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

CNNMoney.com: Bush signs housing rescue law

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/07/30/art.bush1.ap.jpg caption="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. McCain goes with the platform flip-flops

    Bush is taking credit for signing aid into law – Didn't he help create the situation in which aid was direly needed????

    July 30, 2008 09:37 am at 9:37 am |
  2. mwm

    please resign.

    July 30, 2008 09:38 am at 9:38 am |
  3. Bob, topeka, ks

    Sad day for America. One step closer to a socialist country. What reason is there to think about risk when big brother will bail you out if you fail?

    July 30, 2008 09:39 am at 9:39 am |
  4. mayahh

    Hope it does not fall into the hands of the Alaska Senator,,,american people might not benefit..

    July 30, 2008 09:40 am at 9:40 am |
  5. Bob Indianapolis, IN

    Not to late to commit hara-kiri ....Think about it...

    July 30, 2008 09:47 am at 9:47 am |
  6. Core

    To all those that say this is socialism, I say if our government failed to do its job then it better help the American people it failed to protect and serve. A government by the people for the people.

    July 30, 2008 09:48 am at 9:48 am |
  7. Sarah, 23, FL

    This bill is a few years late...BUSH, the American people need you to RESIGN!!!!!!

    July 30, 2008 09:50 am at 9:50 am |
  8. Eddie Blake

    Great move, Mr. President. History will remember you fondly!

    July 30, 2008 09:52 am at 9:52 am |
  9. denny smith

    The Feds were the ones that got us here in the first place, everyone keeps blaming banks but it was Bush who loosened it in order to get minority votes in 04...

    July 30, 2008 09:52 am at 9:52 am |
  10. mediabias

    CNN Where is the story about 72 % of the media coverage Obama receives is negative. Covert racism at work in MSM. While MSM edit and slice McCain gaffes and misstatements.

    July 30, 2008 09:53 am at 9:53 am |
  11. mediabias

    Again, CNN Where is the story about 72 % of the media coverage Obama receives is negative. Covert racism at work in MSM. While MSM edit and slice McCain gaffes and misstatements.

    July 30, 2008 09:54 am at 9:54 am |
  12. Jim CO

    Not to long ago I can remeber Bush saying how every one can now own a home. We as tax payers are bailing out his failed policies and will pay for with no end in sight.

    July 30, 2008 09:54 am at 9:54 am |
  13. Eric - Pittsburgh

    It's scary how this country is falling toward Socialism and everyone is thrilled to death about it coughBarackObamacough.

    July 30, 2008 09:55 am at 9:55 am |
  14. Donna

    Someone should have slipped the Impeachment papers into the stack so he could sign his OWN IMPEACHMENT...we all know he doesn't READ what he signs...

    July 30, 2008 09:55 am at 9:55 am |
  15. Andy J, NY

    Bob from Topeka-

    Right on. This is very sad. The average, hard working american gets crapped on because we feel the need to bail out people who made poor decisions and purchased homes they couldn't even dream of affording. The banks and the home purchasers deserve to fail, they need to fail, and we need to NOT pay for it. There is no incentive for this type of behavior to discontinue, because the precedent for government and tax payer intervention has been set. Watch out, America- next stop, socialism.

    As for the other 3 of the first 4 posters here, you are idiots. thanks for contributing absolutely zero to the topic. Not everything is the President's fault- why don't you make and effort to know what you are talking about, instead of spewing the garbage the main stream media feeds you. moron.

    July 30, 2008 09:55 am at 9:55 am |
  16. Denise Groves

    after he resued all the firms that were mismanaged by old, wrinkly, arrogant, greedy too rich, white men.

    July 30, 2008 09:55 am at 9:55 am |
  17. Amit NYC

    anything this guy touches turns to dust. impeachment please.

    July 30, 2008 09:56 am at 9:56 am |
  18. DEBBY, NJ

    You should have done this a year ago...Not going to work...You Are A Troll BUSH !!!!

    July 30, 2008 09:58 am at 9:58 am |
  19. Greg Pottstown, Pa.

    only going to help people that don't deserve help.

    July 30, 2008 10:02 am at 10:02 am |
  20. Swift

    And it was McInsane's economic advisor, Phil Grahm, and his republiscum thugs, that caused it in the first place.

    July 30, 2008 10:02 am at 10:02 am |
  21. James Nelson

    How typical of the Republicans and of Bush II in particular– create a giant mess through your own incompetnece and greed and then take credit for someone else doing the clean-up work! I'm only surprised that they couldn't figure out how to give a few more billions to their wealthy buddies, in the bargain.

    July 30, 2008 10:03 am at 10:03 am |
  22. ProudToBeDemocrat

    Big deal he destroyed this country the what is big deal of signing congress prepared bill. Please impeach this guy.

    July 30, 2008 10:07 am at 10:07 am |
  23. Dave C - NJ

    But wait...what about "Personal Responsibility?"

    You republicans are a joke. Seems like you are all about capitalism unless someone tanks. Then you get a bailout.

    More of our taxes go to Corporate Welfare than food stamps...wake up. This is how it works.

    On the FOX blogs, these crusty old conservatives like to say "The Day I see a Poor Man give a Rich Man a job is the day I vote Democrat." Well, genius, there would be no rich men if poor men weren't spending money on your products, so eat your words and vote DEM!

    July 30, 2008 10:08 am at 10:08 am |
  24. Ian

    One more band-aid instead of addressing the root cause. I wonder how long it will take for this to negatively affect the value of the dollar.

    July 30, 2008 10:10 am at 10:10 am |
  25. not an obamabot, thank GOD

    we are stupid and cant read, or budget, but we heard everyone else was making money from buying houses so we wanted in even though we cant afford it, so taxpayers, I mean govt bail us idiots out!

    July 30, 2008 10:10 am at 10:10 am |
1 2 3 4 5 6