Stories related to: Barney Frank

The House today shrugged off a veto threat from President Bush and passed a wide-ranging rescue plan for US homeowners, Reuters reports. The centerpiece of the legislation would allow people to trade in risky, fast-rising mortgages for more stable government loans. The $300 billion measure would help an estimated 500,000 homeowners at risk of foreclosure. More »

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. More »

Lawmakers have backed a $15 billion aid package for municipalities so they can buy and fix up foreclosed homes, the Wall Street Journal reports. A House panel voted 38-26 for the measure, which would be split evenly between loans and grants. States could use the money to get vacated homes in shape and filled quickly. It's part of a larger relief measure making its way through the House. More »

Out magazine's Gay Power 50 boasts plenty of people with plenty of influence over politics and pop culture: David Geffen: Look at the headlines this Hollywood bigwig sparked when he endorsed Barack Obama for proof of his broad influence. Anderson Cooper: Turn on CNN. Enough said. Ellen DeGeneres: Her daily audience is 2.4 million. More »

Democratic Rep. Barney Frank has become an unlikely power player in Washington’s “new economic trio” with Ben Bernanke and Henry Paulson, writes David Rogers in Politico. His pet plan—a “humongous housing deal” to steady an ailing market—might be a tough sell to the White House, but it’s “moving in our direction,” says the head of the House Financial Services Committee. More »

Nancy Pelosi acted to have a gay Congresswoman's domestic partner included on a military flight to Europe, and the question of government acknowledgment of same-sex partners continues to reverberate, the Politico reports. Tammy Baldwin’s partner took the March fact-finding trip, but Pelosi and Robert Gates are at odds over whether the waiver means the Defense Department or the House granted an exception. More »

Ex-Fed chief Alan Greenspan and other high-profile economic bigwigs should take the lead in deciding whether the government should buy homes affected by the housing crisis, Hillary Clinton says. "As it has in the past, this kind of temporary measure by the government could give our economy the boost it needs and families the help they need," the candidate said today in Philadelphia. More »

Rep. Barney Frank will move to legalize “small amounts” of marijuana, Politico reports, citing Americans who think use of the drug is no big deal. “It's time for the politicians to catch up to the public,” said the Massachusetts Democrat on "Real Time with Bill Maher." But it’ll be tough for him to get a vote on such legislation, the Crypt notes. More »

Seeking to avoid another subprime meltown, the Federal Reserve cracked down on mortgage lending today by a unanimous 5-0 vote, the Wall Street Journal reports. If approved next year, the Fed proposals will require creditors to consider borrowers' financial and credit status, but will not prohibit prepayment penalties altogether, a move sought by some consumer groups. More »

Senators John McCain and Norm Coleman joined two Republican congressmen in urging GOP Sen. Larry Craig to resign today, the AP reports, after Craig was moved out of top committee posts by party leadership. The White House, too, said it was “disappointed" with the Idaho lawmaker after the revelations of his arrest by undercover police in an airport men's room. More »