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July 30, 2008
Bush Signs Housing, Economic Recovery Bill
Bush signs housing bill in private
With none of the fanfare that usually attends a landmark bill becoming law, President Bush signed the huge housing rescue bill just after 7 a.m. Wednesday, shortly after he arrived in the Oval Office.
Only a few aides and administration officials were present, including Secretary of Housing and Urban Development Steve Preston and James B. Lockhart III, the director of the Federal Housing Finance Agency.
The White House announced the signing by e-mail moments later.
The bill, the biggest overhaul of housing law in decades, provides a lifeline for an estimated 400,000 homeowners facing foreclosure, and provides assurances to the mortgage giants Fannie Mae and Freddie Mac, whose books are loaded with bad mortgages.
Usually such a bill signing is accompanied by a self-congratulatory ceremony, with souvenir pens for congressional leaders and for members, senators and chairmen who spearheaded the legislation.
But Bush initially vowed to veto the bill as being overly socialistic. He finally dropped his objection when he decided that it was better than nothing. In a rare split, House Republicans opposed the bill and business interests like home builders and bankers favored it.
The White House had said there would be no bill-signing event, with one administration official noting ruefully that they had no desire to trumpet the accomplishment of the committee chairmen, Sen. Chris Dodd (D-Conn.) and Rep. Barney Frank (D-Mass.).
Here are some of the things that our nitwits just voted for: (from various news sources)
"The bill includes several cherished Democratic priorities, including the creation of a permanent affordable housing fund to be financed by Fannie Mae's and Freddie Mac's profits and the neighborhood grants."
"Democrats won concessions as part of the compromise, including a permanent affordable housing program to be financed by the two companies' profits and the $3.9 billion in grants."
"The 694-page bill would establish the $300-billion fund under the Federal Housing Administration to help distressed homeowners get more affordable, government-backed mortgages and get out from under exotic mortgages they cannot afford."
"Texas Republican Sen. Kay Bailey Hutchison said the housing bill had positive aspects. But she added, "I am troubled by the inclusion of an unlimited U.S. Treasury credit line to Fannie Mae and Freddie Mac" and possible government stock purchases."
"The bill would also create a new regulator for the GSEs with sharper teeth than the existing one, including authority over how much money the companies pay their top executives."
"The legislation also offers tax breaks to spur home-buying; sets up the first national licensing system for mortgage brokers and loan officers and raises the limit on the size of mortgages that can be guaranteed by federal agencies."
How they voted: House roll call on housing bill
The 272-152 roll call Wednesday by which the House passed a bill that aims to help homeowners facing foreclosure and to prevent mortgage giants Fannie Mae and Freddie Mac from collapsing.
A "yes" vote is a vote to pass the bill.
Voting yes were 227 Democrats and 45 Republicans.
Voting no were 3 Democrats and 149 Republicans.
X denotes those not voting.
ALABAMA
Democrats — Cramer, Y; Davis, Y.
Republicans — Aderholt, N; Bachus, N; Bonner, N; Everett, N; Rogers, Y.
ALASKA
Republicans — Young, N.
ARIZONA
Democrats — Giffords, Y; Grijalva, Y; Mitchell, Y; Pastor, Y.
Republicans — Flake, N; Franks, N; Renzi, N; Shadegg, N.
ARKANSAS
Democrats — Berry, Y; Ross, Y; Snyder, Y.
Republicans — Boozman, N.
CALIFORNIA
Democrats — Baca, Y; Becerra, Y; Berman, Y; Capps, Y; Cardoza, Y; Costa, Y; Davis, Y; Eshoo, Y; Farr, Y; Filner, Y; Harman, Y; Honda, Y; Lee, Y; Lofgren, Zoe, Y; Matsui, Y; McNerney, Y; Miller, George, Y; Napolitano, Y; Pelosi, Y; Richardson, Y; Roybal-Allard, Y; Sanchez, Linda T., Y; Sanchez, Loretta, Y; Schiff, Y; Sherman, Y; Solis, Y; Speier, Y; Stark, Y; Tauscher, Y; Thompson, Y; Waters, Y; Watson, Y; Waxman, Y; Woolsey, Y.
Republicans — Bilbray, N; Bono Mack, Y; Calvert, Y; Campbell, Y; Doolittle, N; Dreier, Y; Gallegly, Y; Herger, N; Hunter, Y; Issa, N; Lewis, Y; Lungren, Daniel E., Y; McCarthy, N; McKeon, Y; Miller, Gary, Y; Nunes, N; Radanovich, N; Rohrabacher, N; Royce, N.
