Judging Obama's Handling of the Budget and the Economy Fairly

[Faun]

5.5 million!

2002: President George W. Bush announced a new initiative to create 5.5 million new homeowners by 2010. “The goal is, everybody who wants to own a home has got a shot at doing so,” the President said at a June press conference in Washington. Among other things, the President cited “high down payments” as a barrier to homeownership that needed to be addressed. The President also said that both Fannie Mae and Freddie Mac would help in reaching the new goals.

Thanks.
Now where did that say Bush wrote 5.5 million 1% mortgages?

The President also said that both Fannie Mae and Freddie Mac would help in reaching the new goals.

50% mandate, going up to 55%. DERP!

It said it was Bush's GOAL.

Bush and Clinton both had stupid goals for subprime borrowers.

Nope, just Bush.

Jack Cashill, writing for the American Thinker, notes: "HUD, which Congress had made the regulator of Fannie Mae and Freddie Mac in 1992, began to pressure these agencies to set numerical goals for affordable housing, even if that meant buying subprime mortgages. The media cheered the agencies on."

Under HUD Secretary Andrew Cuomo, the agency became particularly aggressive, in 2000 making a goal of over $1 trillion in new loans to low-income minority households. Fannie Mae and Freddie Mac were told to make at least half of their loans to low- and moderate-income borrowers, mainly minorities.

Banks suddenly found that regulators had the power to refuse their branch expansions or reject a merger if they weren't making enough loans to otherwise unqualified minority borrowers. So they played along. They made the loans, and Freddie and Fannie bought the loans right back. It was like a game of musical chairs, and the Fed kept the game going in the early 2000s by cutting interest rates.

Every time Republicans in Congress or President Bush talked about reforming housing programs, Democrats like Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut threw fits, threatening to gum up Congress and implying that GOP lawmakers were racists. The Republicans backed off.

From 1997 to 2007, with the Fed slashing interest rates and flooding the banking system with liquidity, home lending soared. Banks abandoned long-standing lending standards to avoid being punished by regulators or singled out by newly empowered "community groups" such as ACORN as anti-minority.

"As a result of these policies," wrote Peter J. Wallison, a member of the Financial Crisis Inquiry Commission, in a scathing dissent from the group's official findings, "by the middle of 2007, there were approximately 27 million subprime and Alt-A mortgages in the U.S. financial system — half of all mortgages outstanding — with an aggregate value of over $4.5 trillion." And by 2008, Fannie and Freddie had on their books more than three-quarters of all U.S. subprime and Alt-A loans made.

Sorry, Hillary, You And Bill — Not Tax Cuts — Caused The Financial Crisis | Stock News & Stock Market Analysis - IBD

LOLOL

Oh, no, it’s Barney Frank’s fault

So says another rightwingnut think tank.

 

[Toddsterpatriot]

Thanks.
Now where did that say Bush wrote 5.5 million 1% mortgages?

The President also said that both Fannie Mae and Freddie Mac would help in reaching the new goals.

50% mandate, going up to 55%. DERP!

It said it was Bush's GOAL.

Bush and Clinton both had stupid goals for subprime borrowers.

Nope, just Bush.

Jack Cashill, writing for the American Thinker, notes: "HUD, which Congress had made the regulator of Fannie Mae and Freddie Mac in 1992, began to pressure these agencies to set numerical goals for affordable housing, even if that meant buying subprime mortgages. The media cheered the agencies on."

Under HUD Secretary Andrew Cuomo, the agency became particularly aggressive, in 2000 making a goal of over $1 trillion in new loans to low-income minority households. Fannie Mae and Freddie Mac were told to make at least half of their loans to low- and moderate-income borrowers, mainly minorities.

Banks suddenly found that regulators had the power to refuse their branch expansions or reject a merger if they weren't making enough loans to otherwise unqualified minority borrowers. So they played along. They made the loans, and Freddie and Fannie bought the loans right back. It was like a game of musical chairs, and the Fed kept the game going in the early 2000s by cutting interest rates.

Every time Republicans in Congress or President Bush talked about reforming housing programs, Democrats like Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut threw fits, threatening to gum up Congress and implying that GOP lawmakers were racists. The Republicans backed off.

