Primaries and Caucuses
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Housing
Home prices are declining and foreclosure filings are skyrocketing. Several prominent companies that engaged in volatile sub prime loans have gone bankrupt or have been bought out, while the people they loaned money to are faced with mortgage bills they often cannot pay.
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REPUBLICANS
John McCainWould consider greater intervention by the federal government to limit effects of mortgage crisis if current measures fail. Believes a government bailout should only be a last resort.
Watch McCain speak about the mortgage crisis
Ron PaulStates on campaign Web site: "The root of this crisis, as with past financial and economic crises, results from federal government intervention into the economy, not to anything endemic to the market, nor to the actions of market participants. … Various federal mortgage programs through the FHA, Fannie Mae, and Freddie Mac have distorted the normal workings of the housing market. …It is time for the federal government to get out of the housing business."
OUT OF THE RACE: Sam Brownback | Jim Gilmore | Rudy Giuliani | Mike Huckabee | Duncan Hunter | Mitt Romney | Tom Tancredo | Fred Thompson | Tommy Thompson
DEMOCRATS
Hillary ClintonWould freeze the monthly rate on subprime adjustable rate mortgages, with the freeze lasting at least five years until the mortgages have been converted into affordable, fixed-rate loans. Would call on mortgage industry to provide status reports on the number of mortgages it is modifying.
Watch Clinton speak about the mortgage crisis
Barack ObamaProposes creating a $10 billion fund to help prevent foreclosures, eliminate some taxes and fees for families who must sell and offer counseling to homeowners. Announced a "credit card bill of rights" to provide disclosure of hidden credit costs. Would provide tax credits to 10 million middle class homeowners who struggle with mortgage costs.
Watch Obama speak about the mortgage crisis
OUT OF THE RACE: Joe Biden | Chris Dodd | John Edwards | Mike Gravel | Dennis Kucinich | Bill Richardson
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The issues that make up American politics have many voices. Here are a few governmental organizations, interest groups and companies from across the political spectrum that are actors in the debate over how best to resolve the housing crisis.
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