Just so people don't forget ...

[Leweman]

the Bush Administration tried to stop the economy from spiraling into the shit storm its become.

Check it out. From 2003

New Agency Proposed to Oversee Freddie Mac and Fannie Mae - NYTimes.com

"Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing. "

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

"Representative Melvin L. Watt, Democrat of North Carolina, agreed"


well how bout that?

 

[AllieBaba]

good luck. I spent months pointing this out when the left was howling incoherently about the criminality of Bush and how FM & FM was all a Republican boondoggle. They just ignore it and continue to spew lies.

 

[uscitizen]

Lots of stupidity and greed on all fornts contributed to the mess we are now in.

 

[uscitizen]

Umm one thought, who (ie which party) controlled congress in 2003?
And did this even make to a vote or bill submission status?

 

[CrusaderFrank]

Bush should have have Chris Dodd and Barney Frank locked up as economic traitors

 

[uscitizen]

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Wayne Allard (R-Colo)

Evan Bayh (D-Ind)

Robert F Bennett (R-Utah)

Jim Bunning (R-Ky)

Tom Carper (D-Del)

Lincoln D Chafee (R-RI)

Jon S Corzine (D-NJ)

Mike Crapo (R-Idaho)

Chris Dodd (D-Conn)

Elizabeth Dole (R-NC)

Mike Enzi (R-Wyo)

Chuck Hagel (R-Neb)

Tim Johnson (D-SD)

Zell Miller (D-Ga)

Jack Reed (D-RI)

Rick Santorum (R-Pa)

Paul S Sarbanes (D-Md)

Charles E Schumer (D-NY)

Richard C Shelby (R-Ala)

Deborah Ann Stabenow (D-Mich)

John E Sununu (R-NH)

comittee members

Killed in a bipartisan manner?

 

[CrusaderFrank]

Chirs Dodd and Barney Frank did more damage to our economy that Al Qaeda ever could. Bin Laden tried to shut down the US Capital markets by destroying the Twin Towers, the Democrats cratered the entire US housing market

 

[uscitizen]

Bwarney was not even on the comittee that killed the reform.
Dodd was though and Dole, etc.

 

[Leweman]

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Wayne Allard (R-Colo)

Evan Bayh (D-Ind)

Robert F Bennett (R-Utah)

Jim Bunning (R-Ky)

Tom Carper (D-Del)

Lincoln D Chafee (R-RI)

Jon S Corzine (D-NJ)

Mike Crapo (R-Idaho)

Chris Dodd (D-Conn)

Elizabeth Dole (R-NC)

Mike Enzi (R-Wyo)

Chuck Hagel (R-Neb)

Tim Johnson (D-SD)

Zell Miller (D-Ga)

Jack Reed (D-RI)

Rick Santorum (R-Pa)

Paul S Sarbanes (D-Md)

Charles E Schumer (D-NY)

Richard C Shelby (R-Ala)

Deborah Ann Stabenow (D-Mich)

John E Sununu (R-NH)

comittee members

Killed in a bipartisan manner?

Excellent point!!! couldn't agree with you more! It's both some republicans and some democrats faults. But NOT the Bush admins fault.

 

[The Infidel]

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Wayne Allard (R-Colo)

Evan Bayh (D-Ind)

Robert F Bennett (R-Utah)

Jim Bunning (R-Ky)

Tom Carper (D-Del)

Lincoln D Chafee (R-RI)

Jon S Corzine (D-NJ)

Mike Crapo (R-Idaho)

Chris Dodd (D-Conn)

Elizabeth Dole (R-NC)

Mike Enzi (R-Wyo)

Chuck Hagel (R-Neb)

Tim Johnson (D-SD)

Zell Miller (D-Ga)

Jack Reed (D-RI)

Rick Santorum (R-Pa)

Paul S Sarbanes (D-Md)

Charles E Schumer (D-NY)

Richard C Shelby (R-Ala)

Deborah Ann Stabenow (D-Mich)

John E Sununu (R-NH)

comittee members

Killed in a bipartisan manner?

Excellent point!!! couldn't agree with you more! It's both some republicans and some democrats faults. But NOT the Bush admins fault.

Bush certainly did his part though.... he didnt use that veto pen nearly enough.

Congress pushed the pedal to the metal in 2006 too... lets not forget that.

Demicans & republicrats all are to blame..... thats why November is so important.

We need leaders that are willing to do the right thing when it comes to spending.

That means lock the checkbook in a safe, and throw away the keys

 

[Procrustes Stretched]

the Bush Administration tried to stop the economy from spiraling into the shit storm its become.

Check it out. From 2003

New Agency Proposed to Oversee Freddie Mac and Fannie Mae - NYTimes.com

"Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing. "

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

"Representative Melvin L. Watt, Democrat of North Carolina, agreed"


well how bout that?

are you really this stupid? is this a talking point memo or email?


from your link:
After the hearing, Representative Michael G. Oxley, chairman of the Financial Services Committee, and Senator Richard Shelby, chairman of the Senate Banking Committee, announced their intention to draft legislation based on the administration's proposal.


what was left out:
In 2005, Frank, then the ranking Democrat on the House Financial Services Committee, worked with committee chairman Rep. Michael Oxley (R-OH) on the Federal Housing Finance Reform Act of 2005, which would have established the Federal Housing Finance Agency (FHFA) to replace the Office of Federal Housing Enterprise Oversight (OFHEO) as overseer of the activities of Fannie Mae and Freddie Mac. After voting for the bill in committee, Frank voted against final passage of the bill on the House floor, stating that he was doing so because an amendment to the bill on the House floor imposed restrictions on the kinds of nonprofit organizations that could receive funding under the bill.

http://mediamatters.org/research/200901080014

 

[Quantum Windbag]

Umm one thought, who (ie which party) controlled congress in 2003?
And did this even make to a vote or bill submission status?

