Oxley pulls bill under fire from Bush - MarketWatchNEW YORK (CBS.MW) -- Strong opposition by the Bush administration forced a top Republican congressman to delay a vote on a bill that would create a new regulator for mortgage giants Fannie Mae and Freddie Mac.
The vote on Rep. Michael Oxley's bill to reform oversight of government-sponsored entities including Fannie Mae and Freddie Mac was scheduled for Wednesday. Oxley, an Ohio Republican, is chairman of the House Financial Services Committee.
>>I feel the majority party & the White House are where the buck stops.
A valid argument. And, importantly, that's the way elections are typically decided
Yep, Barney Frank added a affordable lending slush fund to the Bill and it pushed off a third party regulator for a year or more.
Thats why it was stopped in favor of sb190. You should read beyond your left wing hack links and learn something.
Which NO Democrats on the Senate Banking committee voted for.
When sb190 was pushed back through a Democrat controlled senate in 2007 as sb1100, it never made it out of Committee.
Last edited by Fenton; 05-10-15 at 02:00 PM.
I can read quotes from Clinton, Raines, Reno, etc.... What you (persistently) fail to realize is they don't mean much within the context of the discussion. In order to show the government caused the housing bubble, you have to provide data (lots of it). Calling all subprime loans "worthless" cannot be confused with data analysis.I wouldn't expect you to understand anything I've posted on the 2008 Subprime mortgage crisis.
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
"Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911
October 7, 2004 The House Financial Services Committee Chairman Michael Oxley (R-OH)
cancels a markup on legislation to reform GSEs at the request of President Bush.
According to CBS Marketwatch: “Strong opposition by the Bush Administration
forced a top Republican congressman to delay a vote on a bill that would create a
new regulator for mortgage giants Fannie Mae and Freddie Mac.”
May 25, 2005
The House Financial Services Committee, under control of House Republicans and
Chairman Oxley, passed a GSE Reform bill, H.R. 1461, by a vote of 65-5. Every
Democrat on the Committee voted for the bill. Five Republicans, arguing that the
bill did not go far enough, voted against H.R. 1461: Reps. Ed Royce, Ron Paul,
Tom Feeney, Jeb Hensarling, and Scott Garrett.
July 28, 2005
The Senate Banking, Housing and Urban Affairs Committee, then chaired by Sen.
Richard Shelby (R-AL), passed S. 190, the Bush Administration’s bill, out of
Committee. The bill was passed by a party-line vote of 11-10. The bill did not
reach the Senate floor for a vote.
October 26, 2005 On the day the House was scheduled to vote on H.R. 1461, the Bush
Administration issued a Statement of Administration Policy opposing the House
Republican GSE bill.
October 26, 2005 H.R. 1461 passes House by a vote of 331-90, with 122 Democrats voting in favor.
Note: Frank voted against the bill when it reached the floor, but not because of
any opposition to reforming the GSEs, but because the Republican leadership
decided to cut out funding for faith-based charities that provide low-income rental
housing from the Affordable Housing Trust Fund.
September 2006 Oxley and Frank send a bipartisan letter to Senator Shelby urging GSE reform.
Many Democrats and Republicans signed this letter urging the Senate to act.
Sb 190 was passed through the Committee with this many Democrat votes ( Zero )
And a promise of a Rule 22 Fillibuster if it ever made It down to the Senate floor for a vote by the ranking Democrat on the Committee, Chris Dodd.
Democrats used the Rule 22 Fillibuster option repeatedly during the Bush presidency to marginalize the GOP majority.
Sb190 was re-introduced back into the Committee as Sb1100 in 2007 after the Democrats had taken back the Senate and chaired the committee.
Of-course, it never made it out of Committee.
The Democrats repeatedly fought off any attempt to regulate the two most corrupt Financial entities involved in the Subprime mortgage crisis during the Bush presidency.
But once Fannie and Freddie were declared insolvent, they passed regulatory reform.
Janet Reno AND Robert Rubin bragging about the effectiveness of Clintons CRA changes and the effectivness of his Fair lending task force is not in context ? Lol.
Ruben and Reno even quantified the sucess of his CRA changes and his Fair lending Task Force and I've posted their quotes over and over and over.
Its not in context with the debunked left wing narratives that blame the banks and Bush but its definitely relevant to what actually happened.