FACTBOX: Presidential candidates on Bear Stearns crisis

(Reuters) - The U.S. Federal Reserve announced fresh emergency measures on Sunday to stem a fast-growing financial crisis, including an interest rate cut and a $30 billion credit line to enable JPMorgan Chase to take over troubled rival Bear Stearns.

Following are the U.S. presidential candidates' reaction to the surprise move:

REPUBLICAN JOHN MCCAIN, AN ARIZONA SENATOR

McCain has the "utmost confidence" in Fed Chairman Ben Bernanke and supported his decision to step in, senior advisor Douglas Holtz-Eakin said by phone.

Asked if U.S. funds should be used to bail out Wall Street, Holtz-Eakin said: "If the financial system were to worsen considerably from where it is now, it would put at risk too many jobs, and so policies have to be devoted to shoring up that financial system. Those are appropriate policies."

Speaking before the Fed took action last week, McCain said he hoped a bailout would not be necessary.

"Bailout always have intended consequences and unintended consequences," McCain told reporters on his campaign bus on Wednesday. "After the savings and loan crisis (of the 1980s), I think we all knew the government had to act. But we wasted billions."

DEMOCRAT HILLARY CLINTON, A NEW YORK SENATOR

"We need to be vigilant, to do everything in our power to maintain confidence in our financial system," Clinton said in a prepared statement. "I feel very strongly that in every way we've got to have more urgency to continue the action that was started yesterday."

Clinton said she had told Treasury Secretary Henry Paulson and New York Federal Reserve President Tim Geithner on Monday morning that the government will need to address the rising number of home foreclosures.

DEMOCRAT BARACK OBAMA, AN ILLINOIS SENATOR

Obama said it was too early to talk about taxpayer-funded bailouts but added that government officials must ensure that Wall Street's woes does not take a huge toll on the broader economy.

"It's premature to start talking about taxpayer-funded bailouts," he told reporters while campaigning in Monaca, Pennsylvania.

In a separate statement, Obama urged passage of legislation that would encourage lenders to buy or refinance failing loans, which he said would prevent more foreclosures.

"This is not a bailout for lenders or investors who gambled recklessly, and it is not a windfall for borrowers," Obama said in a prepared statement. "It is a fair and responsible way to help stem the foreclosure crisis."

He also criticized President George W. Bush for failing to take steps to prevent the crisis.

(Reporting by Andy Sullivan and Caren Bohan, editing by Philip Barbara)