The US taxpayer is about to be saddled with hundreds of billions of dollars in bailouts to pay for the idiotic decisions of those that gleefully inflated the housing bubble.
At 11:00 AM Eastern TOMORROW (Saturday), the Senate votes on the “housing rescue” bill, which includes:
…an unlimited line of credit to Fannie and Freddie, allows the government to insure up to $300 billion in refinanced mortgages and extends a tax break of as much as $7,500 to first-time home buyers.
While it is probably inevitable by now, the Senate hasn’t voted yet, so there is still time to contact our Senators and try to explain what a horrible idea this is.
Maria Cantwell:
Phone: (202) 224-3441
Fax: (202) 228-0514
Email Form
Patty Murray:
Phone: (202) 224-2621
Fax: (202) 224-0238
Email Form