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Originally Posted by dc_dux
I've heard the CRA argument and the facts might suggest otherwise.
...most subprime loans were made by lenders that aren’t subject to the CRA.
....something like 50% of subprime loans were made by mortgage service companies not subject to federal regulation and another 30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations as a result of deregulation.
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Which presumably is why Republicans were attempting to increase regulation of the industry. Do you not intend to address the support voiced by Barney Frank and Charles Schumer for the disastrous policies of Fannie and Freddie?
Quote:
Originally Posted by dc_dux
McCain's 2005-06 Fannie/Freddie bill? The one written for the most part by the Fannie/Freddie lobbyist who is now his campaign director and whose firm received of thousands in lobbying fees from Fannie/Freddie?
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If receiving more than $100,000 from Fannie or Freddie indicates a problem, the Democrats are going to need a new presidential candidate, because Obama falls into that category. So does Chris Dodd. And yet, one of the people circled below wants to lay the entire blame at the feet of the Republicans.
OpenSecrets | Update: Fannie Mae and Freddie Mac Invest in Lawmakers - Capital Eye
Quote:
Originally Posted by dc_dux
It wasnt blocked by the Democrats...it never got out of committee in the Republican controlled Senate.
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It most certainly DID get out of committee, in spite of the united (as in unanimous) opposition to it by the Democrats on the committee.
The Republicans saw such a united Democratic front on the floor that they never brought it to a vote.
Edit: I am still unable to find the "control" of the Senate which is so frequently referenced. A reference to a bill that passed over the united objection of every, or even most Democrats during that period would be helpful.