GOP Source: Housing Bailout Still Likely

Top Republican gives it a good chance of passage.

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"It's like an 80 percent deal," is how one high-ranking Republican member of Congress, in a chat with me, assessed the odds of the Dodd-Frank housing bailout legislation successfully making it through Congress. Nor did this conservative GOP-er hold out much hope for a veto by President Bush, noting that the White House is cooking up its own version of a plan that would have the government buy the mortgages of struggling homeowners and refinance them at a lower principal amount.

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government intervention

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