All stories about "Bailouts"

Is that the sound of squealing brakes we hear? Oh yes, yes it is: George W. Bush has announced that he will not back bipartisan legislation the Senate finally agreed upon; the measure is designed to help homeowners stay solvent by (in part) placing Freddie Mac and Fannie Mae under closer government watch. Sez his brizzilliance: "Laws shouldn't bail out lenders" ... "Laws shouldn't help speculators. The government ought to be helping creditworthy people stay in their homes." [SF Gate]

Further deets to come, but the word is out that Republican and Democrat Senate committee leaders have reached an agreement on legislation aimed to help homeowners keep their homes by tightening regulation of government-backed lenders Fannie Mae and Freddie Mac. No word yet on whether or not Bush is on board with this proposed plan, though he did reject an earlier iteration. [NYT]

It totally passed in the House, as per predictions— 39 Republicans even broke ranks to sign the bill which, if passed, will tweak the Federal Housing Administration's policies in order to help 500,000 borrowers who are in various levels of deep shit. Says the White House: "House Democrats passed bills that they know will never become law ... Most Americans understand that we shouldn't create a taxpayer-funded bailout for lenders and speculators." We're standing by as Bush sharpens his veto quill. [Reuters]