Why Don Americans Know That Democrats Blocked Regulation?
First of all, know your history before putting this blame entirely on Democrats. The Republicans were equally to blame….read below and weep: In 2003, Republicans controlled both branches of Congress (108th) and the White House. There were six bills introduced to reform the GSEs (due to the Freddie Mac accounting scandal in July) on the 108th Congress of 2003-2004. No bill moved out of committee. This means that there was no way that the Democrats used filibuster to block these bills because it never moved out of the committee. All the Rs would have had to do would have been to vote party line in the committee and the bill would have moved to the floor. It also means that in 2003 and 2004 the issue of finance reform was not a priority of the White House or Congressional Republicans. In the 109th Congress (2005-2006), the House overwhelmingly approved (331 to 90) HR 1461, The Federal Housing Finance Reform Act, designed “to create a stronger regulator for Fannie Mae and Freddie Mac.” T
