I’m somewhat surprised at the clarity of this Washington Post editorial (http://www.washingtonpost.com/wp-dyn/content/article/2008/08/27/AR2008082703021.html):
FOR ALL THE talk about energy, taxes and health care, the first economic policy challenge to face the next president could be coping with a crisis at Fannie Mae and Freddie Mac — and the related job of reforming them to make sure they never put the global financial system at risk again. Republican John McCain, long a skeptic of the two government-sponsored enterprises, has said that, if the government must bail them out, it should fire their current boards and managers en route to full privatization. Until now, Democrat Barack Obama has been more circumspect, agreeing with Mr. McCain that taxpayers should come before shareholders and managers but offering few concrete ideas about the ultimate dispensation of the companies. But this week he’s given an encouraging hint of fresh thinking about the problem….