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.