July 30th, 2008
08:29 AM ET
4 years ago

CNNMoney.com: Bush signs housing rescue law

President Bush has signed the housing bill.
President Bush has signed the housing bill.

NEW YORK (CNNMoney.com) – President Bush on Wednesday signed into law a sweeping housing bill that aims to boost the struggling housing market and bolster mortgage finance giants Fannie Mae and Freddie Mac.

The Senate voted 72-13 in favor of the bill on Saturday, after the House passed it three days earlier.

"We look forward to put in place new authorities to improve confidence and stability in markets, and to provide better oversight for Fannie Mae and Freddie Mac," said White House spokesman Tony Fratto. "The Federal Housing Administration will begin to implement new policies intended to keep more deserving American families in their homes."

Full story


Filed under: President Bush
soundoff (143 Responses)
  1. A NATION OF WHINERS for OBAMA

    LET US LOOK AT THIS.

    HE DEREGULATED THE INSTITUTIONS THAT MADE THOSE

    LOANS. IN AS MUCH AS, WE DON'T HAVE A CHOICE BUT TO

    GO THIS ROUT, NOW HE IS GIVING TAX DOLLARS TO MAKE

    SURE THEY GET PAYED. THE MONEY STILL GOES IN SOME

    MANNER FROM OUR POCKET TO THEIRS.

    July 30, 2008 12:49 pm at 12:49 pm |
  2. Richard, St. Paul, MN

    FLIP- FLOP.... from the biggest scum bag in the Free World. Can't wait for him to be out of office and in court accounting for his War Crimes!

    July 30, 2008 12:49 pm at 12:49 pm |
  3. FLA Voter

    To you Obama supporters...What is it the he has "promised" that you like about him? Forget about all of the one liners and the fact that he can public speak for a minute.

    Give me some examples of his energy policy that you like?
    Give me some examples of his foreign policy that you like?
    Give me some examples of his tax policy that you like?

    I am just curious...because where I sit he is for no local energy sources, appeasment, and higher taxes.

    Is that really what you want?

    July 30, 2008 12:52 pm at 12:52 pm |
  4. Darryl

    Can we just Impeach President Bush and Dick Chaney?

    John Kerry said that George Bush and Dick Chaney was two of the biggest crooks we ever had in the white house....

    July 30, 2008 12:54 pm at 12:54 pm |
  5. GINA, OHIO

    FINALLY!!!!! UNFORTUNATELY THE OTHER 1.5 MILLION OTHERS ALREADY LOST THEIR HOMES CAUSE YOU WAITED TOO LONG MORON!!!!

    July 30, 2008 12:55 pm at 12:55 pm |
  6. Dr.Mimi De La Cruz for OBAMA

    OUR CROOK & THIEF & FRIENDS HAVE PUT US IN THIS

    POSITION & NOW THEY ARE USING OUR TAX DOLLARS

    TO DO US A FAVOR. HE DID NOT HAVE A CHOICE. THE VETO

    WOULD HAVE BEEN OVERTURNED. WE SHOULD NOT ELECT

    PEOPLE WHO KNOW NOTHING ABOUT THE ECONOMY !!!!!!!!!!!

    IF WE GAVE BUSH & MCBUSH THE GED TEST,

    GUARANTEED, BOTH WOULD FAIL IT, HANDS DOWN.

    July 30, 2008 12:56 pm at 12:56 pm |
  7. Doris,Memphis,TN

    Do Americans want another one in the White House?
    No,No, No!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    July 30, 2008 01:02 pm at 1:02 pm |
  8. Chris, PENN

    Newsflash! wow oh wow! Obama just made a speech today to the RNC Dems and quoted to say..." I am the sypmbol of america's possibilities". Mine.....so this is what the audacity of presumtuouness and arrogance looks like.

    I also didn't know I was yurning to have the possibility of putting my own personal interests before my country. Didn't know the bar was set so low...hmmmm.

    July 30, 2008 01:03 pm at 1:03 pm |
  9. Phineas J. Whoopie, you're the greatest! Come along, Chumly.

    THIS is yet another example of why true Conservatives DO NOT LIKE GWB. Pretending to be a conservative, but in actions behaves like FDR. Ninety-five to 96 percent of American home owners are paying their mortgages and are not living in fear of foreclosure, yet we have to craft "emergency" legislation for the irresponsible 4-5 percent.

