Bush Will Veto Dems' Housing Bill

$15B measure would 'reward speculators and lenders': President
By Sam Gale Rosen,  Newser Staff
Posted May 7, 2008 2:27 PM CDT
President Bush makes a statement, Wednesday, May 7, 2008, after he met with the House Republican Conference in the East Room, of the White House.   (AP Photo/Ron Edmonds)
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(Newser) – President Bush said today that he would veto the Democratic housing bill being worked on in the House of Representatives. Bush claims the bill would unfairly bail out "speculators and lenders," the Washington Post reports. "I will veto the bill that's moving through the House today if it makes it to my desk," he promised.

"I urge members on both sides of the aisle to focus on a good piece of legislation that is being sponsored by Republican members," Bush said after meeting with congressional GOP leaders. Rep. Barney Frank and Sen. Chris Dodd, both Democrats, have been taking the lead on pushing the current plan through Congress.