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The Federal Housing Enterprise Regulatory Reform Act of 2005 is currently being cited as McCain's attempt to stop the current crisis and its death was at the hands of the democrats.
There's a couple things potentially wrong with that. First of all, McCain was merely a co-sponsor. Hagel was the primary backer of the bill. Second, the bill went to the Senate Committee on Banking, Housing, and Urban Affairs in 2005. That would be the 109th Congress. At the time, the Senate Committee on Banking, Housing, and Urban Affairs was controlled by the GOP. Richard Shelby (Alabama R) was the chairman and Paul S. Sarbanes was the ranking member. You may remember him from the Sarbanes-Oxley act. The GOP had a two person majority over the Democrats.
Now, I have a vague idea of what happens in these committees and all I can find on its last happening is this:
Jul 28, 2005: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
So who killed the Federal Housing Enterprise Regulatory Reform Act of 2005?
Was it the Democratic minority? Was it the Republican majority? Was it a majority of bipartisan? Was it a few members of one party joining the other to kill it? Who has information on this?
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005 (GovTrack.us)
Senate Committee on Banking, Housing, and Urban Affairs - Congresspedia
There's a couple things potentially wrong with that. First of all, McCain was merely a co-sponsor. Hagel was the primary backer of the bill. Second, the bill went to the Senate Committee on Banking, Housing, and Urban Affairs in 2005. That would be the 109th Congress. At the time, the Senate Committee on Banking, Housing, and Urban Affairs was controlled by the GOP. Richard Shelby (Alabama R) was the chairman and Paul S. Sarbanes was the ranking member. You may remember him from the Sarbanes-Oxley act. The GOP had a two person majority over the Democrats.
Now, I have a vague idea of what happens in these committees and all I can find on its last happening is this:
Jul 28, 2005: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
So who killed the Federal Housing Enterprise Regulatory Reform Act of 2005?
Was it the Democratic minority? Was it the Republican majority? Was it a majority of bipartisan? Was it a few members of one party joining the other to kill it? Who has information on this?
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005 (GovTrack.us)
Senate Committee on Banking, Housing, and Urban Affairs - Congresspedia