From Obama:
"Given the substantial role that Fannie Mae and Freddie Mac play in our housing system, I believe that some form of intervention is necessary to prevent a larger and deeper crisis throughout our entire economy," Obama said in a statement.
From McCain
Republican McCain supports the federal takeover of mortgage finance giants Fannie Mae and Freddie Mac but wants eventual privatization, his advisors said.
"The long-term reforms are to scale down Fannie and Freddie so their size is no longer a threat. And then privatize them. Get them off the taxpayer's books entirely," said McCain's chief economic adviser, Douglas Holtz-Eakin.
Obama's statement is fine, as far is it goes, but note, PLEASE note that McCain says the truly courageous thing, that these quasi-governmental agencies need to be privatized to reduce the risk to you the taxpayer. BTW, how do you like sharing the estimated $200 billion bill with your fellow citizens. You probably can guess my preferences, but we want to hear from you the readers. Please take our poll and comment.
UPDATE #1:
John McCain and Sarah Palin have posted their full response in the WSJ. I really like it.
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