Lack Of Government Oversight The Problem

[dilloduck]

it got it's money at a cheaper rate, about 1% less, than other conventional banks....

but if fannie/freddie are the sole problem, then why are all these other banks and institutions ...dropping like flies or begging for us to bail them out?

I never claimed f/f to be the problem. Why did the fed make it so cheap?

 

[HoleInTheVoid]

I have asked every poster that has stated this to PLEASE supply support or a link that shows HOW the democrats stopped this legislation from going forward, when it was the republicans than never even brought it up for a vote on the floor of the senate.....Hagel introduced it on to the floor and it was never brought up by the republican leadership for a vote...

there was no democratic filibuster that stopped it so what exactly did the Democrats do that stopped this legislation from moving forward?

Can you answer that?

No one else that printed that statement can answer this so far and i was wondering if you had any info that could support it.... i googled it to heck and high water and could find NOTHING?

Care

And what if they did?

Would you hem and haw that it means nothing or would it change your views and advocacies?

 

[xsited1]

They are an object lesson indeed. It's why socialism has flourished in other countries, because the failures of the Soviet Union are that object lesson.

Where has socialism flourished?

 

[Care4all]

And what if they did?

Would you hem and haw that it means nothing or would it change your views and advocacies?

All i want to know is, how did they stop this legislation...YOU and many others have repeated such and i'd like to see if you are telling the truth or just passing along another set of falsities to confuse us all...both sides of the aisle have them and get pawns to pass them around who don't bother researching the claim.... even i have been caught up in it from time to time honestly...

Anyway, the republicans were in power in 2003 and 2004 and 2005 and 2006 and with the majority, they could have brought up this legislation for debate and a vote, but they DID NOT....which to me, since they had ALL the control and power to do such, as the majority, means that they did NOT want to make this an issue themselves, for some reason....?

this whole thing is like a Who done it? mystery novel...and the twists and turns in trying to get to the bottom of it has certainly kept up with the best of the best Who done it books, that i have read...!

Care

 

[dilloduck]

All i want to know is, how did they stop this legislation...YOU and many others have repeated such and i'd like to see if you are telling the truth or just passing along another set of falsities to confuse us all...both sides of the aisle have them and get pawns to pass them around who don't bother researching the claim.... even i have been caught up in it from time to time honestly...

Anyway, the republicans were in power in 2003 and 2004 and 2005 and 2006 and with the majority, they could have brought up this legislation for debate and a vote, but they DID NOT....which to me, since they had ALL the control and power to do such, as the majority, means that they did NOT want to make this an issue themselves, for some reason....?

this whole thing is like a Who done it? mystery novel...and the twists and turns in trying to get to the bottom of it has certainly kept up with the best of the best Who done it books, that i have read...!

Care

you have one goal here--you want a party that you can blame.

 

[HoleInTheVoid]

To be certain lots of GOPers were rding dirty.

BUT

To claim the GOP did this is false if republicans--granted not all--were trying to stop the meltdown before it began.

It is also equally telling that democrats were pivotal in stopping reform and oversight.

So, you wanna call a spade a spade, fine. Here: http://www.usmessageboard.com/current-events/59389-heres-your-ing-deregulation-you-peons.html

Now show me the dems endorsing oversight and we can focus on specific bums--as opposd to parties--to throw-out.

 

[WillowTree]

To be certain lots of GOPers were rding dirty.

BUT

To claim the GOP did this is false if republicans--granted not all--were trying to stop the meltdown before it began.

It is also equally telling that democrats were pivotal in stopping reform and oversight.

So, you wanna call a spade a spade, fine. Here: http://www.usmessageboard.com/current-events/59389-heres-your-ing-deregulation-you-peons.html

Now show me the dems endorsing oversight and we can focus on specific bums--as opposd to parties--to throw-out.

I watched your film, and my question is why are those dumbass asses in Washington letting Barney Frank anywhere near those trying to correct this problem.. and agin why aren't Nancy and Harry pounding down on that damn gavel screaming "congression oversight is needed" Crickets say a lot donchaya think?

 

[HoleInTheVoid]

I watched your film, and my question is why are those dumbass asses in Washington letting Barney Frank anywhere near those trying to correct this problem.. and agin why aren't Nancy and Harry pounding down on that damn gavel screaming "congression oversight is needed" Crickets say a lot donchaya think?

Not every GOP'er was screaming for reform and oversight BEFORE the burst but I haven't seen ANY dems screaming for oversight until AFTER the burst.

 

[WillowTree]

They've all been scamming us for years and I hope like hell it all comes crashing down on their heads.

 

[Care4all]

Not every GOP'er was screaming for reform and oversight BEFORE the burst but I haven't seen ANY dems screaming for oversight until AFTER the burst.

House Financial Services Committee

For Immediate Release: March 9, 2007


Bipartisan GSE Reform and Oversight Legislation Introduced

New Legislation to Create New Independent Regulator; Affordable Housing Fund


Washington, DC - Congressman Barney Frank, along with Reps. Richard Baker (R-LA), Mel Watt (D-NC) and Gary Miller (R-CA) today introduced bipartisan legislation to overhaul the regulatory oversight of the government sponsored enterprises (GSE) of Fannie Mae, Freddie Mac and the Federal Home Loan Banks. The legislation, H.R. 1427, the “Federal Housing Finance Reform Act of 2007” is the product of both bipartisan legislation in the 109th Congress and careful discussions and compromise with the Department of Treasury. The legislation will create a new, independent regulator with broad powers analogous to current banking regulators. In addition, the bill creates an off budget and non-taxpayer financed affordable housing fund, which will dedicate hundreds of millions of dollars for the construction, maintenance and preservation of affordable housing with the first year of the fund to be dedicated to the hurricane stricken areas of the Gulf Coast.

