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President Bush abandoned his veto threat and signed a housing bill that offers a federal bailout to the lenders and borrowers who helped inflate the housing bubble and now find themselves struggling to stay afloat.(The Week)(Brief article)

National Review

| August 18, 2008 | COPYRIGHT 2008 National Review, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

President Bush abandoned his veto threat and signed a housing bill that offers a federal bailout to the lenders and borrowers who helped inflate the housing bubble and now find themselves struggling to stay afloat. The near-collapse of government-sponsored mortgage buyers Fannie Mae and Freddie Mac forced the president's hand, as it led his Treasury secretary, Hank Paulson, to push hard for the authority to rescue the giants if need be. The bill's sole redeeming aspect is that it creates a new regulator for ...

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