From 1997 to 2007, with the Fed slashing interest rates and flooding the banking system with liquidity, home lending soared. Banks abandoned long-standing lending standards to avoid being punished by regulators or singled out by newly empowered "community groups" such as ACORN as anti-minority.

"As a result of these policies," wrote Peter J. Wallison, a member of the Financial Crisis Inquiry Commission, in a scathing dissent from the group's official findings, "by the middle of 2007, there were approximately 27 million subprime and Alt-A mortgages in the U.S. financial system — half of all mortgages outstanding — with an aggregate value of over $4.5 trillion." And by 2008, Fannie and Freddie had on their books more than three-quarters of all U.S. subprime and Alt-A loans made.

Sorry, Hillary, You And Bill — Not Tax Cuts — Caused The Financial Crisis | Stock News & Stock Market Analysis - IBD

LOLOL

Oh, no, it’s Barney Frank’s fault

So says another rightwingnut think tank.

Nah. Clinton, Bush, HUD, Fannie, Freddie, the Fed, bankers, borrowers, human nature.
But not Barney. Not at all. He was innocent.

 

[kaz]

I can't believe anyone didn't know there was a recession at the end of Slick's term and another at the end of W's. It's unbelievable

Stop kazzing already. There was no recession at the end of Clinton’s presidency.

http://www.nber.org/cycles.html

There was no recession at the end of Clinton’s presidency.

Exactly! The recession didn't start until March 2001.

Correct, and there would have been no recession at all if not for 9.11.

Faun is kazzing again. A recession that started 3/11 is because of 9/11. Cant make up the stupid that he actually is

LOL

WTF is 3/11??

And who’s making anything up? You think 9.11 wasn’t the catalyst for that recession just because you’re ignorant of that fact?

The group also said the economy might have been able to avoid a recession without the impact of the Sept. 11 terrorist attack, which all but shut down the economy for several days and has had a lasting impact on tourism, the airline industry and other businesses.

Economists say recession began in March - Nov. 26, 2001​

By the way, are you going to put yourself on ignore for using the name “Kaz” as a synonym for liar?

I didnt put anyone on ignore for that. I put the couple of playgrounders you rounded up who were chanting on ignore for playground chanting someone else's material.

It was your line. I didnt put you on ignore until you started flaming me.

3/11 is march 2011, stupid fuck. You are blaming a recession on an event that happened six months later the recession started. My god you are stupid

 

[edthecynic]

5.5 million!

2002: President George W. Bush announced a new initiative to create 5.5 million new homeowners by 2010. “The goal is, everybody who wants to own a home has got a shot at doing so,” the President said at a June press conference in Washington. Among other things, the President cited “high down payments” as a barrier to homeownership that needed to be addressed. The President also said that both Fannie Mae and Freddie Mac would help in reaching the new goals.

Thanks.
Now where did that say Bush wrote 5.5 million 1% mortgages?

The President also said that both Fannie Mae and Freddie Mac would help in reaching the new goals.

50% mandate, going up to 55%. DERP!

It said it was Bush's GOAL.

Bush and Clinton both had stupid goals for subprime borrowers.

Nope, just Bush.

Jack Cashill, writing for the American Thinker, notes: "HUD, which Congress had made the regulator of Fannie Mae and Freddie Mac in 1992, began to pressure these agencies to set numerical goals for affordable housing, even if that meant buying subprime mortgages. The media cheered the agencies on."

Under HUD Secretary Andrew Cuomo, the agency became particularly aggressive, in 2000 making a goal of over $1 trillion in new loans to low-income minority households. Fannie Mae and Freddie Mac were told to make at least half of their loans to low- and moderate-income borrowers, mainly minorities.

Banks suddenly found that regulators had the power to refuse their branch expansions or reject a merger if they weren't making enough loans to otherwise unqualified minority borrowers. So they played along. They made the loans, and Freddie and Fannie bought the loans right back. It was like a game of musical chairs, and the Fed kept the game going in the early 2000s by cutting interest rates.

Every time Republicans in Congress or President Bush talked about reforming housing programs, Democrats like Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut threw fits, threatening to gum up Congress and implying that GOP lawmakers were racists. The Republicans backed off.

