They had the votes needed to threaten a filibuster. There was no possible way that the bill was ever going to get an up or down vote on the floor because of Democrat opposition. Democrats had the votes necessary to keep the bill permanently in limbo. It was in their financial best interest to do so, given that the GSEs were greaasing their pockets with huge political donations.
Democrats are primarily responsible for the Financial Crisis. Not my problem your partisanship has blinded you to the truth.