Veto of Mortgage Relief Bill
HOT OFF THE PRESS: President Bush says he will not allow the Democrat bill to become law, as reported by the New York Times. I am glad. Your thoughts?
See link here:
http://www.nytimes.com/2008/02/27/business/27housing.html?_r=1&ex=1361854800&en=a0d3a8e949e5d566&ei=5088&partner=rssnyt&emc=rss&oref=slogin
The article begins as follows:
"President Bush sided with banks and mortgage lenders on Tuesday, threatening to veto a bill being offered by Senate Democrats that would give more bargaining power to homeowners who face foreclosure.
Opening what is likely to be an intense political battle in the deepening mortgage crisis, the White House said it strongly opposed the bill, which would let bankruptcy court judges modify the terms of a mortgage as part of the restructuring of a debt in a bankruptcy filing..."