Administration presses for mortgage giant rescue

[Terri]

By JULIE HIRSCHFELD DAVIS
Associated Press
July 17, 2008

WASHINGTON (AP) -- The Bush administration lobbied skeptical lawmakers Wednesday to support a rescue plan for Fannie Mae and Freddie Mac, as lawmakers weighed how to protect taxpayers while still giving the government unfettered power to pour money into the mortgage giants.

The administration's request for urgent action to prop up the troubled companies has sparked concern in Congress, particularly among Republicans who are loath to let the government interfere in financial markets. But it's also sweeping away the last obstacles to a separate broad housing package that's expected to clear Congress by the end of the month.

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[Cynical Pete]

The contest continues. Which adminstration will destroy America? I vote for the Democrats closely followed by 1% difference of the Republicans. Only time will tell.