Again...tv man...<quoted text>
Statement of Administration Policy: H.R. 1461 - Federal Housing
Finance Reform Act of 2005
The Administration strongly believes that the housing GSEs should be focused on their core housing mission, particularly with respect to low-income Americans and first-time homebuyers. Instead, provisions of H.R. 1461 that expand mortgage purchasing authority would lessen the housing GSEs' commitment to low-income homebuyers.
wanna guess who sponsored it?
The House bill, the 2005 Federal Housing Finance Reform Act, would have created a stronger regulator with new powers to increase capital at Fannie and Freddie, to limit their portfolios and to deal with the possibility of receivership.
Mr Oxley reached out to Barney Frank, then the ranking Democrat on the committee and now its chairman, to secure support on the other side of the aisle. But after winning bipartisan support in the House, where the bill passed by 331 to 90 votes, the legislation lacked a champion in the Senate and faced hostility from the Bush administration.
Adamant that the only solution to the problems posed by Fannie and Freddie was their privatization, the White House attacked the bill. Mr Greenspan also weighed in, saying that the House legislation was worse than no bill at all.
Oxley isn’t too happy about all the criticism Congress is getting for letting Fannie and Freddie get too big.
“All the hand wringing and bedwetting is going on without remembering how the House stepped up on this,” he says.“What did we get from the White House? We got a one-finger salute.”
wouldn't it be nice if the right wing bloggers/FOX would tell the whole story?
Who made the PEOPLE TAKE THE MONEY...
Who said they did not have to pay it back?