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Article: Business Briefing.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- May 21, 2008
CopyrightCOPYRIGHT 2008 Rocky Mountain News. All rights reserved. Reproduced with the permission of Thomson Scientific by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rocky staff and wire reports
NATIONAL
Senate committee OKs homeowner rescue proposal
Democrats and Republicans banded together Tuesday to push a homeowner rescue plan through a key Senate committee, boosting the chances for a broad election year housing aid package.
The vote was 19 2 in the Senate Banking Committee to approve the plan, which would give cheaper, government backed mortgages to up to 500,000 strapped borrowers.
Eight Republicans joined the panel's Democrats to back the measure.
The bill also tightens regulation of government sponsored mortgage giants Fannie Mae and Freddie Mac, which would ...