Obama supported the federal government takeover of the mortgage insurance giants, since they're central to the housing market.
· 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
Source: * Sept. 9, 2008 letter to Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart