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A broad bipartisan coalition supporting a massive foreclosure rescue beat back GOP efforts to gut it, defying a White House veto threat.
Background information:
- White House threatens veto of foreclosure rescue
- Dodd: Everyone Benefits From Housing Bill
- Mortgage groups blast parts of Senate housing bill
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We asked our panel:
Should Congress pass the $300 billion housing bailout bill?
Results:
YES 3
NO 9![]()
The Kudlow Caucus Breakdown
| NO | |
| NO | |
| NO | |
| NO | |
| NO | |
| NO Art Laffer Fmr. Reagan Economic Advisor Chief Investment Officer, Laffer Investments Absolutely not. This bill is a terrible misallocation of resources. Taxpayers have done nothing whatsoever to deserve to foot the bill for bad loans undertaken by others. | |
| YES Joe LaVorgna Managing Director, Chief US Economist, Deutsche Bank Securities, Inc. Anything that Congress can do that even at the margin helps home prices stabilize is a good thing. | |
| YES | |
| NO | |
| NO | |
| YES | |
| NO Gary Shilling A. Gary Shilling & Co. President With falling house prices, it would only postpone foreclosures if lenders cooperate, and therefore cost tax payers even more money. It would create false hopes since with securitizations and other technical impediments, lenders are unlikely to cooperate in writing down mortgages. |















