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The rejection of the bail-out plan represents a profound domestic defeat for George Bush GEORGE BUSH’S speech to the country on Tuesday September 30th had a quality of exhaustion about it. It proposed no new ideas or initiatives, promising merely to make another attempt to reach a deal with the House of Representatives, which the evening before had rejected the proposed $700 billion financial-rescue package. This was the seventh consecutive day on which he had pleaded in public for the bill’s passage. The effort is not over, he explained: “I assure our citizens and citizens around the world that this...

WASHINGTON—House Financial Services Committee Ranking Member Barney Frank (D-MA) and Rep. Bernie Sanders (I-VT), the Ranking Member of the Financial Institutions and Consumer Credit Subcommittee today called for a hearing into proposed changes to Community Reinvestment Act (CRA) regulations. The Federal Deposit Insurance Corporation (FDIC) Tuesday announced its proposed rulemaking that would allow institutions with up to $500 million in assets, instead of $250 million according to current rules, to face less stringent CRA requirements. The proposed rule would also let institutions exclude lending activities of certain affiliates from CRA examinations and create a vague and weak anti-predatory lending standard....

Washington, DC- Congressman Barney Frank today made the following statement after reading press reports of Federal Reserve Bank of St. Louis President William Poole on the Government Sponsored Enterprises (GSE): "I am disappointed to read press reports of Mr. Poole's comments questioning the very existence of the GSEs. It is clear from his comments today that there is a lack of understanding of the importance of the GSEs to affordable housing and mortgage markets. I hope we can work together to strengthen and reform the GSEs so that their core mission is not compromised, and we can ensure that affordable...

The Honorable George W. Bush Presidenot f the United States The White House Washington,D C 20050 Dear Mr. President: We urge you to reconsider your Administration's criticisms of the housing-related government sponsored enterprises (the "GSEs") and instead work with Congress to strengthen the mission and oversight of the GSEs. We write as members of the House of Representatives who continually press the GSEs to do more in affordable housing. Until recently, we have been disappointed that the Administration has not been more supportive of our efforts to press the GSEs to do more. We have been concerned that the Administration's...

The Barack Obama campaign has a new Spanish-language ad that features racial demagoguery and a distortion of Rush Limbaugh quotes... The Obama campaign misquoted Rush by omitting the context; the context certainly doesn't show Rush in a good light, but it's far different from what the Obama campaign is trying to do: pretend that Rush said that all Mexicans are "stupid and unqualified". The BHO campaign is lying. The second quote is just as bad; it was actually from a satire in which Rush proposed a series of draconian immigration laws, only to reveal at the end that those were...

PBS Online Poll...Palin is getting hammered http://www.pbs.org/now/polls/poll-435.html BS