COLORADO
Democrats — DeGette, Y; Perlmutter, Y; Salazar, Y; Udall, Y.
Republicans — Lamborn, N; Musgrave, N; Tancredo, N.
CONNECTICUT
Democrats — Courtney, Y; DeLauro, Y; Larson, Y; Murphy, Y.
Republicans — Shays, Y.
DELAWARE
Republicans — Castle, Y.
FLORIDA
Democrats — Boyd, Y; Brown, Corrine, Y; Castor, Y; Hastings, Y; Klein, Y; Mahoney, Y; Meek, Y; Wasserman Schultz, Y; Wexler, Y.
Republicans — Bilirakis, N; Brown-Waite, Ginny, X; Buchanan, Y; Crenshaw, N; Diaz-Balart, L., Y; Diaz-Balart, M., Y; Feeney, N; Keller, Y; Mack, N; Mica, N; Miller, N; Putnam, Y; Ros-Lehtinen, Y; Stearns, N; Weldon, N; Young, N.
GEORGIA
Democrats — Barrow, Y; Bishop, X; Johnson, Y; Lewis, Y; Marshall, Y; Scott, Y.
Republicans — Broun, N; Deal, N; Gingrey, N; Kingston, N; Linder, N; Price, N; Westmoreland, N.
HAWAII
Democrats — Abercrombie, Y; Hirono, Y.
IDAHO
Republicans — Sali, N; Simpson, N.
ILLINOIS
Democrats — Bean, Y; Costello, Y; Davis, Y; Emanuel, Y; Foster, Y; Gutierrez, Y; Hare, X; Jackson, Y; Lipinski, Y; Rush, X; Schakowsky, Y.
Republicans — Biggert, Y; Johnson, N; Kirk, N; LaHood, Y; Manzullo, N; Roskam, N; Shimkus, N; Weller, Y.
INDIANA
Democrats — Carson, Y; Donnelly, Y; Ellsworth, Y; Hill, Y; Visclosky, Y.
Republicans — Burton, N; Buyer, N; Pence, N; Souder, N.
IOWA
Democrats — Boswell, X; Braley, Y; Loebsack, Y.
Republicans — King, N; Latham, N.
KANSAS
Democrats — Boyda, N; Moore, Y.
Republicans — Moran, N; Tiahrt, N.
KENTUCKY
Democrats — Chandler, Y; Yarmuth, Y.
Republicans — Davis, N; Lewis, N; Rogers, N; Whitfield, N.
LOUISIANA
Democrats — Cazayoux, Y; Jefferson, Y; Melancon, Y.
Republicans — Alexander, N; Boustany, Y; McCrery, Y; Scalise, N.
MAINE
Democrats — Allen, Y; Michaud, Y.
MARYLAND
Democrats — Cummings, Y; Edwards, Y; Hoyer, Y; Ruppersberger, Y; Sarbanes, Y; Van Hollen, Y.
Republicans — Bartlett, N; Gilchrest, Y.
MASSACHUSETTS
Democrats — Capuano, Y; Delahunt, Y; Frank, Y; Lynch, Y; Markey, Y; McGovern, Y; Neal, Y; Olver, Y; Tierney, Y; Tsongas, Y.
MICHIGAN
Democrats — Conyers, Y; Dingell, Y; Kildee, Y; Kilpatrick, Y; Levin, Y; Stupak, Y.
Republicans — Camp, N; Ehlers, N; Hoekstra, N; Knollenberg, Y; McCotter, N; Miller, N; Rogers, N; Upton, N; Walberg, N.
MINNESOTA
Democrats — Ellison, Y; McCollum, Y; Oberstar, Y; Peterson, Y; Walz, Y.
Republicans — Bachmann, N; Kline, N; Ramstad, N.
MISSISSIPPI
Democrats — Childers, Y; Taylor, Y; Thompson, Y.
Republicans — Pickering, Y.
MISSOURI
Democrats — Carnahan, Y; Clay, Y; Cleaver, Y; Skelton, Y.
Republicans — Akin, N; Blunt, N; Emerson, N; Graves, N; Hulshof, X.
MONTANA
Republicans — Rehberg, N.
NEBRASKA
Republicans — Fortenberry, N; Smith, N; Terry, N.
NEVADA
Democrats — Berkley, Y.
Republicans — Heller, Y; Porter, Y.
NEW HAMPSHIRE
Democrats — Hodes, Y; Shea-Porter, Y.
NEW JERSEY
Democrats — Andrews, Y; Holt, Y; Pallone, Y; Pascrell, Y; Payne, Y; Rothman, Y; Sires, Y.
