Bank of America Drafted Dodd’s Housing Bailout Bill

The Heritage Foundation ^ | June 20th, 2008

[Uncle Ralph]

The Washington Examiner has obtained a “confidential and proprietary” document produced by Bank of America and titled “FHA Housing Stabilization and Homeownership Retention Act of 2008.” The “Discussion Document” dated March 11, 2008, closely resembles the housing bailout bill drafted by Sen. Chris Dodd (D-Conn.) that the Senate is set to vote on within days. Senate staffers have told the Examiner’s Tim Carney, “the bailout section is exactly what Bank of America and Countrywide wanted. Its obvious they got what they asked for.”

[PogySailor]

If he was a Republican he'd already be headed out the door. Good thing for Dodd he has a (D) after his name. He'll probably get named Treasury Secretary in the Obama administration.

[blueyon]

Just remember, the “culture of corruption” is only a republican thing.

[SE Mom]

If a Republican had done this it would be getting 24/7 coverage and hearings would already have been called for.

http://www.freerepublic.com/focus/f-news/2034135/posts

background and discussion

[Wolfie]

Lobbyists have been crafting bills for decades. And nothing will change. We deserve what we get.

[lowbridge]

bump