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Why didn't Obama bring up Christopher Dodd's name in his speech about the bailouts? ?
Federal Housing Enterprise Regulatory Reform Act of 2005
September 17th, 2008
I suggest everyone go to govtrack.us and look at John McCain’s record on attempting to reform the regulation of Fannie Mae and Freddy Mac. On May 25, 2006, John McCain urges:
…Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.
For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.
John McCain co-sponsored S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005. Unfortunately, it DID NOT make it out of the Senate Banking, Housing, and Urban Affairs committee chaired by Christopher Dodd [D, CT].
No wonder Obama is clueless, Dodd BLOCKED any attempts in 2005 to reform the problems we have today, and Dodd ran for President, the dimwit Democrats are really CLUELESS, add this to Barney Frank who is the Chair of the House Financial Services Committee
"These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis," Frank said. He added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.
- Anonymous1 decade agoFavorite Answer
DoDD was "caught" getting special favors from CountryWide CEO Mazillo and we havent or probably wont hear anymore of it since sweeping the real issues under the rug is how ALL OF CONGRESS PERFORMS.
THATS WHY THEY SPEND ALL THEIR TIME AND ALLL OUR MONEY TO "DEFLECT" THEIR PROBLEMS OUT OF THE SPOTLIGHT
- FrankLv 61 decade ago
There is a reason why Dodd got less than 1% of the vote in the primaries.
There's no need to bring his name up outside of CT.
- Bubba the HuttLv 41 decade ago
"The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
^Makes me want to punch him in the face.
"affordable housing" was defined as "whatever you can get a loan for", because naturally if you can get a loan for something then you can obviously afford it.