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.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.