Posted on 10/02/2008 10:44:37 AM PDT by Publius804
Bush Wont Support House Conservatives' Alternative Financial Plan
Wednesday, October 01, 2008
By Fred Lucas, Staff Writer
White House (CNSNews.com) - With Senate passage of a revised financial bailout in sight, the White House rejected considering a more free market alternative proposed by House Republicans.
The alternative plan, announced Tuesday by Rep. Jeb Hensarling (R-Texas), chairman of the Republican Study Committee (RSC), replaces the $700 billion bailout package aimed at easing the credit crisis with a plan to federally insure mortgages up to 100 percent.
The current plan, supported by President Bush, would allow the Treasury Department to purchase the troubled mortgages and mortgage-backed securities, which are at the heart of the ongoing credit crisis.
Nonetheless, insurance is part of the revised proposal being considered by the Senate Wednesday, White House spokesman Tony Fratto said.
"It is mandated in the bill that if the Treasury puts in place the asset purchase, it must also put in place a guarantee plan," Fratto told CNSNews.com after the White House press briefing Wednesday.
I know the RSC wants only the insurance option and not the purchase option. We disagree with that and believe that the purchase program needs to be part of the solution here, Fratto said.
In addition to federally insured mortgages, the Republican Study Committee plan also includes tax cuts for businesses to promote investment and the sale of unwanted assets. There also are provisions in the plan for greater accountability of Government Sponsored Enterprises, such as Fannie Mae and Freddie Mac.
(Excerpt) Read more at cnsnews.com ...
Me too, man what a depressing thought.
Even considering the War on Terror, I regret both of my general election votes for Bush, as well as my primary votes for Bush.
Conservatives are heading out into the wilderness thanks to this man. Frat boy will be monkeying around on his ranch without a care in the world. How much do you want to bet that some of the Bush children will start showing up at DNC events as their “token Republicans”?
I think you are absolutely right. I don't think we were so wrong about Bushs' character. I think somebody is pulling his strings and the American people are in for something really bad and there is nothing Bush can do about it. He seems to have become a shell of a man. Something very wrong here.
...about the only mistake Reagan ever made.
nobody voted for bush in 2000 because of his vast foreign policy expertise
But wait, there’s more: we still have Jeb waiting for his turn, and his son, George P. Bush ready to run against Chelsea in 20 or so years. . .
Vast majority of Republicans are just big government politicians. Bush is pathetic. Left might be right on one thing. Bush is a moron.
Wow, sure a lot of hate Bush going on...IMO GWB was still preferable to Goran & Fraudor...on the short run. At least GWB managed to avoid losing Iraq. But he has become his father in the 2nd term and I immensely disliked GHWB.
Confirmation , once again, that the House kicking this to the curb is our last stand!
Confirmation , once again, that the House kicking this to the curb is our last stand!
In other news, a sh!t sandwich tastes like sh!t.
.
“we got 2good SCOTUS judges”
We shall see how they turn out in a few years.
Souter was a conservative for a couple of years too.
Perhaps the Bilderbergers are pulling the strings.
Yes, that will join some of his other highlights such as:
but Bush in the primary? that made no sense. I was for Forbes all the way
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