Why was Freddie not regulated

Discussion in 'Politics' started by LeBuick, Feb 23, 2009.

  1. LeBuick

    LeBuick
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    Rev and I were discussing in another thread that is now closed how the Republican's tried to do something about Freddie Mac. He talked about the legislation that was introduced but blamed the Democrats for blocking the measure.

    I ran across this interesting article that discusses some of what happened to that bill. I don't believe this is the only reason the bill never came to a vote but it does show fault was on both sides of the isle.

    http://www.examiner.com/x-2547-Watc...acs-selfinvestigation-of-lobbying-accusations

     
  2. Revmitchell

    Revmitchell
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    And so we know that it wasn't deregulation but the whole system. And the lack of any perceived needed regulation was refused by those who are blaming deregulation now.
     
  3. LeBuick

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    I didn't see "wasn't deregulation" in this article.

    It also appears the guardians were bought out with tax dollars since that's what Freddie has. This article points to Republican's but my gut says Democrats equally took the bait with the aggressive and defensive response they made toward change.

    No bill will do any good unless it comes to a vote and this article illuminates how the hill works and why this bill wasn't brought to a vote. To say the GOP talked about fixing the system means nothing if they sold their soul's along the way.
     
  4. Revmitchell

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    Your use of the "GOP" is to broad a brush. But as I posted earlier it was GOP members who called for hearing and suggested there was a potential for a bigger problem if left unattended. You do not need to rely on your gut to know that Dems was part of this. It is right there in the video I posted. And we know that Dems were the biggest receivers of funds from them.

    And while McCain received some funds from them as well he was one of the biggest clarion calls out of all of them.
     

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