“Both presidential candidates Barack Obama and John McCain said on Sunday they see the federal takeover of mortgage finance companies Fannie Mae and Freddie Mac as necessary. Republican McCain supports the federal takeover of mortgage finance giants Fannie Mae and Freddie Mac but wants eventual privatization, his advisors said. … Obama, in Chicago, said that the step was necessary to prevent a deeper economic crisis and he would be reviewing the Treasury plan. … he U.S. government on Sunday seized control of Fannie Mae and Freddie Mac, quasi-public mortgage companies which own or guarantee almost half of the country’s $12 trillion in outstanding home mortgage debt, in what could be the largest financial bailout in U.S. history.” (09/08/08)