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McCain backs U.S. actions on Freddie Mac, Fannie Mae
PHOENIX |
PHOENIX (Reuters) - Republican presidential candidate John McCain said on Monday he backed U.S. actions aimed at saving mortgage finance giants Freddie Mac and Fannie Mae from financial collapse.
McCain told reporters the measures announced on Sunday by the Treasury and the Federal Reserve were "correct" and said he hoped Congress will approve them.
"I hope that these measures will restore some of the necessary confidence in our institutions and preserve the ability of Americans to obtain loans in order to buy a home and be able to afford the mortgage payments that they're having to make. It's a tough time nowadays."
(Reporting by Steve Holland; Editing by James Dalgleish)
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