Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

8 of 22
BACKNEXT
Mortgage Giant Rescue
Both candidates supported the federal government takeover of the mortgage insurance giants since they're central to the housing market.

· Called for reform of corruption at Fannie Mae and Freddie Mac two years ago.

· Wants to clarify and unify regulatory authority of financial institutions, including the mortgage insurers.

"These quasi-public corporations lead our housing system down a path where quick profit was placed before sound finance...And now, as ever, the American taxpayers are left to pay the price for Washington's failure. -- McCain*
· Wants to void any inappropriate windfall payments to outgoing CEOs and senior management.

· Says shareholders should not benefit in takeover.

· Had said companies should either operate as goverment agencies or as private businesses.

"I recognize that intervention is necessary to maintain liquidity for the housing market so that homeowners can continue to get affordable mortgages and homes can be bought and sold in neighborhoods across the country." -- Obama**




NEXT: Mortgage Fraud
Last updated October 29 2008: 12:15 PM ET
Source:
*Sept. 19, 2008 speech, Arlington, Va.
** Sept. 9, 2008 letter to Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart

More Galleries
Drones are getting smaller and smarter These compact drones are built for racing, photography, education and some goofy fun. More
Top luxury hotel suites for business travelers For many people, you can't put a price on comfort. More
Million-dollar startups: These firms scored big sales their first year Their first year in business, these companies generated $1 million in sales. More

Special Offer