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ALL BUSINESS:Taxpayers on hook for mortgage rescue (El Paso Times) NEW YORK—We knew it could happen, even though they said it wouldn't. The government is using our money again to haul private companies' hindquarters out of the fire—this time it's troubled mortgage giants Fannie Mae and Freddie Mac.
House OKs mortgage rescue legislation (Chicago Tribune) Bush drops threat to veto mortgage bill The House has approved a sweeping plan to ease the most serious housing crisis since the Great Depression by providing aid to homeowners facing foreclosure and a federal backstop for struggling mortgage giants Fannie Mae and Freddie Mac. President George W. Bush drops a threat to veto the bill.
House OKs housing rescue plan; Bush drops veto threat (Chicago Tribune) Bush drops threat to veto mortgage bill The House approved a sweeping plan Wednesday to ease the most serious housing crisis since the Great Depression by providing aid to homeowners facing foreclosure and a federal backstop for struggling mortgage giants Fannie Mae and Freddie Mac.
Mortgage rescue plan raises concern (The State) Taxpayers might get stuck will bill for assisting Fannie Mae, Freddie Mac WASHINGTON — Now that the federal government has thrown a lifeline to mortgage giants Fannie Mae and Freddie Mac, taxpayers could be on the hook for billions more if the crisis of confidence spreads. There were encouraging signs Monday for the rescue plan, but also signs of concern — notably on Wall Street, where shares ...