Republicans — Ferguson, Y; Frelinghuysen, N; Garrett, N; LoBiondo, N; Saxton, N; Smith, Y.
NEW MEXICO
Democrats — Udall, Y.
Republicans — Pearce, N; Wilson, N.
NEW YORK
Democrats — Ackerman, Y; Arcuri, Y; Bishop, Y; Clarke, Y; Crowley, Y; Engel, Y; Gillibrand, Y; Hall, Y; Higgins, Y; Hinchey, Y; Israel, Y; Lowey, Y; Maloney, Y; McCarthy, Y; McNulty, Y; Meeks, Y; Nadler, Y; Rangel, Y; Serrano, Y; Slaughter, Y; Towns, Y; Velazquez, Y; Weiner, Y.
Republicans — Fossella, N; King, Y; Kuhl, N; McHugh, Y; Reynolds, Y; Walsh, Y.
NORTH CAROLINA
Democrats — Butterfield, Y; Etheridge, Y; McIntyre, Y; Miller, Y; Price, Y; Shuler, Y; Watt, Y.
Republicans — Coble, N; Foxx, N; Hayes, Y; Jones, N; McHenry, N; Myrick, N.
NORTH DAKOTA
Democrats — Pomeroy, Y.
OHIO
Democrats — Jones, Y; Kaptur, N; Kucinich, Y; Ryan, Y; Space, Y; Sutton, Y; Wilson, Y.
Republicans — Boehner, N; Chabot, N; Hobson, Y; Jordan, N; LaTourette, Y; Latta, N; Pryce, Y; Regula, N; Schmidt, N; Tiberi, Y; Turner, Y.
OKLAHOMA
Democrats — Boren, Y.
Republicans — Cole, N; Fallin, N; Lucas, N; Sullivan, N.
OREGON
Democrats — Blumenauer, Y; DeFazio, N; Hooley, Y; Wu, Y.
Republicans — Walden, N.
PENNSYLVANIA
Democrats — Altmire, Y; Brady, Y; Carney, Y; Doyle, Y; Fattah, Y; Holden, Y; Kanjorski, Y; Murphy, Patrick, Y; Murtha, Y; Schwartz, Y; Sestak, Y.
Republicans — Dent, N; English, Y; Gerlach, N; Murphy, Tim, Y; Peterson, X; Pitts, N; Platts, N; Shuster, N.
RHODE ISLAND
Democrats — Kennedy, Y; Langevin, Y.
SOUTH CAROLINA
Democrats — Clyburn, Y; Spratt, Y.
Republicans — Barrett, N; Brown, Y; Inglis, N; Wilson, N.
SOUTH DAKOTA
Democrats — Herseth Sandlin, Y.
TENNESSEE
Democrats — Cohen, Y; Cooper, Y; Davis, Lincoln, Y; Gordon, Y; Tanner, Y.
Republicans — Blackburn, N; Davis, David, N; Duncan, N; Wamp, N.
TEXAS
Democrats — Cuellar, Y; Doggett, Y; Edwards, Y; Gonzalez, Y; Green, Al, Y; Green, Gene, X; Hinojosa, Y; Jackson-Lee, Y; Johnson, E. B., Y; Lampson, Y; Ortiz, X; Reyes, Y; Rodriguez, Y.
Republicans — Barton, N; Brady, N; Burgess, N; Carter, N; Conaway, N; Culberson, N; Gohmert, X; Granger, N; Hall, N; Hensarling, N; Johnson, Sam, N; Marchant, N; McCaul, N; Neugebauer, N; Paul, N; Poe, N; Sessions, N; Smith, N; Thornberry, N.
UTAH
Democrats — Matheson, Y.
Republicans — Bishop, X; Cannon, N.
VERMONT
Democrats — Welch, Y.
VIRGINIA
Democrats — Boucher, Y; Moran, Y; Scott, Y.
Republicans — Cantor, N; Davis, Tom, N; Drake, N; Forbes, N; Goode, N; Goodlatte, N; Wittman, N; Wolf, N.
WASHINGTON
Democrats — Baird, Y; Dicks, Y; Inslee, Y; Larsen, Y; McDermott, Y; Smith, Y.
Republicans — Hastings, N; McMorris Rodgers, N; Reichert, N.
WEST VIRGINIA
Democrats — Mollohan, Y; Rahall, Y.
Republicans — Capito, Y.
WISCONSIN
Democrats — Baldwin, Y; Kagen, Y; Kind, Y; Moore, Y; Obey, Y.
Republicans — Petri, N; Ryan, N; Sensenbrenner, N.
WYOMING
Republicans — Cubin, N.
