In other economic news, a top housing official has indicated President Bush will veto a plan by Democrats to help homeowners refinance their loans and stay in their homes. Deputy Secretary of Housing and Urban Development Roy Bernardi described the Democrats $15 billion housing rescue package as “a costly bailout for lenders and speculators.” Bernardi’s comments came just over a month after the Treasury Department helped orchestrate the bailout of investment bank Bear Stearns. As part of the deal, the Federal Reserve agreed to lend JPMorgan $30 billion to secure some of Bear Stearns’s mortgage investments.