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McCain says no need for Fannie, Freddie bailout now

BELLEVILLE, Michigan
Thu Jul 10, 2008 2:41pm EDT
Republican presidential candidate Senator John McCain gestures as he addresses a League of United Latin American Citizens conference in Washington, July 8, 2008. REUTERS/Jonathan Ernst

Republican presidential candidate Senator John McCain gestures as he addresses a League of United Latin American Citizens conference in Washington, July 8, 2008.

Credit: Reuters/Jonathan Ernst

BELLEVILLE, Michigan (Reuters) - Republican presidential candidate John McCain said on Thursday a government bailout of mortgage finance giants Fannie Mae and Freddie Mac was not necessary now.

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"At this time I don't think that there is a requirement for a government bailout," he told reporters in Michigan.

McCain said he would be looking at all options, however, and reiterated that the two institutions must not fail.

(Reporting by Jeff Mason; editing by Gary Crosse)
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