A Chequer-Board of Nights and Days

Senator John McCain put the blame on Wall Street for the home mortgage credit crisis that has roiled financial markets around the world.

``Wall Street is the villain in the things that happened in the subprime lending crisis and other areas where investigations and possible prosecution is going on,'' McCain said during a taped appearance on ABC's ``This Week'' program.

The Arizona Republican, who has wrapped up his party's presidential nomination, said he supports the housing bill passed by Congress yesterday to stem foreclosures and aid Fannie Mae and Freddie Mac, the largest U.S. mortgage-finance companies, even though it may cost taxpayers as much as $25 billion.

McCain, 71, said the risk of the mortgage companies' failure is outweighed by the potential cost. He also said Fannie and Freddie should be barred from lobbying Congress and their executives' compensation should be reduced.

``We should eliminate the pay and bonuses that these people rake in,'' McCain said.

This is the kind of mindless and irresponsible class warfare one expects the Democratic candidate to engage in. Instead, we have the Republican candidate doing it. If John McCain fails to win this election, a large part of the reason may revolve around the fact that he gives people an incentive to vote for a real Democrat, as opposed to a Republican running as a fake Democrat.