Election 08: Fannie and Freddie
Election 08: Fannie and Freddie
John McCain and Barack Obama agree the Treasury needed to step in to rescue Fannie Mae and Freddie Mac. They disagree over how much the U.S. government should be involved in the housing market once the immediate crisis is past.
The differences between the two presidential candidates over the lenders mirror a broader philosophical divide over the part the government should play in the economy. McCain supports steep cuts in taxes and spending to promote growth. Obama, while backing some tax reductions, favors increased public investment to boost the economy and job growth.
McCain is clear on what he wants to do. He backs a solution put forward by former Federal Reserve Chairman and fellow Republican Alan Greenspan that would break the companies up and sell the pieces off.
Obama has been more circumspect on what should be done once the crisis is over, while making clear that a return to the status quo that existed before the rescue is unacceptable.
What do you think? Should big government be running our nation's primary lenders for home loans? Or should they stay out of it? We'd love to hear your opinion. Just click the "Comment" link below and sound off on this. Don't worry, no one from the Secret Service will come knocking on your door for expressing your opinion.
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Comments on Election 08: Fannie and Freddie
Dee @ 10:59 pm
NO! The government shouldn't be bailing out these companies and making them quasi governnment entities so close to socialism. Let the chips fall where they may. The next ones that will want a bail out will be the automotive factories. Our country is in TOO much debt as it is including owing money borrowed from our enemies…such as China. The media and federal governmnent representatives and senate would rather scare us to say we'll be in a depression if we don't do as they say. That's blackmail. It is unfair to the taxpayers young and elderly alike. It's a bandaid on cancer. It needs radical surgery. Let the CEO's suffer from their greedy bonuses that they always get when they leave a business they mismanged. All this $750,000,000,000,000 (trillion) bail out they are HOPING will turn into profit for lending and buying again. I want something that's a sure thing and not a HOPE and PROMISE. If they aren't sure, DON'T do it!