Was President Bush’s announcement that he is seeking to reform the FHA to assist strapped homeowners a bailout or an exercise in politics?
Our friend Barry Ritholtz says it seems like a political move before the holiday weekend.
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Speaking seriously, was anyone really thinking it was anything *but* politics?
Bush has been playing the “compassionate conservative” card because he knows that the majority of American voters want a nanny state. The GOP is in serious trouble, because Democrats are promising every social program under the sun, and the GOP is looking cold-hearted. But as the NYC GOP has found, there’s a fatal flaw with Republicans trying to win voters’ hearts by governing like Democrats: voters realize that they might as well just elect Democrats.