Independent Senator Joe Lieberman says he supports the Bush Administrations' bail-out of two major mortgage companies.
Lieberman says he thinks the companies are not in danger of collapsing, but he calls the administration's support for Fannie Mae and Freddie Mac "a good move." He says it will make sure that panic doesn't take hold, and allow homeowners to refinance their homes at a lower interest rate.
President Bush has yet to sign a housing bill sponsored by fellow Senator Chris Dodd that passed in the senate on Friday.
Lieberman says he hopes President Bush will make an agreement with Dodd -- the Senate Banking Committee Chairman -- and others who support the Housing Rescue Proposal.
"We're not going to get this economy going again unless we get the housing market stabilized and hopefully growing before too long. If there was ever a moment to get together across party lines, congress, president, this is it, to strengthen America's housing market, and to bring some help to millions of American homeowners who are hurting right now."
Despite the support for Dodd's Housing Legislation, Lieberman says he would not endorse Dodd as the Democratic Vice presidential nominee.
Lieberman has thrown his support behind Republican Arizona Senator John McCain. It's the first time since 1976 that Lieberman will not be attending the Democratic National Convention.