Both parties had strong reasons to allow this mess to get worse rather than reign in the monster they created. That said, there were actually people on both sides trying to reign it in, and Clinton led the charge when he was in office, just like Bush did after him. Congress, which is always closer to the money, ignored all the advice and made it worse. Blaming any one party is stupid, though it is possible to find individuals who should get a share of the blame if you look.

 

[8537]

Chirs Dodd and Barney Frank did more damage to our economy that Al Qaeda ever could.

Chris Dodd and Barney Frank who, combined, didn't have enough power to prevent the Republicans from taking an unregistered bathroom break somehow prevented Republicans from passing legislation?

Do you people ever listen to how to stupid you sound?

 

[8537]

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Wayne Allard (R-Colo)

Evan Bayh (D-Ind)

Robert F Bennett (R-Utah)

Jim Bunning (R-Ky)

Tom Carper (D-Del)

Lincoln D Chafee (R-RI)

Jon S Corzine (D-NJ)

Mike Crapo (R-Idaho)

Chris Dodd (D-Conn)

Elizabeth Dole (R-NC)

Mike Enzi (R-Wyo)

Chuck Hagel (R-Neb)

Tim Johnson (D-SD)

Zell Miller (D-Ga)

Jack Reed (D-RI)

Rick Santorum (R-Pa)

Paul S Sarbanes (D-Md)

Charles E Schumer (D-NY)

Richard C Shelby (R-Ala)

Deborah Ann Stabenow (D-Mich)

John E Sununu (R-NH)

comittee members

Killed in a bipartisan manner?

Excellent point!!! couldn't agree with you more! It's both some republicans and some democrats faults. But NOT the Bush admins fault.

Is the Bush administration responsible for the Bush administration's decision to halve the net capital rule?

 

[Leweman]

Chirs Dodd and Barney Frank did more damage to our economy that Al Qaeda ever could.

Chris Dodd and Barney Frank who, combined, didn't have enough power to prevent the Republicans from taking an unregistered bathroom break somehow prevented Republicans from passing legislation?

Do you people ever listen to how to stupid you sound?

You must be mistaken ... Just today Barack Obama stated that Republicans were holding up economic legislation, yet the Democrat leads in the House and Senate are larger than they were back when Republicans where in control. Are you calling the President of the United States a straight up liar?

 

[uscitizen]

A Senate reform bill introduced by Senator John Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.[17]

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia, the free encyclopedia

Wayne Allard (R-Colo)

Evan Bayh (D-Ind)

Robert F Bennett (R-Utah)

Jim Bunning (R-Ky)

Tom Carper (D-Del)

Lincoln D Chafee (R-RI)

Jon S Corzine (D-NJ)

Mike Crapo (R-Idaho)

Chris Dodd (D-Conn)

Elizabeth Dole (R-NC)

Mike Enzi (R-Wyo)

Chuck Hagel (R-Neb)

Tim Johnson (D-SD)

Zell Miller (D-Ga)

Jack Reed (D-RI)

Rick Santorum (R-Pa)

Paul S Sarbanes (D-Md)

Charles E Schumer (D-NY)

Richard C Shelby (R-Ala)

Deborah Ann Stabenow (D-Mich)

John E Sununu (R-NH)

comittee members

Killed in a bipartisan manner?

Excellent point!!! couldn't agree with you more! It's both some republicans and some democrats faults. But NOT the Bush admins fault.

Is it not common to have the president propose something popular to the people with the prior knowledge that it will no way make it thru congress?
Remeber an election in 2004 and Bush's popularity was dropping.

 

[8537]

Chirs Dodd and Barney Frank did more damage to our economy that Al Qaeda ever could.

Chris Dodd and Barney Frank who, combined, didn't have enough power to prevent the Republicans from taking an unregistered bathroom break somehow prevented Republicans from passing legislation?

Do you people ever listen to how to stupid you sound?

You must be mistaken ... Just today Barack Obama stated that Republicans were holding up economic legislation, yet the Democrat leads in the House and Senate are larger than they were back when Republicans where in control. Are you calling the President of the United States a straight up liar?

I'm not mistaken. You'd need to show us some piece of legislation held up by Dems if you want to claim Dems held up legislation

 

[DiveCon]

Chirs Dodd and Barney Frank did more damage to our economy that Al Qaeda ever could.

Chris Dodd and Barney Frank who, combined, didn't have enough power to prevent the Republicans from taking an unregistered bathroom break somehow prevented Republicans from passing legislation?

Do you people ever listen to how to stupid you sound?

um, you mean like the way republicans are blocking everything NOW


btw, the GOP never had the numbers the dems do now

 

[johnrocks]

The New York Times

September 11, 2003
New Agency Proposed to Oversee Freddie Mac and Fannie Mae

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.
New Agency Proposed to Oversee Freddie Mac and Fannie Mae - The New York Times

BUT.....nothing happened and the GOP controlled the whole shootin match in 03 if memory serves.


Personally, I think government IS the problem...not the solution but I do enjoy digging up articles to see who said what or what actually took place vs. rhetoric.

 

[8537]

Chirs Dodd and Barney Frank did more damage to our economy that Al Qaeda ever could.

Chris Dodd and Barney Frank who, combined, didn't have enough power to prevent the Republicans from taking an unregistered bathroom break somehow prevented Republicans from passing legislation?

Do you people ever listen to how to stupid you sound?

um, you mean like the way republicans are blocking everything NOW


btw, the GOP never had the numbers the dems do now

So you don't have an example of a piece of legislation Democrats blocked?

of course Republicans are blocking everything now. if it's good for America right now, it's bad for Republicans. They know this.