House passes broad housing rescue despite veto threat
The House has passed a housing aid plan to provide $300 billion in refinanced mortgages for struggling homeowners. President Bush says he'll veto the bill. It passed 266-154 with support from 39 Republicans. The measure would let debt-ridden homeowners refinance into fixed-rate, government-backed mortgages they could afford. Congressional analysts say it could help as many as 500,000 borrowers and cost $2.7 billion over the next five years. The White House calls it a burdensome bailout that would open taxpayers to inappropriate risk and reward those who helped cause the housing crisis.
Rep. Tom Feeney (R-FL) took to the floor and gave an eloquent speech in opposition to the Democrats' mortgage bailout bills that would expose innocent taxpayers to over $300 billion worth of risk in order to bail out speculators and those who participated in mortgage fraud.
Well said Congressman!
I guess they could nationalize the banks. Oh, man, I hope that doesn't give them any ideas. Most of them can't read, I know, but they have staffs. Staves? Slaves? Whatever, they have them, and I know they're all lurking here. Waiting ... for the smallest misstep.
Erm.
--Help annoy moonbats even more with 'Socrates' at the Academy.