2008-05-01marketwatch.com

The House Financial Services Committee voted to approve a bill to aid strapped homeowners on Thursday, sending the measure to the full House for approval. The bill, pushed by panel chairman Barney Frank, D-Mass., and other Democrats, would allow the Federal Housing Administration to back as much as $300 billion in refinanced loans for homeowners facing foreclosure.

There's another $300B the Fed will eventually have to print.


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