Administration Strongly Opposes Reid Foreclosure Relief Bill

摘要

The Bush Administration has expressed strong opposition to a comprehensive mortgage foreclosure relief bill (S. 2636) introduced by Senate Majority Leader Harry Reid (D-Nev.), calling many of its provisions "unnecessary, costly, and counterproductive." Reid's legislation would address the foreclosure crisis with a combination of direct federal funding, bankruptcy law changes, expanded bond financing, and strengthened disclosure requirements.