Monday, July 28, 2008

Bailout

Both the House and the Senate have now passed a massive housing relief bill. President Bush, who had previously said he would veto the bill, now says he will sign it.

Now I know what some of you are thinking, and you'd be wrong. It's only called "flip-flopping" when Democrats do it.

So why did Bush change his mind? Well, Congress decided to add billions of dollars of relief for mortgage giants Fannie Mae and Freddie Mac. In the earlier version of the bill, the relief was aimed solely at individual homeowners.

In other words, Bush wasn't interested in helping the little guy until big business--the very guys that got us into this mess in the first place--was taken care of first.

0 thoughtful ramblings: