Then meet the U.S. regulatory giant "two rooms" Legislative final sprint.

<P> Vote in both houses of Congress has released last week after the United States to save the "two rooms" in the case of housing assistance in the final sprint stage this week. .Latest news, local time, 29, from the Fed, the Treasury, the Federal Deposit Insurance Corporation (FDIC) and the Congress leaders will Qiju Guo Club Hill, to quickly adopt and implement legislation to do final preparations for housing assistance. .</ P> <P> submitted to the White House on Monday, the fastest </ P> <P> on Saturday, the U.S. Senate rare, "overtime" to deal with the U.S. through the decades, the property market in the most serious housing crisis bill vote results .an overwhelming 72 to 13, more than 272 pairs of 152 before the House vote is more convincing. .In accordance with the legislative process, now only to the President for signature into effect. .<P> U.S. Senate Democratic leader Harry Reid said after the vote that he expected the bill will be sent to the White House on Monday. .Before the Bush administration has announced that, although the revised certain provisions in the bill had reservations, but the White House is willing to sign the bill. .28 <P> Bloomberg reported that the U.S. Senate Banking Committee Chairman Dodd has called banking and housing regulators leadership convention was held 29 meetings on Capitol Hill to accelerate the implementation of the new Housing Act. .<P> Dodd said he had heard that the Department of Housing and Urban Development (HUD) officials said, according to the bill for nearly 400,000 new households to provide mortgage loan assistance, to implement the earliest year for .This he was "deeply disappointed." .<P> "We introduced this legislation, is to bypass the cumbersome decision-making process in the past." Dodd, a new bill in the Senate, said at a press conference. .He disclosed that he sits in 29th on Capitol Hill, meeting with HUD, the Federal Reserve, FDIC, and the head of the Ministry of Finance, "Let them explain why they can not immediately begin to implement the new Act." .Household mortgage debt restructuring <P> <P> to industry analysts said the White House and Congress reached a compromise property aid cases, can be divided into two: First aid troubled "two rooms", the second is to help the number of .one hundred thousand can not afford loans for mortgage customers face losing their homes. .<P> Assistance provided under the new bill, those who can not pay the monthly mortgage buyers will be able to more easily turn to repay the government-backed loans rather than losing their homes. .New law will also require the Federal Housing Administration (FHA) launched a program that will provide mortgage refinancing guarantee 300 billion U.S. dollars, mainly aimed at 400,000 applications for the 30-year fixed-rate mortgage share .Rooms are so they can refinance loans to avoid eventual default. .<P> In addition, the House bill also included Democratic members of the homeowners avoid the loss of a proposed mortgage foreclosure motion, plans to allocate 4.0 billion, to allow local governments to purchase and repair of real estate foreclosures. .<P> The plan also includes 150 billion in tax breaks, including for the first time home buyers with the highest $ 7,500 interest-free loan. .State Government can further issue worth 11 billion U.S. dollars of mortgage revenue bonds to refinance subprime. .<P> Response, some critics pointed out that a comprehensive rescue plan is tantamount to that irresponsible owners and mortgage institutions, "fish in troubled waters" to obtain benefits. .White House takes a similar view, but eventually made a compromise. .<P>, Of course, the most interesting new property bill or a "two-room" relief provisions. .New bill would allow the government unlimited acquisition of necessary "two rooms" of the shares, while the Ministry of Finance can raise the "two rooms" current 2.25 billion line of credit. .<P> Even promising to become law, but the White House initiative to salvage the "two room" of the plan is still controversial. .Nobel laureate in economics Joseph Stiglitz on U.S. assistance to open the "two room" question, saying such a move could risk "social." .Recently, the British "Financial Times" when the author, Stiglitz believes that even if Fannie Mae and Freddie Mac and other institutions like the Government as "too big to fail", they will not have too big to be reorganized. .<P> "There is no free lunch. The financial markets of those institutions have enjoyed a sumptuous feast, and the government now requires taxpayers to pay part of costs. We should be simply to say 'no'." Stiglitz .Stiglitz said. .</ P>.