Thinkprogress:
This weekend, the Federal Reserve extended a $30 billion credit line to finance the takeover of near-bankrupt Bear Stearns by fellow Wall Street firm JPMorgan Chase.
During today’s news briefing, reporters questioned White House Press Secretary Dana Perino on the Fed’s actions, noting that the White House has repeatedly refused to extend similar assistance to homeowners facing foreclosure. Perino replied that help to homeowners — a “boost of liquidity” — would come “in the form of a stimulus package and a tax rebate.”
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