Bush Ready to Join the Bailout Bunch

White House seems prepared to go along with mortgage legislation from Congress.

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As I have been predicting, it looks more and more as if President Bush will agree to some sort of bailout for struggling homeowners based on the Dodd-Frank bill. Further evidence today from American Banker:

Sen. [Richard] Shelby [ranking Republican on the Senate Banking Committee] said he expected the White House would support the final agreement. The White House had vowed to veto the House version of the bill, arguing it was a bailout that put taxpayer money at risk. "We've been working with the White House...on some principles that [President Bush] will agree to," Sen. Shelby said.

My take: In a U.S. News interview this morning, the senator basically said the deal is a go in the Senate and will be signed by Bush.