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Bush drops opposition to housing bill (AP)

<p>AP - Congress is moving quickly to pass a housing package that aims to help 400,000 strapped homeowners avoid foreclosures and prevent Fannie Mae and Freddie Mac from collapsing.




GM global auto sales skid 5.0 percent (AFP)

AFP - General Motors on Wednesday posted a five percent drop in global sales in the second quarter as a sharp drop in its home market offset strong gains overseas.




White House says Bush will sign housing bill (Reuters)

Reuters - President George W. Bush on Wednesday dropped a threat to veto a housing rescue bill, clearing the way for measures meant to shore up the worst U.S. home market since the Great Depression.




Congress May Vote Today on Fannie-Freddie Rescue Plan (Bloomberg)

Bloomberg - July 23 (Bloomberg) -- The U.S. Congress may vote today on a rescue plan for Fannie Mae and Freddie Mac after lawmakers reached a deal on legislation aimed at alleviating the worst housing recession in a quarter century.

"Wall Street got drunk": Bush at private event (Reuters)

Reuters - President George W. Bush has an explanation for the housing market meltdown that has thrown the global economy into turmoil: Wall Street got drunk.

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