Bush Officially Announces Plan To Freeze Interest Rates
AP:
President Bush announced on Thursday a plan to freeze interest rates for five years for hundreds of thousands of strapped homeowners whose mortgages are scheduled to rise in the coming months.
"The steps I outlined today are a sensible response to a serious challenge," Bush said.
Seeking to counter criticism he is violating his free-market principles, Bush said the private-sector plan does not represent the imposition of a government solution to the mortgage crisis.







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First Posted: 12- 6-07 01:45 PM | Updated: 03-28-08 02:45 AM