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US presidential election

McCain warns on housing bailouts

By Andrew Ward in Washington

Published: March 25 2008 22:23 | Last updated: March 25 2008 22:23

John McCain has promised to consider all options to ease the crisis in the US credit markets but warned that the government should not bail out homeowners or lenders who acted irresponsibly.

The Republican presidential candidate said assistance to the financial sector should be based solely on tackling systemic risks and that speculators and second homeowners should be excluded from any aid to homeowners.

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