Senate Passes Bad Mortgage Bill, House Seeks to Make It More Rotten
The Senate has just passed a bad, pork-laden “foreclosure relief” bill that would actually increase foreclosures, as the Washington Post earlier noted. House leaders are balking at the bill in its current form, because they want to make the bill much worse, by adding costly and economically-destructive mortgage bailouts, even though most citizens oppose mortgage bailouts. Left-wing lobbying groups stand to make a killing at taxpayers’ expense from Congressional foreclosure-relief bills.