Talk about a mental midget!!!
Frank and Dodd were POWERLESS members of a MINORITY Party at the time!!!
And,....again....I must demand better opponents!!!!!!
You should realize how badly you are about to get burned when the old timer thanks you for a post.......
Now....observe as I eviscerate you....and the other mental midget.
1. "It was in 2005 that the GSEswhich had been acquiring increasing numbers of subprime and Alt-A loans for many years in order to meet their HUD-imposed affordable housing requirementsaccelerated the purchases that led to their 2008 insolvency.
If legislation along the lines of the Senate committee's bill had been enacted in that year, many if not all the losses that Fannie and Freddie have suffered, and will suffer in the future, might have been avoided.
Why was
there no action in the full Senate? As most Americans know today, it takes 60 votes to cut off debate in the Senate, and
the Republicans had only 55. To close debate and proceed to the enactment of the committee-passed bill,
the Republicans needed five Democrats to vote with them. But in a 45 member Democratic caucus that included Barack Obama and the current Senate Banking Chairman Christopher Dodd (D., Conn.), these votes could not be found.
... Obama has taken to accusing others of representing "special interests." In an April radio address he stated that his financial regulatory proposals were struggling in the Senate because "the financial industry and its powerful lobby have opposed modest safeguards against the kinds of reckless risks and bad practices that led to this very crisis."
He should know. As a senator, he was the third largest recipient of campaign contributions from Fannie Mae and Freddie Mac, behind only
Sens. Chris Dodd and John Kerry.
Wallison: Fannie and Freddie Amnesia - WSJ
2.
"Barney Frank (D-MA) Blocked Multiple Attempts At Reforming Fannie Mae And Freddie Mac Spanning Back To 1992
Sen. Chris Dodd (D-CT) Sen. Chuck Schumer (D-NY) Has Been A "Leading Voice For [Financial] Deregulation," Led Efforts To Block Reform Of Fannie Mae And Freddie Mac, And Was Instrumental In The Collapse Of Bank IndyMac
Way back in 2001 The Bush Administration raised red flags. In 2008,
Bush warned the Democratic majority 17 times that there was a looming crisis
Truth On Target: Obama's Financial Friends: Schumer, Dodd and Barney Frank
And so.....with apologies to Edmund Rostand.....'as I end my refrain...thrust home my sword!'
I do so appreciate you playing the role of foil to my mastery.