Administration’s Mortgage Fix Is Criticized

Democratic lawmakers call the plan insufficient.


Right on cue, Democratic lawmakers are sharply criticizing the Bush administration's plan—announced Wednesday—to expand help to about 100,000 mortgage holders. Democrats say the plan does not go far enough, and they are continuing their efforts toward devising a large-scale, taxpayer-funded housing bailout.

"I have serious questions as to how a substantial number of more homeowners could be helped through [the Federal Housing Administration] without an infusion of government funds," Rep. Carolyn Maloney of New York, a senior Democrat on the Financial Services Committee, told the Wall Street Journal.

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