Gingrich's dishonest claim about Dodd-Frank debunked! LMAO!

Dodd and Frank the two that prevented 3 attempts under Bush to regulate the Housing market. Frank was on National TV just a month or two before the collapse INSISTING that not only was the Housing market sound it was safe and the only danger to it was more regulation.

More rightwing bullshit you've culled from your dumbass pundits.

You are the ignorant one. Are you claiming that Bush did not try twice to regulate the Housing market? That McCain did not try once to Regulate the Housing Market? That Frank lead the resistance in the House and Dodd in the Senate? That they succeeded all three times killing the bills?

Are you denying that Frank was on National TV just before the bubble broke claiming the Housing market was safe and sound and was only endangered by more regulations?

Be specific.

Actually Retired, you are partially right and partially wrong.

From Factcheck.org

It’s true that key Democrats opposed the Federal Housing Enterprise Regulatory Reform Act of 2005, which would have established a single, independent regulatory body with jurisdiction over Fannie and Freddie – a move that the Government Accountability Office had recommended in a 2004 report. Current House Banking Committee chairman Rep. Barney Frank of Massachusetts opposed legislation to reorganize oversight in 2000 (when Clinton was still president), 2003 and 2004, saying of the 2000 legislation that concern about Fannie and Freddie was "overblown." Just last summer, Senate Banking Committee chairman Chris Dodd called a Bush proposal for an independent agency to regulate the two entities "ill-advised."

But saying that Democrats killed the 2005 bill "while Mr. Obama was notably silent" oversimplifies things considerably. The bill made it out of committee in the Senate but was never brought up for consideration. At that time, Republicans had a majority in the Senate and controlled the agenda. Democrats never got the chance to vote against it or to mount a filibuster to block it.
By the time McCain signed on to the legislation, it was too late to prevent the crisis anyway. McCain added his name on May 25, 2006, when the housing bubble had already nearly peaked. Standard & Poor’s Case-Schiller Home Price Index, which measures residential housing prices in 20 metropolitan regions and then constructs a composite index for the entire United States, shows that housing prices began falling in July 2006, barely two months later.
FactCheck.org : Who Caused the Economic Crisis?
 
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Dodd/Frank is constantly being brought out as some sort of boogey man that is the center of all economic ills. I saw a cspan round table about the economy and seated on it was one republican senator who seemed, for the most part, to be pretty knowledgable. He brought up Dodd/Frank and it was very quickly swatted away. The guy didn't even bother to defend his point. But it was almost a reflex that he brought it up.

You know that Chris Dodd was the guy who pre-crash stuck a midnight provision into a bill giving Insurance companies a government guarantee, right?

If you're wondering why AIG got bailed out, ask Dodd
And you notice the Son-Of-A-Bitch didn't have the balls to run again. He knew what was going on.
 

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