As housing situation worsens, pressure grows for federal rescue

03/18/2008 | Reuters · Bloomberg

Although President George W. Bush has opposed using taxpayer dollars to rescue the housing market, the idea is gaining traction as the market's deterioration threatens the broader economy. Sen. Christopher Dodd, D-Conn., said the near collapse of Bear Stearns has put pressure on the White House and Treasury to develop a federal backstop for the ailing housing market.

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