What's Obama's position on the Fannie Mae and Freddie Mac bailout?

Question

What is his opinion on the short term and long term affects of this? http://www.bloomberg.com/apps/news?pid=20601068&sid=aGFaSjTJmUZ0&refer=home

Answer 1

Your guess is as good as mine......... here is what his advisor,Jason Furman says his position is " the challenges facing Fannie and Freddie are part of the broader weakness in our economy." He blamed President Bush, saying "willful neglect" by the White House of trouble in the housing market and other sectors of the economy let the problems fester to crisis stage. Then he pushed Obama's call for immediate congressional action to help homeowners caught in the bind, and at risk of foreclosure.

My personal opinion is  -- for someone touting his desire for "CHANGE" in politics - Obama seems to have the no answer- answer down pat.

Answer 2

According to ABC news tonight Senator Obama said he wouldn't allow fannie mae and freddie mac to go under. However , they are well funded according to Senator Chris Dodd and there's really not as big a problem as people are speculating. I think it was on ABC that it was said that it might be profiteers or speculators trying to bring the price down on freddie and fannie's stock so they could make a killing when it goes up.

Answer 3

His opinion on this subject is irrelevant. These were steps to keep what is left of the housing industry alive. If Fannie Mae goes under, every bank will. You have no idea how much of the economy depends upon real property loans, do you?