The House Financial Services Committee will hold two hearings on this legislation next week with the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises holding a hearing on Monday, March 12 at 2:00 p.m. in Room 2128 and the full Committee will discuss the bill and hear from witnesses at a hearing on Thursday, March 15 at 10:00 a.m. in room 2128 Rayburn House Office Building.

“This is a very important bill which will enhance the regulatory authority in an appropriate manner, while significantly improving the contribution the GSE’s will make to increasing the stock of affordable housing in the country,” said Chairman Frank.

"I'm encouraged knowing that the legislation we introduce today represents the culmination of eight years of painstaking consensus-building and a solid foundation for bipartisan negotiation, improvement, and -- hopefully and at long last -- action," said Baker. "This bill creates the kind of tough regulatory oversight that companies this big and complex require, addresses the risks their portfolios present to taxpayers and the financial system, and improves their performance in providing affordable homeownership opportunities, especially in the two hurricane-stricken Gulf states so desperately in need of housing solutions."

 

[dilloduck]

They've all been scamming us for years and I hope like hell it all comes crashing down on their heads.

Amen--a pox on all of them. We need to put this scam behind us and start over.

 

[dilloduck]

House Financial Services Committee

So what happened to this legislation and WHY ?

 

[Care4all]

So what happened to this legislation and WHY ?

don't know....? the point and what i was answering, was whether dems spoke out prior to crisis/collapse, the answer was yes....

 

[dilloduck]

don't know....? the point and what i was answering, was whether dems spoke out prior to crisis/collapse, the answer was yes....

great--so did the reps. Big deal?
No one did shit about it and the knew full well we were in BIG trouble. These assholes jsut threw out money like it was candy and now they want me to pay for some poor shit in LA who bought a house he can't afford and some rich asshole who works for the Fed who has more money than God. Bullshit.

NO BAILOUT.

 

[sealybobo]

I've been telling people for 7 yrs now that oil men are regulating their own industry. Coal miner owners regulate themselves. Chaney's energy buddies regulate themselves.

The government grew under the gop. All under the scam of terrorism. All of bush's buddies were appointed to every government agency. Gao, fema, fcc, faa, justice dept, us attorneys, judges, and a lot of positions that should not have been politicized. Some things were neglegence, some were on purpose, but mistake and corruption ruled for 6 yrs when the gop ran everything. To forgive that and not clean hose is insane. It is time for some young republicans to change that party for the better.

The kkk is gop, but you don't cater specifically to them. So stop promising the religious right things 90 percent of us don't want.

 

[Care4all]

great--so did the reps. Big deal?
No one did shit about it and the knew full well we were in BIG trouble. These assholes jsut threw out money like it was candy and now they want me to pay for some poor shit in LA who bought a house he can't afford and some rich asshole who works for the Fed who has more money than God. Bullshit.

NO BAILOUT.

the house passed it:

GovTrack: House Vote On Passage: H.R. 1427: Federal Housing ...... House Vote #396 in 2007 [primary source]. Date: May 22, 2007 2:59PM. Result: Passed. Related Bill: H.R. 1427: Federal Housing Finance Reform Act of 2007


now looking to see if the senate had anything....

 

[frazzledgear]

i think secretary paulson is a socialist or communist too!!!! should he be burned at the stake for his ''socialism for the wealthiest'' $700 billion dollar bailout plan for the wall street crooks?

This was not a failure of the free market system as some (including Obama) insist it is. It was a COLOSSAL failure and proof positive of what happens when government INTERFERES with the free market. And once again it will end up being taxpayers who end up footing the bill for that government interference. If you fail to take the time to understand the basic philosophy of your own House Representative and Senator and send him/her to DC to wreak havoc in the name of the "better good" when it is anything but -then don't complain when you get socked with the bill for it.

Better figure out Obama's and McCain's basic philosophy before making it a disaster trifecta in who fully controls these two branches of government.

 

[WillowTree]

This was not a failure of the free market system as some (including Obama) insist it is. It was a COLOSSAL failure and proof positive of what happens when government INTERFERES with the free market. And once again it will end up being taxpayers who end up footing the bill for that government interference. If you fail to take the time to understand the basic philosophy of your own House Representative and Senator and send him/her to DC to wreak havoc in the name of the "better good" when it is anything but -then don't complain when you get socked with the bill for it.

Better figure out Obama's and McCain's basic philosophy before making it a disaster trifecta in who fully controls these two branches of government.

Not if John Bohener has his way!

 

[Kevin_Kennedy]

Why? For saving the Free Market system with government intervention?

Let's face it, you right wing wackos need to go play with your Tonka trucks and let the grown ups fix this mess. It's the right thing to do for America. The fact that we get to shit all over the right's anti-government ideology is just an added benefit

Saving it!? Where have you been the past two weeks?

 

[HoleInTheVoid]

House Financial Services Committee

OK, so you have Mel Watt, flanked by 2 republicans.

Meanwhile the evidence of dems blocking reform and hiring the crooks keeps piling higher.