GO
Loading...

Housing Bill Showdown

Tuesday, 8 Apr 2008 | 6:22 PM ET

Opposition from the White House isn’t going to stop the $25 billion Housing Bill from passing the Senate. And the measure, which could include tax breaks for homebuilders and lenders as well as credits for homebuyers, is likely to get even more spending tacked onto it by the House.


Tomorrow's Trades #1
The President's opposition won't stop the $25 billion housing bill from passing in the Senate tomorrow, with the Fast Money crew.

But anytime Congress throws something together on the fly, Karen Finerman gets nervous. “Nothing good can from it,” she said, but that doesn’t mean there isn’t a way to profit from it.

While tax credits are a “terrible idea,” according to Finerman, the homebuilders are sure to benefit if the bill becomes law. It should be good for GSEs like Fannie Mae and Freddie Mac too, she said.

Jeff Macke agreed that the bill is bad policy, mostly because it was created so quickly (these government-sponsored measures to address the economy should move “glacially slow,” he said). Nevertheless, he thinks Fannie Mae is a buy if it passes.

Guy Adami went the retail route and recommended Home Depot .

  Price   Change %Change
FNMA
---
FMCC
---
HD
---

Featured

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report