President Bush has dropped his threat to veto the massive Housing Rescue Plan, and it will likely be passed into law in the coming days. As a result, many financially irresponsible homeowners will be given more affordable mortgages and will not learn the lessons that will make the immediate and long-term future of our housing market more solid.

That’s not all. The government will provide what amounts to a massive bail out for Fannie Mae and Freddie Mac. Even worse, the government will have the option of …..click here to read more