Analysis: GOP chose base, not Bush in housing vote

In this April 22, 2008 file photo, a bank-owned home is seen offered for sale in Moreno Valley, Calif.. Rescue legislation sailed through the House Wednesday, July 23, 2008, aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing. WASHINGTON -- President Bush pulled the rug out from under Republicans this week when he abruptly dropped his opposition to a massive housing rescue. Their reaction? Good riddance. Three-quarters of House Republicans defied Bush and voted against the package, designed to help 400,000 homeowners stave off foreclosure and inject a dose of stability into jittery housing and financial markets. The split reflected an every-man-for-himself mentality that has taken hold in GOP circles in a challenging political... [read full story]