Senate Set to Vote on Housing Bill Tomorrow

Credit Union Times ^ | July 25, 2008 | Claude R. Marx

[WildcatClan]

After months of partisan wrangling that included some key disagreements between Congress and the White House, the Senate is scheduled to vote tomorrow on the housing relief bill.

The House approved the measure (H.E. 3221) on Wednesday, mostly along party lines. Most House Republicans opposed it, complaining about the cost and the provisions to give the Treasury Department to buy shares of Fannie Mae and Freddie Mac.

The bill sets up a fund, financed by Fannie Mae and Freddie Mae, to provide government loans to help some of the victims of the subprime mortgage crisis refinance their mortgages. It also strengthens regulatory oversight of Fannie and Freddie.

Although the Senate is often less partisan than the House, Senate Majority Leader Harry Reid (D-Nevada) on Friday criticized the GOP for delaying passage of the measure, which he predicted the chamber would approve.

If the Senate passes the bill, it would be sent to President Bush who has said he will sign it, even though he had previously expressed reservations about it.

[WildcatClan]

Note the date of the article was over two months ago. I am just taking you back in time to see the Rats at work, doing the things Rats do. The Rats saw the ship was sinking and tried to spend taxpayers money and threw in weak "strengthening oversight" regulations for appearance.

[cp124]