions of dollars but I was just wondering if any action has been taken to prevent their “bad lending” practices? With stock ownership will banks improve or have “better” lending practices?

What other actions have been taken to help the middle class pay for their mortgages and prevent mortgage foreclosures?

How do lower interest rates affect banks, affect their lending practices, and how do they affect their bad lending practices?

Is there a team of 1000 economists helping Paulson (Republican) and Bernanke (University professor appointed by G Bush) make these decisions? Where can we see their credentials?

Some Quotes

Paulson: It’s a rough patch in the road.
Paulson: The banks are strong and they are going to be strong for many many years to come.

Bush: It’s a rough patch in the road.
Bush: sometimes when you over correct you end up in the ditch.