    Hells bells, maybe my car payment is too high because I bought more car than I could afford, and I'm faced with the possibility of it being repossessed... can Congressional liberals and my wolf-in-sheeps clothing president craft some legislation to pay for my fiscal irresponsibility?

    July 30, 2008 01:04 pm at 1:04 pm |
  10. judy, Wisconsin

    Typical Bush–takes credit for something after his threat to veto it. He thanked McCain when he signed the recent Webb GI bill, even though McCain didn't vote for the bill and rarely has supported any bills supporting the troops. When will the Bush supporters and die-hard Repubs get a clue on their so called "leaders".

    July 30, 2008 01:05 pm at 1:05 pm |
  11. Alex

    I'm shocked! Guess one of Bush's buddies called and said he needs a bailout. This president would sign anything to help his buddies and think twice if it helped the average citizen. It'll be so nice to see him leave office after such a disappointing and dismal display of leadership (or the lack thereof). As for the "GED" test (previous comment), someone please explain to Bush what "GED" stands for.

    July 30, 2008 01:07 pm at 1:07 pm |
  12. Kathryn Irby - Metairie, LA

    George W. Bush, it's just too little, too late! You're just trying to unscrew-up your pitiful legacy, and it will not work! Eight long years of your incompetence, and your legacy is shot straight to Hell once and for all!

    July 30, 2008 01:18 pm at 1:18 pm |
  13. DIZIZI31

    3 days to sign.. obviously waiting for CNN polls before making a decision. Kinda like the Katrina fiasco. Better late than NEVER

    July 30, 2008 01:19 pm at 1:19 pm |
  14. flavoter

    If Bush touched it it will fail.....Lets get a backup plan together now!!!!

    I hope for many american it does succeed, but reality shows that the Bush / McCain years have totally undermined working americans.
    If you aren't rich then to them we don't matter.... 1 america some over look this point.. Bush / McCain endorse the theory of the haves and the have nots..

    Obama / Powell 08

    July 30, 2008 01:23 pm at 1:23 pm |
  15. DJ, LA, CA

    If the housing market was properly REGULATED in the first place...taxpayers wouldn't be left paying the bill.

    This is a joke, that we the taxpayers, have to reward irrepsponsible lenders for predatory lending practices, corruption and greed.

    July 30, 2008 01:30 pm at 1:30 pm |
  16. FLA Voter

    You people have no idea what you are talking about!!! Bush is NOT the reason these people lost their homes.

    Let me put it to you plain and simple...the reason most of these people lost their homes was because they had no personal ability to figure out that they couldn't spend more per month than they make. So, interest rates went up and their payments went up with them. They went after the biggest house with the biggest mortgage without making enough money each month to pay for it.

    Liberals believe government should pay for everything. WHAT ABOUT A LITTLE PERSONAL ACCOUNTIBLITY!!!

    By-the-way...this sham of a housing bill, which has exploded the national debt...is the product of Pelosi and Reid working hard for YOU!!

    July 30, 2008 01:30 pm at 1:30 pm |
  17. Greg Pottstown, Pa.

    Bob, topeka, ks July 30th, 2008 10:44 am ET

    It is not the governments job to protect the public from its own ignorance. I bought my first home 4 years ago at the age of 21 and paid 20% down. No crazy mortgage terms for me, and Im no trust fund baby. I save for larger goals at the expense of the frivoulous items people seem to feel entitled to. If you are determined to have everything now regardless of your ability to pay for it and without thinking of the consequences later on, you deserve to lose your home. You shouldn't have bought it in the first place. The responsible folks in this country should not have to pay your bills for you. We have plently of our own.

    You are the man !!!!!!!!!!!! That is just like me.I have some nice houses but i am yet to own a hd/flat/plasma/big screen TV. many of my friends have them and always cry about not being able to afford a down payment on a house. I tell them stop spending your money on crap like cars and Tvs.

    July 30, 2008 01:36 pm at 1:36 pm |
  18. TJ Johnson

    Why, "Gil Texas", would other countries want Obama to be president when they don't even know him?

    July 30, 2008 01:40 pm at 1:40 pm |
1 2 3 4 5 6