From AP:WASHINGTON - A top housing official said Thursday that the Bush administration "strongly opposes" Democrats' housing rescue package, calling it a bailout that would expose taxpayers to excessive risk.
The comments, in separate letters to lawmakers, were the most forceful rejection yet by the Bush administration of Democrats' housing aid plans. And they were the clearest indication to date that the White House intends to put up a vigorous fight against a bill to let the Federal Housing Administration take on as much as $300 billion in new mortgages for financially strapped homeowners.
Ok, let me get this straight. Helping out strapped homeowners "is a bailout that would expose taxpayers to excessive risk." But, helping out Bear-Stearns is what??
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