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From Bush's press conference

At home, Bush ruled out any bailout of homeowners hit with foreclosures in the form of direct assistance. But he said "enormous empathy" is in order for such people and indicated he was open to some federal help for people to refinance and keep their homes.

"The word bailout _ I'm not exactly sure what you mean. If you mean direct grants to homeowners, the answer would be no," the president said.

Wonder what he means by "federal help for people to refinance..."

I can swear there ain't no heaven but I pray there ain't no hell. _ Blood Sweat & Tears

by Gringo (stargazing camel at aoldotcom) on Thu Aug 9th, 2007 at 03:54:28 PM EST
Maybe easy conversions to fixed rate loans as someone mentioned yesterday.

you are the media you consume.

by MillMan (millguy at gmail) on Thu Aug 9th, 2007 at 04:15:57 PM EST
[ Parent ]
Wouldn't that mean federal loan guarantees?

I can swear there ain't no heaven but I pray there ain't no hell. _ Blood Sweat & Tears
by Gringo (stargazing camel at aoldotcom) on Thu Aug 9th, 2007 at 07:24:50 PM EST
[ Parent ]

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