Housing Bailout Bill Likely
When does a ‘rescue’ become a ‘bailout’? I think we’re about to find out.
From Market Watch on the Congressional Housing Rescue bill:
A key House Democrat said that it is now almost certain that Congress will be able to craft a significant housing rescue package after Senate Republicans and Democrats were able to reach a bipartisan compromise. “[I]t is highly likely we will be able to compromise on a significant housing package,” Frank said in a statement after the Senate Banking panel approved the Senate version of the bill. “There are of course some differences between the two bills and we will need to work on these differences, but I look forward to continued cooperation between members of the House and Senate to achieve a mutually agreed housing package sometime next month,” Frank said.