Busy News Day: Bush & Bernanke Both Talk Housing

It's been a busy news day already as President Bush outlined his initial plans to for the government to aid in softening the mortgage and housing disaster.  You can read more about it here, here, and here. From Bush's speech this morning: On Friday, Bush said he planned to: Urge Congress to pass legislation that would give the Federal Housing Administration more flexibility in assisting mortgage holders with subprime mortgages. Pledge to work with Congress to reform the tax code to help troubled borrowers rework their loans. Call for rigorously enforcing predatory lending laws and strengthening lending practices. And Bernanke said that the Fed is ready to "act as needed" as needed to ensure the credit meltdown doesn't derail the greater economy:  The Fed "continues to monitor