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Morning Mortgage Melt... Up? Reprieve for Housing Relief Package

Triumph (if only momentary) for the the housing relief package, a bipartisan coalition of donkeys and elephants have been toiling over for months now— for the moment, they've hosed down editorial efforts by the GOP, along with President George W. Bush's veto threats. (Though neither will retreat any time soon, surely.) The GOP opposes the legislations' $4 billion plan to help the state buy and rehab foreclosures while passing the buck to Federally-backed Fannie Mae and Freddie Mac. On a more scandalous note, House and Senate Republicans are shocked and awed that two of the bill's authors— no, even better, two of the Senate Banking and Budget Committee's chairmen— received cut rate mortgages from a VIP program at Countrywide. Minds: boggled.
· Strong coalition saves housing rescue package Margins appear large enough to override veto [SF Gate]
· Stop That Save: Bush Won't Back Mortgage Bailouts [Curbed SF]
· Pelosi Begs Bush to Back Mortgage Plan [Curbed SF]
· S.O.S.: Bush Votes Down Mortgage Meltdown Measure [Curbed SF]