Why do people keep saying the Dems blocked Bush on regulating Fannie? Weren't the GOP controlling Congress?
I don't get it. The Republicans completely controlled Congress until January 1, 2007. Even afterwards they do not have a majority in the Senate and so cannot pass bills on their own. Takes both houses to pass a law. So who is spreading this business about the Dems stopped Bush (and McCain...I already know he did not produce or even work on the Chuck Hagel/Sununu/Dole bill...he signed on a couple years after they wrote it)
Already saw that dumb video. I get my info from Forbes and WSJ etc The Congressional Record and Whitehouse.gov work well. If there is an energy issue The Bureau of Land Management and the GAO has a swell site on Gov spending!
If you rely on YouTube <giggle> fine.
S190 * did not come to a vote in the Senate after dying in the Republican chaired Banking committee (11-Rep. and 9-Dem. ) By the rules and regs of the committee, the Chair did not need Democrats approval or vote to start an investigation. They did not. McCain added his name after Fannie announced that it had overstated its profits. He did not work on the bill at all.
Pres. Bush killed the House Bill written by Dems.
source: American Enterprise Institute, AEI--- Conservative Think Tank
*Chuck Hagel/Sununu/Dole: S190 -- Bill-to regulate the FM's and FHA banks.
- Anonymous1 decade agoBest Answer
You are right about Republicans being in the majority as it has been mentioned in the more coherent replies above.
What hasn't been mentioned above is the Republicans "Nuclear Option" which was the Republicans' threat to eliminate the filibuster if the Democrats used it. So, the Democrats couldn't filibuster any bill that wasn't obviously an abuse of power. Before last week, most Americans wouldn't have understood how severe the problems in the credit markets were.
- 1 decade ago
You're correct..The repubs had control through the Bush term until Jan 1st of 07. Now the Dems don't have a veto proof majority and keep in mind Bush never vetoed anything until the Dems took control.
The Republican party including Bush are to blame. The republicans are for no over sight of these financial institutions and now you see what happens when that happens.
- Anonymous4 years ago
misinformed person that I am... I've been AROUND long enough to know that the problems go back further than Bush, Clinton, OR even Reagan. Or did you not understand that Congress can pass a bill, and the President has veto power?
- Anonymous1 decade ago
Hmmm. Deregulation? Reagan? Republican? Do I see a pattern here? Nah!
Hmmm. Blame Democrats? Bush? Faux? Newshax? Republican? Do I see a pattern here? Nah!
"Accountability" is for the other guy. "The buck stops there."
Mr. Reagan, you remind me of a man.
The man with the power.
The power of voodoo.
Remind me of a man.
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- 1 decade ago
For many years Republicans have being screaming deregulation,for example,they love to say get the government out of the way and let the free market run itself,they have dismantlement supervision by not funding government regulatory organizations,Source(s): commong knowledge
- stygianwolfeLv 71 decade ago
The democrats in Congress filibustered every time the proposition came up,This means as long as they held the floor,no business could be passed.Barney Frank even said a few years ago ,during one of the attempts to look into Fannie Mae,and Freddie Mac,that they were sound,and too large to fail,and even if there was some trouble,the govt wouldn;t need to bail them out.12 attempts were made in the last 8-9 tears and the democrats stonewalled each attempt(in order to keep their cash cow flowing!)Source(s): Since the majority had been almost equal during the last eight years,it is possible to let a bill die on the floor.
- Anonymous1 decade ago
You got it. It's almost as bad as McCain saying he cares about vets. Oh yeah and don't forget libs hate America...they just twist things around until it looks right to them, doesn't have to the truth.
- Dina WLv 61 decade ago
No, they were not. The bill came across when the Democrats were in control of the congress..
Another liberal, who has no idea what is going on....
And why didn't Obama support this bil... Oh that's right he was busy getting a "friends and family" sweetheart deal from Country Wide at the time.
- comengetitnowLv 41 decade ago
Republicans have a very selective memory. Nothing bad ever happens on their watch.
- SoundlessLv 61 decade ago
If you haven't learned by now, you need to pay close attention.
As far as the pubs are concerned, EVERYTHING is the dems fault.