From 1997 to 2007, with the Fed slashing interest rates and flooding the banking system with liquidity, home lending soared. Banks abandoned long-standing lending standards to avoid being punished by regulators or singled out by newly empowered "community groups" such as ACORN as anti-minority.

"As a result of these policies," wrote Peter J. Wallison, a member of the Financial Crisis Inquiry Commission, in a scathing dissent from the group's official findings, "by the middle of 2007, there were approximately 27 million subprime and Alt-A mortgages in the U.S. financial system — half of all mortgages outstanding — with an aggregate value of over $4.5 trillion." And by 2008, Fannie and Freddie had on their books more than three-quarters of all U.S. subprime and Alt-A loans made.

Sorry, Hillary, You And Bill — Not Tax Cuts — Caused The Financial Crisis | Stock News & Stock Market Analysis - IBD

American Stinker and Invested Bigots Daily are not credible sources, they are FAKE NEWS!

 

[edthecynic]

5.5 million!

2002: President George W. Bush announced a new initiative to create 5.5 million new homeowners by 2010. “The goal is, everybody who wants to own a home has got a shot at doing so,” the President said at a June press conference in Washington. Among other things, the President cited “high down payments” as a barrier to homeownership that needed to be addressed. The President also said that both Fannie Mae and Freddie Mac would help in reaching the new goals.

Thanks.
Now where did that say Bush wrote 5.5 million 1% mortgages?

The President also said that both Fannie Mae and Freddie Mac would help in reaching the new goals.

50% mandate, going up to 55%. DERP!

It said it was Bush's GOAL.

Bush and Clinton both had stupid goals for subprime borrowers.

Nope, just Bush.

Nope, just Bush.

Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in "credit-deprived" areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn't comply with these rules, regulators reined in their ability to expand lending and deposits.

These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What's more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase "subprime" became commonplace. What an understatement.

Kudlow: Are the Clintons the real housing crash villains?

KrudBlow is hardly credible for anything, especially anything involving economics.

 

[Ray From Cleveland]

Obama's multiple Trillion dollar stimuli didn't work. They were a pay back to unions, and cronies like Solyndra for their support to get him elected. Nothing more. It just added to our debt with no return on investment as evidenced by very low, or negative GDP growth, and cooked unemployment stats.

Spreading your disinformation doesnt do anybody any good.

In 2012, the IGM Forum poll conducted by the University of Chicago Booth School of Business found 80% of leading economists agree unemployment was lower at the end of 2010 than it would have been without the stimulus.

And the cost was $821 billion.

About the loan guarantee program that helped Solyndra: it was started by Bush.

It was part of a program started by Bush, but Solyndra didn't get one dime until DumBama got into office.

 

[Ray From Cleveland]

The reform bills were blocked in COMMITTEE completely controlled by the GOP. The GOP had the chairmanship of every committee and two more voted then the Dems on the committee, the Dems were POWERLESS to block anything.

But they did. As the video shows, they fought tooth and nail to make sure there was no oversight committee for F and F. The Democrats in the video claimed there was no problem in the lending practices, and Republicans were hell bent on showing a problem emerging.

Agaiin, the GOP blocked everything IN COMMITTEE, which the GOP CONTROLLED and the Dems were POWERLESS. All the Dems could do was talk.
Repeating your lie does not make it any less of a lie, it only makes you a SERIAL LIAR.

Very well, show me this evidence that the Republicans blocked F and F oversight, or that they blocked any legislation to prevent the housing crash.

Umm...no oversight bill passed in the Senate. Republicans controlled the Senate. The only bill to pass in the Senate came in 2008, by Democrats. But it was too late — the damage occurred years earlier.

It never made it to the Senate because it was stopped in committee with equal number of representatives on both sides.

 

[Faun]

It said it was Bush's GOAL.

Bush and Clinton both had stupid goals for subprime borrowers.

Nope, just Bush.

Jack Cashill, writing for the American Thinker, notes: "HUD, which Congress had made the regulator of Fannie Mae and Freddie Mac in 1992, began to pressure these agencies to set numerical goals for affordable housing, even if that meant buying subprime mortgages. The media cheered the agencies on."

