Well, that’s that. Housing rescue bill heads to Bush for signature
Congress passed the most significant housing legislation in decades Saturday, offering help to struggling homeowners and seeking to stabilize a troubled housing market that has dragged down the economy.
President Bush will sign it quickly…
…
Housing “is a matter of grave concern to many of us who see across America foreclosures that are taking away the homes of many American families and affecting the value of millions of other homes. But this could have been done yesterday,” said Sen. Richard Durbin, D-Ill.
Would anybody care to explain to me why it’s a bad thing when someone who should have never bought a home in the first place ends up in foreclosure? Why should we be spending our tax money to help people keep something they can’t afford, or to cover the losses of large institutions that took huge risks?
Of course, we all know the real reason this garbage passed:
“No matter what’s wrong with it, most of the members of this Senate are going to come in and vote for it, and check the box and go home and say they did something about housing,” [Sen. Jim] DeMint said.
Indeed.