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Prague, Czech Republic news

23.07.2008 - Bush drops veto to housing bill

The White House says President George W Bush has ended opposition to a housing bill, which could boost the US economy.
The change of heart comes despite his objection Ex-Bush spokesman Snow dies ...
Area of one third of Czech Senate constituencies to change ...
China and representatives of Dalai Lama to resume talks ...
Bush aides 'may have broken law' ...
US imposes sanctions on PKK group ...
Abbas complains of slow progress ...
to a provision for $3.9bn (Ј1.95bn) in community grants to buy up and repair foreclosed homes.

The Czech Republic news are represented by www.prague-czech-republic-travel.com


The bill means the government could help struggling homeowners get new, cheaper loans.
It would also be allowed to propose cash injections for troubled mortgage giants Fannie Mae and Freddie Mac.
Many congressional Republicans are angry about the housing legislation, which they say bails out irresponsible homeowners and unscrupulous lenders.
"The positive aspects of the bill are needed now to increase confidence and stability in the housing and financial markets," White House spokeswoman Dana Perino said.
The legislation was scheduled to come to a vote in the US House of Representatives on Wednesday.
If approved, it would then go to the Senate for final passage.

(BBC)


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