Under HUD Secretary Andrew Cuomo, the agency became particularly aggressive, in 2000 making a goal of over $1 trillion in new loans to low-income minority households. Fannie Mae and Freddie Mac were told to make at least half of their loans to low- and moderate-income borrowers, mainly minorities.

Banks suddenly found that regulators had the power to refuse their branch expansions or reject a merger if they weren't making enough loans to otherwise unqualified minority borrowers. So they played along. They made the loans, and Freddie and Fannie bought the loans right back. It was like a game of musical chairs, and the Fed kept the game going in the early 2000s by cutting interest rates.

Every time Republicans in Congress or President Bush talked about reforming housing programs, Democrats like Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut threw fits, threatening to gum up Congress and implying that GOP lawmakers were racists. The Republicans backed off.

From 1997 to 2007, with the Fed slashing interest rates and flooding the banking system with liquidity, home lending soared. Banks abandoned long-standing lending standards to avoid being punished by regulators or singled out by newly empowered "community groups" such as ACORN as anti-minority.

"As a result of these policies," wrote Peter J. Wallison, a member of the Financial Crisis Inquiry Commission, in a scathing dissent from the group's official findings, "by the middle of 2007, there were approximately 27 million subprime and Alt-A mortgages in the U.S. financial system — half of all mortgages outstanding — with an aggregate value of over $4.5 trillion." And by 2008, Fannie and Freddie had on their books more than three-quarters of all U.S. subprime and Alt-A loans made.

Sorry, Hillary, You And Bill — Not Tax Cuts — Caused The Financial Crisis | Stock News & Stock Market Analysis - IBD

LOLOL

Oh, no, it’s Barney Frank’s fault

So says another rightwingnut think tank.

Nah. Clinton, Bush, HUD, Fannie, Freddie, the Fed, bankers, borrowers, human nature.
But not Barney. Not at all. He was innocent.

Your link actually blamed Barney -- a member of the minority party with no power to stop the Republican-led Congress from passing GSE oversight.

 

[Faun]

The reform bills were blocked in COMMITTEE completely controlled by the GOP. The GOP had the chairmanship of every committee and two more voted then the Dems on the committee, the Dems were POWERLESS to block anything.

But they did. As the video shows, they fought tooth and nail to make sure there was no oversight committee for F and F. The Democrats in the video claimed there was no problem in the lending practices, and Republicans were hell bent on showing a problem emerging.

Agaiin, the GOP blocked everything IN COMMITTEE, which the GOP CONTROLLED and the Dems were POWERLESS. All the Dems could do was talk.
Repeating your lie does not make it any less of a lie, it only makes you a SERIAL LIAR.

Very well, show me this evidence that the Republicans blocked F and F oversight, or that they blocked any legislation to prevent the housing crash.

Umm...no oversight bill passed in the Senate. Republicans controlled the Senate. The only bill to pass in the Senate came in 2008, by Democrats. But it was too late — the damage occurred years earlier.

It never made it to the Senate because it was stopped in committee with equal number of representatives on both sides.

Just how ignorant are you?? Committees don't have equal number of representatives on both sides. The majority party always has more and is also run by the majority party. And they were not stopped in committee. They were reported in committee but were never put on the legislative calendar for a full up/down vote. One even passed in the House but was also never put up for a full vote in the Senate.

That malfeasance is solely on Republicans.

 

[Faun]

Stop kazzing already. There was no recession at the end of Clinton’s presidency.

http://www.nber.org/cycles.html

There was no recession at the end of Clinton’s presidency.

Exactly! The recession didn't start until March 2001.

Correct, and there would have been no recession at all if not for 9.11.

Faun is kazzing again. A recession that started 3/11 is because of 9/11. Cant make up the stupid that he actually is

LOL

WTF is 3/11??

And who’s making anything up? You think 9.11 wasn’t the catalyst for that recession just because you’re ignorant of that fact?

The group also said the economy might have been able to avoid a recession without the impact of the Sept. 11 terrorist attack, which all but shut down the economy for several days and has had a lasting impact on tourism, the airline industry and other businesses.

