Building on news that the bipartisan consensus behind the Senate’s “Foreclosure Enhancement Act” is beginning “to crumble,” the White House sent a letter to Speaker Nancy Pelosi (D-Calif.) today outlining what they would accept in housing legislation. The letter includes many strong principles that ought to be congratulated, including: We …
Yesterday House Republican leaders issued a joint statement outlining “Principles for Bipartisan Housing Legislation.” Many of the principles are sound in theory, but could also easily open the door to invasive and costly actual legislation. The Heritage Foundation responds to each of the principles below: Support Homeownership. Homeownership is central …
Considering how quickly the Senate is moving on a housing bailout bill (cloture scheduled for 2:15 Tuesday), it is surprising how universally unpopular some of its provisions are. Apparently Senators believe they have to show Americans they can “do something” on housing, but the details of this bill have few …
With rumors swirling that President Bush will submit the Colombia Free Trade deal to Congress Tuesday, Presdient Alvaro Uribe sat for interview with the Wall Street Journal. When told that Barack Obama opposed the deal citing violence against unions, Uribe replied: I deplore that Sen. Obama, apparently because he wants …
According to the E.J. Dionnes of elite media groupthink, the current economic troubles are due solely to unfettered Wall Street greed and the federal government’s only sin was not enough command and control of the economy. Former National Economic Council director Lawrence Lindsey sets the record straight: Contrary to the …
CQ reports that the Senate is debating “a contentious bankruptcy amendment” to the broad housing bill now under consideration. The amendment sponsored by Sen. Dick Durbin (D-IL) would empower federal judges to unilaterally and arbitrarily re-write mortgage contracts. The Heritage Foundation’s David John identified five reasons why this is disastrous …
