Pols: Govt Here to Help, Not Bail Out
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Bail Out, housing market March 3rd, 2008WASHINGTON (AP) — Bailout is a dirty word in the nation’s capital. Lately, efforts by both Democrats and Republicans to clean up the housing mess are getting sullied with the b-word.
An inappropriate use of taxpayer dollars is what President Bush and Treasury Secretary Henry Paulson call some plans in Congress to aid homeowners stung by the mortgage market mess. For their part, Democrats say the Bush administration is more interested in bailing out Wall Street than Main Street.
But despite the toxic reputation of bailouts, more and more lifelines keep getting tossed — including one administration plan dubbed “Project Lifeline.”
With the housing market wheezing and presidential candidates seizing on the crisis, politicians and government officials will likely toss out more proposals, rescue plans and initiatives. Whatever these plans are called, both Democrats and Republicans are being careful to couch their proposals as an effort to aid homeowners — and not mortgage lenders — amid an ever-widening economic problem, though it’s nearly impossible to aid one without helping the other.
Tags: Bail Out, housing market