Economists say recession began in March - Nov. 26, 2001​

By the way, are you going to put yourself on ignore for using the name “Kaz” as a synonym for liar?

I didnt put anyone on ignore for that. I put the couple of playgrounders you rounded up who were chanting on ignore for playground chanting someone else's material.

It was your line. I didnt put you on ignore until you started flaming me.

3/11 is march 2011, stupid fuck. You are blaming a recession on an event that happened six months later the recession started. My god you are stupid

LOLOLOLOLOL

Keep calling me a "stupid fuck" while you keep railing about a recession in "March, 2011," when the recession was actually a decade earlier; in 2001.

Damn, I love that kind of irony, don't you?

Oh, and by the way, kazzing Kaz .... it wasn't me who came up with the notion that 9.11 could have been the final hit to our economy in 2001 which resulted in a recession -- it was the NBER.​

 

[Toddsterpatriot]

Bush and Clinton both had stupid goals for subprime borrowers.

Nope, just Bush.

Jack Cashill, writing for the American Thinker, notes: "HUD, which Congress had made the regulator of Fannie Mae and Freddie Mac in 1992, began to pressure these agencies to set numerical goals for affordable housing, even if that meant buying subprime mortgages. The media cheered the agencies on."

Under HUD Secretary Andrew Cuomo, the agency became particularly aggressive, in 2000 making a goal of over $1 trillion in new loans to low-income minority households. Fannie Mae and Freddie Mac were told to make at least half of their loans to low- and moderate-income borrowers, mainly minorities.

Banks suddenly found that regulators had the power to refuse their branch expansions or reject a merger if they weren't making enough loans to otherwise unqualified minority borrowers. So they played along. They made the loans, and Freddie and Fannie bought the loans right back. It was like a game of musical chairs, and the Fed kept the game going in the early 2000s by cutting interest rates.

Every time Republicans in Congress or President Bush talked about reforming housing programs, Democrats like Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut threw fits, threatening to gum up Congress and implying that GOP lawmakers were racists. The Republicans backed off.

From 1997 to 2007, with the Fed slashing interest rates and flooding the banking system with liquidity, home lending soared. Banks abandoned long-standing lending standards to avoid being punished by regulators or singled out by newly empowered "community groups" such as ACORN as anti-minority.

"As a result of these policies," wrote Peter J. Wallison, a member of the Financial Crisis Inquiry Commission, in a scathing dissent from the group's official findings, "by the middle of 2007, there were approximately 27 million subprime and Alt-A mortgages in the U.S. financial system — half of all mortgages outstanding — with an aggregate value of over $4.5 trillion." And by 2008, Fannie and Freddie had on their books more than three-quarters of all U.S. subprime and Alt-A loans made.

Sorry, Hillary, You And Bill — Not Tax Cuts — Caused The Financial Crisis | Stock News & Stock Market Analysis - IBD

LOLOL

Oh, no, it’s Barney Frank’s fault

So says another rightwingnut think tank.

Nah. Clinton, Bush, HUD, Fannie, Freddie, the Fed, bankers, borrowers, human nature.
But not Barney. Not at all. He was innocent.

Your link actually blamed Barney -- a member of the minority party with no power to stop the Republican-led Congress from passing GSE oversight.

Under HUD Secretary Andrew Cuomo, the agency became particularly aggressive, in 2000 making a goal of over $1 trillion in new loans to low-income minority households. Fannie Mae and Freddie Mac were told to make at least half of their loans to low- and moderate-income borrowers, mainly minorities.

 

[Oldstyle]

He was the most anti-business President in our lifetime.

From your end of the spectrum, that's what I would expect.

Bush left behind the worst and most complex financial/business disaster of our lifetimes, but he was better.

Okay, sure.
.

Bush set Obama up with TARP. Obama gave us ObamaCare and the Obama Stimulus...the first was a job killer and the second under performed so badly they had to bullshit us on the numbers with "Jobs Saved or Created"!

What I found telling about Obama was what his next big policy goal was going to be...passing Cap & Trade legislation. THAT would have been devastating to the US economy!

Bush had to stand back and allow TARP to be crammed through because he had no choice. The economy was in abject collapse.

