White House Rescinds Threat To Veto Housing Bill

Law360, New York (July 23, 2008, 12:00 AM EDT) -- President Bush said on Wednesday that he would drop his threat to veto a housing bill that would temper the effects of the ongoing mortgage crisis and help borrowers finance their loans and stay in their homes.

The White House said it had set aside its objections to the bill on the advice of Henry M. Paulson Jr., the Secretary of the Treasury, who contended that the package was needed to stabilize housing and credit markets.

White House Press Secretary Dana Perino announced the change of...
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