Fannie Mae-No Politics (FNMA)

[cooler_heads]

McCain called for the NWS back in 2008.

https://wikileaks.org/podesta-emails/emailid/1028

MCCAIN: No, it's not right. But we reached such a situation that, if these institutions failed, the impact on millions of innocent Americans could be very severe. In the case of Fannie and Freddie, we should stop their lobbying activities. We should eliminate the pay and bonuses that these people rake in…

STEPHANOPOULOS: George Will has an idea on that.

MCCAIN: … the most…

STEPHANOPOULOS: He says that when some places like Freddie Mae (ph) or Fannie Mae or Bear Stearns get the government guarantee, that the executives that work there should get a government salary.

MCCAIN: Sure. That's exactly right. And we could go out and ask people — the smartest people in America, maybe somebody like Jack Welch or John Chambers or Meg Whitman, people like that — and say, come and take over and do it for $1 a year. They'd be willing to do that. But the other thing is, the shareholders should not be the first ones to be paid. There should be new preferred stock issued. And those people would be, and the government, paid off first, since the government is on the hook.

STEPHANOPOULOS: And should the government get some stock, so that if Fannie Mae does recover, the taxpayers should benefit?

MCCAIN: Absolutely. Absolutely, they should, in my view. And we've got to send the signal that, over time, that these kinds of institutions have not helped the American homeowner. They've basically helped enrich a lot of people that otherwise shouldn't have been.