Home
Mortgage bill may face presidential veto
Karachi News.Net
Friday 9th May, 2008
The US House of Representatives has approved a bill designed to stem the tide of home foreclosures due to the subprime mortgage crisis.
The Democratic-controlled chamber passed by a vote of 266 to 154 the bill which would create a 300-billion-dollar federal guarantee for new mortgages for people who may be at risk of losing their homes.
But the bill now faces a presidential veto with
some Republicans arguing that the bail-out approach would harm the US economy by forcing responsible homeowners and taxpayers to pick up a 300-billion-dollar tab to bail out 'scam artists, speculators and reckless borrowers.'
President George W. Bush said on Wednesday he intended to veto the measure.
 Email this story to a friend
Have your say on this story
|
 |
 |
- India repatriates Pakistan fishermen
Wagah, May 17 : India on Saturday released 14 Pakistani fishermen, who were caught straying into Indian waters last year. [read story]
- 14 Pakistani fishermen freed by India reach Karachi
Islamabad, May 17 (IANS) Fourteen Pakistani fishermen released from Indian jails in a 'goodwill gesture' reached Karachi Saturday where they were received by a team of the Fishermen's Cooperative Society (FCS). [read story]
- Abducted Pak envoy to Afghanistan freed
Islamabad, May 17 : Tariq Azizzudin, Pakistan's envoy to Afghanistan, who was kidnapped by Afghan militants on February 11 was on Saturday reported to have been released by his captors. [read story]
- Pak has no control over two airstrips in its tribal areas meant for exclusive US use
Washington, May 17 : Belying Pakistan's claims that it won't allow any foreign troops to operate from its soil, it has been learnt that two airstrips - one near Wana and the other near Nokundi (both tribal areas bordering Afghanistan), are for the exclusive use of the US for security operations in Afghanistan and the Tribal Areas, and that they were not under the direct control of either Pakistan's Civil Aviation Authority (CAA), or the Pakistan Air Force. [read story]
- US offer financial assistance for Pak judicial reforms
Islamabad, May 17 : US ambassador in Islamabad, Anne Patterson has reportedly said that Washington was ready to extend financial assistance to Pakistan government for the implementation of its judicial reforms, including setting up of new night courts. [read story]
|
|
 |
 |
|
|
