U.S. Congress sends housing relief bill to Bush

Putin's comments drive a company's stock down The measure now goes to President George W. Bush, who has said he will sign it, perhaps early this week, to send a reassuring message to the credit markets. The White House quickly issued a statement praising the vote, but also affirming opposition to nearly $4 billion in grants to local governments to buy and refurbish foreclosed properties, which Bush views as a giveaway to lenders. "It's good that the Democratic Congress has finally acted," said Tony Fratto, the deputy White House press secretary. Lawmakers in both parties hailed the bill, saying it was crucially needed. "It will make a difference not only in the housing market but in the entire economy," the majority leader, Senator Harry Reid of Nevada, said. Senator Christopher Dodd, Democrat of Connecticut and the chairman... [read full story]