That would be
S. 1508: Federal Enterprise Regulatory Reform Act of 2003
A bill you
claim was blocked by Democrats.
But let's take a look at what actually happened to that bill, shall we...?
Last action:
Reported by Committee
A committee has issued a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.
So the bill was sent to Senate leadership with the recommendation of further consideration, which had Senate leadership wanted, could have put the bill on the Senate's legislative calendar to be put to an up/down vote by the full Senate.
That never happened.
So who blocked the bill from being put to an up/.down vote by the full Senate? You
claim it was Democrats. But were Democrats in charge of the Senate in 2003/2004? No, of course not. Republicans were and Bill Frist R-TN was the Senate Majority Leader who squashed that bill.
We'll just file this under 'A' -- for
Another brain dead conservative regurgitating bullshit on the forum.
Again several key Democrats saw nothing wrong with Fannie Mae and Freddie Mac. There was not one ounce of "documented reported rhetoric" coming from among the party, particularly Barnie Frank and Maxine Waters. Why wasn't Democrats really all that concerned with these two government giants that they had to try and convince the rest of congress, and the American people, that they were really quite solid and no kind of economic impact could result from a lack of oversight?
WHO BENEFITED IN PROHIBITING OVERSIGHT OF FANNIE MAE AND FREDDY MAC?
Top Recipients of Fannie Mae and Freddie Mac in the form of Campaign Contributions, 1989-2008
( 1 ) Dodd, Christopher Sen - CT D $133,900
( 2 ) Kerry, John Sen - MA D $111,000
( 3 ) Obama, Barack Sen - IL D $105,849
( 4 ) Clinton, Hillary Sen - NY D $75,550
OpenSecrets | Fannie Mae and Freddie Mac Invest in Democrats - Capital Eye
Again.......
Republicans controlled the Congress. You can't blame Democrats because Republicans wouldn't do their job.
I find it interesting how this perception of "doing their job" changes when it's liberals claim republicans have gotten in the way when Harry Reed failed at his job in passing a stronger economic jobs bill in creating more jobs to help strengthen the economy. .... or blaming republicans of hindering the ACA vote. Yet the democrats were the party in charge of it all, who could pass whatever they wanted and send it to the desk of Obama, I'm sure.
If Republicans had actually blocked those, then it would be reasonable to say the majority party Democrats failed to pass them because the minority party blocked them. That works that way for both parties regardless who's in charge.
I can only hope you're capable of comprehending that's not what happened regarding GSE reform as the minority party Democrats did not block any GSE reform bills. Though they were on the wrong side of the issue, it was Senate leadership who wouldn't allow any GSE reform bills to be put to a vote by the full Senate.
You can't blame Democrats for that.
The problem is, you are not aware of the process that actually took place in the senate in trying to create meaningful legislation to place that strict oversight on Fannie Mae and Freddie Mac.
Hearing of the Senate Banking, Housing, and Urban Affairs Committee - "Regulatory Reform of the Housing Government-Sponsored Enterprises"
Hearing
By: Richard Shelby
Date: April 21, 2004
Location: Washington, DC
This morning the Committee concludes its series of hearings on reforming the regulatory system for Fannie Mae, Freddie Mac and the Federal Home Loan Bank System."
The Committee has conducted a comprehensive set of hearings on the Housing GSEs, and we have heard testimony from a range of witnesses representing different perspectives in the Housing GSE reform debate.
Following today's hearing,
the Committee will begin to consider legislation to create a new regulatory structure for the Housing GSEs. As evidenced by the hearings, there are a number of difficult issues to confront and resolve. I am hopeful that consensus will develop.
With cooperation and consensus, I am hopeful that this Committee can pass a meaningful bill--- and I am only interested in producing meaningful regulatory reform.
Source:
U.S. Senate Committee on Banking, Housing, and Urban Affairs
DEMOCRATS ON THE COMMITTEE - 13
REPUBLICANS ON THE COMMITTEE - 6
• Richard Shelby (Ala) - Ranking Member
• Robert Bernetti (Utah)
• Jim Bunning (KY)
• Mike Crapo (Idaho)
•. Mel Martinez (Fla)
• Bob Corker (Tenn)
This clearly shows that a vote along party lines in allowing the committee to agree on any strict legislative action would quickly die in the senate without the bipartisan support it needed to move forward. So yes, it was blocked by Democrats.
I think that the responsibility that the Democrats had may rest more in resisting any efforts by Republicans in the Congress, or by me when I was President, to put some standards and tighten up a little on Fannie Mae and Freddie Mac.” –
Former President Bill Clinton (D-AR), September 25, 2008
Perhaps your information in placing the responsibility on Republicans "not doing its job" was based by a source unfamiliar with the investigative hearings and legislative process at the time, or its from a biased news source that was looking to spin and politicize such action for political gains during an election year?
