FROM BARACK OBAMA'S WEBSITE AND NEWSLETTER:

With discussions underway about possible government intervention to back troubled mortgage giants Fannie Mae and Freddie Mac, Senator Obama released the following statement today:

The extremely serious situation with Fannie Mae and Freddie Mac affects millions of homeowners, our financial system, and our entire economy. I have been and will continue to monitor this situation closely, and I’ll evaluate whatever plan is put forth by this Administration with the following three benchmarks:

First, any action we take must be focused not on the whims of lobbyists and special interests worried about their bonuses and hourly fees, but on whether it will strengthen our economy and help struggling homeowners who are also being hit by lost jobs, stagnant wages and spiraling costs for everything from gas to groceries.

Second, we must protect taxpayers, not bail out the shareholders and management of Fannie Mae and Freddie Mac. This is a challenging situation, and there are some community and regional banks, including those serving low-income communities, that we need to carefully address. But we must not allow government intervention to protect investors and speculators who relied on the government to reap massive profits.

Finally, we must ensure that any plan clarifies the true public and private status of our housing policies. We need to make clear that in our market system, investors must not be allowed to believe that, unlike working families, they can simply invest in a “heads they win, tails they don’t lose” context.

For too long, Washington ignored the warning signs in the housing and financial markets, and has been unwilling to take the kind of actions that I have been advocating for over two years to crack down on reckless borrowers and help struggling homeowners. We cannot afford more of this “wait and don’t see” approach to our markets and our economy.

With today’s announcement, as well as the discouraging job report Friday, I once again urge the Administration and Senator McCain to drop their opposition to a second stimulus package, and to come together around a package like I have proposed, with immediate relief for families and $50 billion to struggling states so that they don’t have to cut back on health care and education and can rebuild roads and schools and help restore jobs and confidence to our economy.

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Barack Obama For President 2008 !!!

"I have been and will continue to monitor this situation closely, and I’ll evaluate whatever plan is put forth "


So once again he says absolutely nothing. He is waiting to see what happens before he actually comments on a situation. Great, that is the real decision maker we need in charge, one who waits to see what happens before he can have an original thought. They for posting this it again shows how shallow this candidate is.

nothing clear, just general info...

nothing he could be held accountable for having promised...

And why bring McCain in the discussion?
Clearly a political/partizan shot.

A cheap shot!

This is exactly what type of president we need. One who will allow congress to do its job rather than take all the power in his own hands. it is not Obama's responsibility to fix this, it is congresses responsibility.