Bush celebrated and trumpeted the phony real estate numbers all the way through his presidency. He celebrated and trumpeted the lack of regulations that allowed the ratings agencies to sell AAA (Treasury-level!) ratings for the absolute shit securities that brought us down. He celebrated and trumpeted the lack of regulations that allowed AIG to sell zillions of dollars in credit default swaps (insurance) on those shit securities with zero (0) dollars in reserve for them. Hey, what could go wrong?!

He happily turned a blind eye to the absolutely insane loans being offered and sold by mortgage companies, who knew they'd have them packaged and sold as (holy shit, wtf) AAA by noon the next day. He loved the lack of regulation that allowed the banks to SHORT the very shit securities they were SELLING as AAA. He smiled as Alan Greenspan - who would later say "oops, shit, sorry, my bad" - aggressively refused to regulate critical derivatives markets even though he had the authority to do so, even though CFTC Chairperson Brooksley Born herself BEGGED him to.

In other words, Bush took credit for the all supposed good stuff, and then handed a steaming pile of shit to his successor. Nothing Obama did after that, as blatantly naive as he was about business, caused as much damage to both businesses and individuals as Bush did. Not even close.
.

Did you sleep through the Bush Presidency, Mac? You might want to go back and read up on it.

Bush pushed TARP through despite getting some pretty serious heat from fiscal conservatives from his own party who were dead set against "bailing out" financial institutions.

He also was one of the few in Washington that was warning about a looming problem with the housing market and what was being done over at Fannie Mae and Freddie Mac.

Bush is far from blameless for the 2007 recession but he's also not the "master" of that disaster as you'd like to make him out to be and his handling of TARP loans...in hindsight...was well done.

As for what Obama "did" to businesses? Passing the ACA?...putting in place more new regulations than any other administration in history?...changing the rule of law to favor the UAW over creditors in the GM deal?...using the Gulf oil spill to shut down permitting for all drilling even shallow water drilling that had an almost perfect safety record?...taking Boeing to court because they opened a plant in South Carolina, a right to work State, rather than Washington? That's not even delving into what his PROPOSED regulations...like Cap & Trade...did to businesses trying to plan their long term strategies!

It seems like you've managed to sleep through two Presidencies, Mac!

Well, since I'm an investment advisor, neck deep in the investing & financial world and had to guide the life savings of a couple of hundred clients through the Meltdown, I'll have to take your word for it. You must know MUCH more about it than I.

I notice you didn't address my specifics. That's okay. Most people's knowledge of what actually happened is shallow, distorted or both.

And actually it was then-Treasury Secretary Henry Paulson who came up with and pushed TARP through the political morass. Bush just did as he was told and otherwise stayed the hell out of the way like a good boy.

You may want to fool with someone else on this topic.
.

Are you kidding me? Now you're claiming that it was Henry Paulson that was actually running the country and George W. Bush just did what he was told to do...like a good little boy?

I sincerely hope that nobody goes to you for investment advise, Mac...because to be quite blunt...you're an IDIOT!

As for addressing your "specifics"? What clueless thing did you want me to address?

 

[Ray From Cleveland]

But they did. As the video shows, they fought tooth and nail to make sure there was no oversight committee for F and F. The Democrats in the video claimed there was no problem in the lending practices, and Republicans were hell bent on showing a problem emerging.

Agaiin, the GOP blocked everything IN COMMITTEE, which the GOP CONTROLLED and the Dems were POWERLESS. All the Dems could do was talk.
Repeating your lie does not make it any less of a lie, it only makes you a SERIAL LIAR.

Very well, show me this evidence that the Republicans blocked F and F oversight, or that they blocked any legislation to prevent the housing crash.

Umm...no oversight bill passed in the Senate. Republicans controlled the Senate. The only bill to pass in the Senate came in 2008, by Democrats. But it was too late — the damage occurred years earlier.

It never made it to the Senate because it was stopped in committee with equal number of representatives on both sides.

Just how ignorant are you?? Committees don't have equal number of representatives on both sides. The majority party always has more and is also run by the majority party. And they were not stopped in committee. They were reported in committee but were never put on the legislative calendar for a full up/down vote. One even passed in the House but was also never put up for a full vote in the Senate.

