Posted on 07/26/2008 10:25:38 AM PDT by politicket
WASHINGTON -- U.S. Senate lawmakers on Saturday overwhelmingly passed a broad package of housing legislation, hoping to send a calming message to financial markets and voters amid the ongoing deterioration of the housing market and a growing number of bank failures.
Meeting in a rare weekend session, the Senate voted 72-13 in favor of the bill, which includes tax breaks for homeowners, a $300 billion program to refinance loans for struggling borrowers, and a dramatic rescue plan for embattled mortgage finance firms Fannie Mae and Freddie Mac. Other provisions include an increase in the federal debt limit to $10.6 trillion and long-sought reforms to the Federal Housing Administration.
The vote completes congressional action on the legislation, which is the result of months of political wrangling and negotiations between the House and Senate, Treasury Department, and other federal regulators. The House voted 272-152 to pass the bill on Wednesday.
It will now be sent to President George W. Bush, who the White House has said will sign the bill despite voicing earlier misgivings about certain provisions of the legislation.
(Excerpt) Read more at online.wsj.com ...
I thought they just did? There's now a big hole where your back pocket used to be!
They can act fast to handout huge bundles of taxpayer money.
But they can’t pass a bill to drill and go nuke. That savings in the cost of gas would take the sting at this legal theft of our earnings and redistribution to those who don’t want to work for the American dream, but who want it given to them.
I have always thought that the fools who thought that lying was OK, just didn’t understand that, that acceptance would open the flood gates to lying about ANYTHING, not just “sex”.
Now, it is OK to lie about the financial straits we are in, and use their power to save themselves and their friends.
The flippers should be denied this bailout. It’s easy to determine. More than one home? No bailout.
McCain published an article opposed to this, but noted it would pass anyway. His vote would have made no difference.
He pointed out that we needed a president who, if the provisions are exersized, pushes to do so prudently.
Does that mean McCain “must go” too? He supported the a bail-out too.
Well said.
This Congress is bailout happy.
Except when it comes for making this country energy independent.
Do you have a link to the article in which McCain said he opposed this bill? McCain told La Raza that he supported a bail-out. Did he change his mind after that?
Why are you surprised? Hunter was always overrated. I could never understand the enthusiasm for him. He also supported the prescription drugs bailout and no child left behind.
“McCain published an article opposed to this, but noted it would pass anyway. His vote would have made no difference.
He pointed out that we needed a president who, if the provisions are exersized, pushes to do so prudently.”
“He also supported the prescription drugs bailout and no child left behind.”
Yes that’s two unfortunate votes, Unlike John McCain who defends every liberal vote he makes. If you think Hunter is overrated as a conservative, what does that make McCain??
If people like you had gotten behind a Duncan Hunter we wouldn’t be stuck with this dope McCain.
I don’t think he would have voted against it. In his article, he said it lots of it was wrong, but that the problem started long before now, and the government had inherited some responsibility due to past actions.
It was an article from Friday, posted around here somewhere, I can’t find it right now.
“Aw..c’mon. Do you mean to tell me that he should actually WORK for his Senate pay? Wouldn’t that go against everything that our Federal government stands for?”
Why should I have supported Hunter when I actually was able to vote for a candidate who (unlike Hunter) voted against the mortgage bailout, the prescription drug bailout AND No Child Left Behind? Moreover, my guy got more votes than Hunter!
Well and truly stated.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.