Opposition, From Both Parties, Over Fannie, Freddie Bailout Plan

[DeepModem Mom]

Source: New York Times, pg.1, lead story

WASHINGTON — The Bush administration’s plan to rescue the nation’s two largest mortgage finance companies ran into sharp criticism in Congress on Tuesday as some lawmakers questioned the open-ended request for money that could be used to help the companies.

The criticism prompted House leaders to push back their timetable for approving emergency housing legislation, saying final action would take at least until early next week. A growing number of Republicans had voiced skepticism and, in some cases, angry opposition, to the administration’s proposal to help the two companies, Fannie Mae and Freddie Mac.

It was unclear whether the criticism was hand-wringing before Congress ultimately adopted the rescue package or whether it meant a delay or that major changes to the proposal were in the works.

The Republican opposition threatened to incite an ugly intramural fight with the White House. In a high-stakes election year, the resistance reflected the deep fear among some lawmakers that the plan could set off a large taxpayer bailout, touching off a wave of voter anger in November....

Read more: http://www.nytimes.com/2008/07/16/business/16fannie.html?hp

[Tandalayo_Scheisskopf]

1. Simple Answer:

Re-nationalize both of them and have them doing what they are supposed to do, what they were designed to do. Fuck the stockholders. If you gamble, sometimes you lose.

[global1]

2. I Heard Dubya Wants To Bail Out Fannie Farmer And Bernie Mac....nt

[sam sarrha]

3. rewrite the loans.. people don't foreclose.. no problem.. quit rewarding the Bu$hitCo criminals