That malfeasance is solely on Republicans.

Oh, so true, Democrats had ONE less vote. And with that you put the blame entirely on Republicans.

 

[edthecynic]

It never made it to the Senate because it was stopped in committee with equal number of representatives on both sides.

LIAR!
The majority Party always has 2 more votes than the minority Party, one more member plus the chairman.

 

[edthecynic]

Oh, so true, Democrats had ONE less vote. And with that you put the blame entirely on Republicans.

2 less votes when you include the chairman. And yes, the Dems voted unanimously to move the reform bill forward for a full vote and the GOP voted unanimously to keep the bill in committee.

 

[Faun]

Agaiin, the GOP blocked everything IN COMMITTEE, which the GOP CONTROLLED and the Dems were POWERLESS. All the Dems could do was talk.
Repeating your lie does not make it any less of a lie, it only makes you a SERIAL LIAR.

Very well, show me this evidence that the Republicans blocked F and F oversight, or that they blocked any legislation to prevent the housing crash.

Umm...no oversight bill passed in the Senate. Republicans controlled the Senate. The only bill to pass in the Senate came in 2008, by Democrats. But it was too late — the damage occurred years earlier.

It never made it to the Senate because it was stopped in committee with equal number of representatives on both sides.

Just how ignorant are you?? Committees don't have equal number of representatives on both sides. The majority party always has more and is also run by the majority party. And they were not stopped in committee. They were reported in committee but were never put on the legislative calendar for a full up/down vote. One even passed in the House but was also never put up for a full vote in the Senate.

That malfeasance is solely on Republicans.

Oh, so true, Democrats had ONE less vote. And with that you put the blame entirely on Republicans.

No, I blame it entirely on Republicans because they reported these bills in committee. They didn't pass because Republican leadership wouldn't allow them to the Senate floor for an up/down vote. You can't blame Democrats for that. You can't blame Barney Frank and you can't blame Chris Dodd. Their positions were wrong, but they were in no position to prevent any of those bills from being voted on.

And the fact that there were more Republicans than Democrats in those committees only serves to demonstrate your own ignorance for thinking they were equally represented.

 

[Ray From Cleveland]

It never made it to the Senate because it was stopped in committee with equal number of representatives on both sides.

LIAR!
The majority Party always has 2 more votes than the minority Party, one more member plus the chairman.

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the savings and loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.[19] While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized. A Senate reform bill introduced by Senator Jon Corzine (D-NJ) (S.1656[20]) never made it out of the 21-member (10 D, 11 R) Senate Banking, Housing, and Urban Affairs Committee.[21] At the time, some members of the 108th congress expressed faith in the solvency of Fannie Mae and Freddie Mac. Congressman Barney Frank (D-MA), for example, described them as "not facing any kind of financial crisis".[22]

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia

 

[sartre play]

They all messed up, they still all mess up, there is no contact with regular working people, as they line there pockets with our money, make all rules & laws that favor them self.

 

[sartre play]

Except for talk, there great at telling us what we want to hear, then doing what ever works best for them.

 

[Faun]

It never made it to the Senate because it was stopped in committee with equal number of representatives on both sides.

LIAR!
The majority Party always has 2 more votes than the minority Party, one more member plus the chairman.

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the savings and loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.[19] While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized. A Senate reform bill introduced by Senator Jon Corzine (D-NJ) (S.1656[20]) never made it out of the 21-member (10 D, 11 R) Senate Banking, Housing, and Urban Affairs Committee.[21] At the time, some members of the 108th congress expressed faith in the solvency of Fannie Mae and Freddie Mac. Congressman Barney Frank (D-MA), for example, described them as "not facing any kind of financial crisis".[22]

Federal takeover of Fannie Mae and Freddie Mac - Wikipedia

There was also:

H.R.2575: To reform the regulation of certain housing-related Government-sponsored enterprises, and for other purposes.

S. 1508: Federal Enterprise Regulatory Reform Act of 2003

S. 190: Federal Housing Enterprise Regulatory Reform Act of 2005

H.R. 1461: Federal Housing Finance Reform Act of 2005

Republican leadership sent anyone of them to the Senate floor for a full up/down vote.