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Democrats, Bush Square Off Over Housing Relief
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| Parent(s) |
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| Contributor | Servo |
| Last Edited | Servo Mar 25, 2008 08:27am |
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| Category | News |
| Media | Newspaper - Washington Post |
| News Date | Thursday, March 20, 2008 02:00:00 PM UTC0:0 |
| Description | Now that the Federal Reserve has pledged billions of dollars to rescue Wall Street bankers from possible default, lawmakers and regulators are turning their attention to helping average citizens -- from homeowners in danger of foreclosure to people who want to buy a home.
But unlike the Fed's rapid moves last week to stabilize financial markets, the consumer benefits are likely to progress slowly as they face resistance from the Bush administration on some broad issues and from special interests on some narrow ones.
Bush officials are working with lawmakers on proposals that would help new home buyers and small investors by strengthening rules that govern mortgage lending.
The House, meanwhile, plans to move within weeks to approve a multibillion-dollar program to prevent hundreds of thousands of home foreclosures. The outlook for the plan, the most ambitious of several proposals, is uncertain; President Bush continues to resist large-scale legislation to bail out homeowners in distress. |
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