Bush Says He Won't Back Bill That Bails Out Lenders

By: Associated Press
By: Associated Press


WASHINGTON (AP) - President Bush says he remains opposed to any
homeowner rescue package that would "bail out lenders."
The president's comments Monday came as Senate leaders are
working on a bipartisan bill to help strapped borrowers get
government-backed mortgages, although Bush did not comment on that
legislation directly. Bush has already threatened to veto a House
version of the bill he considers bloated.
In the Oval Office, Bush told reporters that "laws shouldn't
bail out lenders." He said the government ought to be helping
credit-worthy people stay in their homes.
The president pushed Congress to pass legislation to more
tightly regulate Fannie Mae and Freddie Mac, the
government-sponsored companies that finance home loans.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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