MS. PERINO: Well, I would say that President Bush recognized the need for this legislation early on, and the call for GSE legislation reforms was made in 2003, the first time it was actually asked for in legislation. So we've waited several years. But then, increasingly, last summer, August 31st, the President said we absolutely need this legislation to help us deal with the housing downturn, the deal with the instability that has been in the marketplace for this past year. So we think that this is important for the overall health of the market. It's not just to help homeowners but to help low-income homeowners, in particular, when it comes to those housing GSEs.
But we also think it will have a positive impact on the overall economy, and that's why the President has decided to sign the bill.
seen at 09:00, 23 July
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