Obama Plays Ball
d by: Anthony M. Freed | August 25, 2008 Obama: Fannie and Freddie “too central to the housing market” to fail, supports bailout
Fannie Mae and Freddie Mac shares were on the rise in stubborn opposition to a down market on news of they have completed a multi-billion dollar debt-sale, and the news coincided with presidential hopeful and democratic nominee apparent Barack Obama’s statement today where he reiterated his support for the trouble GSE’s and the as-good-done GSE Bailout which will be funded on the backs of the nation‘s taxpayers:
“Here’s the problem: If Fannie Mae and Freddie Mac collapsed, then probably the financial system would receive such a body blow that it could be disastrous. You probably couldn’t get a mortgage,” he said.
“I think long-term what we have to do is, we have to go ahead and make a decision, if these are public entities, then maybe they ought to get out of the profit-making business… and if they’re private entities, that we don’t bail them out,” Obama said.
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Fannie Mae and Freddie Mac shares were on the rise in stubborn opposition to a down market on news of they have completed a multi-billion dollar debt-sale, and the news coincided with presidential hopeful and democratic nominee apparent Barack Obama’s statement today where he reiterated his support for the trouble GSE’s and the as-good-done GSE Bailout which will be funded on the backs of the nation‘s taxpayers:
“Here’s the problem: If Fannie Mae and Freddie Mac collapsed, then probably the financial system would receive such a body blow that it could be disastrous. You probably couldn’t get a mortgage,” he said.
“I think long-term what we have to do is, we have to go ahead and make a decision, if these are public entities, then maybe they ought to get out of the profit-making business… and if they’re private entities, that we don’t bail them out,” Obama said.
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