Obama: ‘We Don’t Think There Is Anything Wrong with Pursuing a Profit’

“I’ve called on Congress to wind down the government-backed companies known as Fannie Mae and Freddie Mac. So the bottom line is we don’t think there’s anything wrong with pursuing a profit, but we want to make clear the days of making bad bets on the backs of taxpayer money and then getting bailed out afterwards — we’re not going back to that. (Applause)

We’ve worked too hard, and everything we’ve done to heal the housing markets we want to preserve. But we do want to make sure that the housing market is strong and that responsible homeowners can get a good deal. For people who have saved, done the right thing, now are looking to buy their first home, we want to make sure that they get a little bit of help.”