Link
Some are trying to blame the repeal of the Glass-Steagall Act on the Republicans. A little history. Leach, one of the sponsors, (Gramm-Leach-Bliley Act) recently spoke at the Democratic convention. President Clinton signed the bill in 1999. "The final bill resolving the differences was passed in the Senate 90-8-1 and in the House: 362-57-15".
In addition, Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee pushed lenders to give loans to people who did not qualify. "He encouraged the companies to guarantee more "affordable" mortgages, thus abetting their disastrous plungeintosubprime and Alt-A loans. He also pushed for, and got, an increase in the conforming-loan limits to allow Fan and Fred to securitize and guarantee larger mortgages. And he pressured regulators to ease up on their capital requirements -- which now means taxpayers will have to make up that capital shortfall." - WSJ
Saturday, September 20, 2008
Subscribe to:
Post Comments (Atom)
Posts
4 comments:
I would really like to know who those 8 senators and 57 representatives were, they must be really smart...we need more people like that in the House and Senate...can you give a list of those people?
I can see how many Democrats would vote for cheaper access to housing, sounds on the surface liberal, ...however the fact that Republicans supported this bill should have been a signal to the Democrats that this was just another bill to screw the middle classes and help the wealthy class.
I'd really like to know who the smart Democrats were, the 8 in the Senate and 57 in the House can you give that list? I'm curious to know if Feingold and Kucinich were in that list?
http://www.govtrack.us/congress/vote.xpd?vote=s1999-354
Those voting No Vote:
No Vote AZ McCain, John [R]
Those voting Nay:
Nay AL Shelby, Richard [R]
Nay CA Boxer, Barbara [D]
Nay IA Harkin, Thomas [D]
Nay MD Mikulski, Barbara [D]
Nay MN Wellstone, Paul [D]
Nay NV Bryan, Richard [?]
Nay ND Dorgan, Byron [D]
Nay WI Feingold, Russell [D]
Some Voting Aye:
Aye CA Feinstein, Dianne [D]
Aye CT Dodd, Christopher [D]
Aye CT Lieberman, Joseph [I]
Aye DE Biden, Joseph [D]
Aye MA Kennedy, Edward [D]
Aye NV Reid, Harry [D]
Aye NC Edwards, John [D]
BTW, McCain voted nay on the bill before the Conference Report.
Post a Comment