.
Wild Thing's comment...........
I wish he had held onto his veto threat! This sure is some way to build a nation of self reliant citizens, isn’t it? What a bunch of crappola.
They don’t care how much of our money they have to spend to bail out the people who foolishly bought more house than they could afford and speculators who bought houses in hopes of making a quick buck but are now stuck with them.
Our beloved country has decided to fold up shop. This country has withstood a lot over 2 plus centuries. This however I fear will come back to hunt us. This is not just a step in the wrong direction it is a giant leap off from a cliff!
God help us all
I have to say this..........Not only has Bush redefined and dumbed down conservatism, he is about to redefine and dumb down capitalism as well.
Those who voted yes must go. Out the bad in with the new.
We The People are no longer considered the sovereigns of this nation, by the Congress sitting atop ‘the hill’. We have become their subjects and unless we throw the bastards out of office and require our elected representatives hereafter to abide our goals and values, we will in fact be merely subjects.
Posted by Wild Thing at July 30, 2008 12:55 PM
Comments
Yes, this is a giant step to socialism. We taxpayers just bailed out a lot of bad and crooked businesses and a lot of irresponsible home buyers. Like all socialistic programs, there is no turning this one back. It will only get added to over the years. Especially by liberal controlled Congresses.
I don't know if I will see a conservative congress or president again in my lifetime. At least for a while we had Reagan and for a while we had a conservative congress that helped hold Clinton in check. That has been squandered and the future looks dim.
Posted by: TomR at July 30, 2008 01:24 PM
And now congress is going to limit how much some CEO can earn, because now congress will oversee the salaries paid to these top executives. A maximum wage bill this is just dandy, now the government is telling companies how much they can pay somebody.
Capitalism is now officially on life support.
We had better wake up fast, like this November.
Posted by: Mark at July 30, 2008 03:12 PM
With government control of the home and the homeowner the sanctity of the home goes by the wayside, look no further than the big city housing projects for examples of the loss of Constitutional guarantees when ever big brother steps in. Adios America, Jorge's NWO is here.
Amendment I Twisted and abused by the ACLU and the SCOTUS.
Amendment II The safeguard of all the remaining Bill of Rights, constantly under attack by the Communists.
Amendment IV - Usurped by government intervention in public housing, Usurped by the War on Drugs.
Amendment XIV Bastardized by a bastard Obama, where is his birth certificate?
Amendment XV & Amendment XXIV Two states are disenfranchised during the primary elections and entire blocks of the military are consistantly disenfranchised during the general elections.
Both the Senate and the House are active in their sedition and constant violations of the Logan Act, we expect the world to respect our nation and the presidency but by example the houses of Congress disrespect both the nation and the office of the presidency by their conduct and by the example they set.
Posted by: Jack at July 30, 2008 04:41 PM
Tom, I am very thankful that we had Reagan for President. We have been so blessed in so many ways.
I pray Americans realize soon how all these things are destructive to what Anmerica has been and meant and stood for.
Posted by: Wild Thing at July 30, 2008 06:31 PM
Mark,"Capitalism is now officially on life support" that is exactly what it is now, and scary to see this happening.
Posted by: Wild Thing at July 30, 2008 06:36 PM
Jack, well said......
" we expect the world to respect our nation and the presidency but by example the houses of Congress disrespect both the nation and the office of the presidency by their conduct and by the example they set."
deep troubling sigh
Posted by: Wild Thing at July 30, 2008 06:39 PM
Don't these boneheads know to call their mortgage lenders to help fix the problem? That's what I did when I was having difficulties being out of work for so long and it's working for me.
I don't need a government handout.
It's too bad that they didn't listen well enough to the lenders--they just wanted the house. You can't have a $350,000 home right off the bat! You have to work up to it. You can't jump in and keep up with the Joneses right away. I love my little red brick house and I'll do what it takes to keep it. This should have never gone through. I'm sorry that so many are losing their homes, but if you work with your lender, they'll work with you.
Posted by: Lynn at July 30, 2008 07:30 PM
Lynn, I agree so much. Thanks for your input on this, it really is exactly how you said.
Posted by: Wild Thing at July 30, 2008 11:21 PM
THE US of USSR is the biggest co-signer of socialism, eh? WT, I want a Lexus, and even though I can't afford one, how about if I buy one anyway and then W will bail me out for my greed and stupidity? I'd also like a Charleston SC beach house too, along with season tickets to the NY Giants games...Come on Team Theodore, simply CO-SIGN!!! It's the American Way?
Posted by: darthcrUSAderworldtour07 at July 31, 2008 05:18 AM
