Anyone else outraged over House and Senate politicians who fell asleep while FANNIE MAE went bankrupt?

Who had been in charge from 1995-2006?
Hint it was not the Dems
Senate Banking Comittee
Members- Republican total-11
Richard Shelby (Ala.), Chairman
Robert Bennett (Utah)
Wayne Allard (Colo.)
Mike Enzi (Wyo.)
Chuck Hagel (Neb.)
Rick Santorum (Pa.)
Jim Bunning (Ky.)
Mike Crapo (Idaho)
John E. Sununu (N.H.)
Elizabeth Dole (N.C.)
Mel Martinez (FL)

Members Democrat total-9
Paul S. Sarbanes (Md.), Ranking Member
Christopher Dodd (Conn.)
Tim Johnson (S.D.)
Jack Reed (R.I.)
Chuck Schumer (N.Y.)
Evan Bayh (Ind.)
Thomas R. Carper (Del.)
Debbie Stabenow (Mich.)
Robert Menendez (N.J.)

They only needed a simple majority for the bill to go to the floor
While McBush loves to talk about how he tried to have regulations changed re: Fannie and Freddie, most people have taken his LIES at face value
Chuch Hagel, Elizabeth Dole and John Sununu wrote the legislation
It went to committee. They had the votes because Pubs were in charge fo the committee

It was shelved for 2 reasons:
1) they pushed it aside for the all heralded energy policy. Then after that, they lost control of Congress
2) the changes that were to be made would not have improved the problem it would have made it worse. Both the Senate and House versions of the bills would have weakened if not removed altogether the regulations that were in place
AEI, a conservative think tank stated that passage of these bills would have been disastrous and that the " reform" is worse than the current law
http://www.aei.org/publications/pubID.22...
Heck Dubya recognized that one ( gee what a surprise!)
http://www.presidency.ucsb.edu/ws/index....
3) MOST IMPORTANTLY JOHN MCCAIN DID NOT SIGN ONTO THE BILL UNTIL AFTER IT DIED IN COMMITTEE
DIED JUNE 2005
MCCAIN SIGNED ON MAY 25 2006 - 11 months later
http://thomas.loc.gov/cgi-bin/bdquery/z?...
Hypocrite that he is, he has inflated his importance in the legislation not a surprise though

Barney Frank really has no excuse because he sits on the Finance Committee with Ron Paul who has been shouting warnings of this from rooftops - and badgering Greenspan then Bernanke about it - for a long, long time. It would be one thing to say that because Keynesian economics (Bernanke/Paulson) predicted one thing, and Austrian School economics (Ron Paul) predicted what happened, before the fact they believed Bernanke and Paulson. It is quite another to vote for the bailout after they saw come true precisely what the Austrian School had predicted, and Austrian economics (and Ron Paul) made it clear the bailout would both stick main street with wall street's problems AND turn a one year recession into a decade(s) long depression.

Here is Ron Paul's speech before the bailout if you didn't see it: http://www.youtube.com/watch?v=YBVB1Uc0n...

Vote out anyone who voted for the bailout.

For President, that means voting third party (or in states where you can, for Ron Paul.)

You got that right. Barney Frank has some real explaining to do. I love this film clip with Congresswoman Maxine Waters, singing Franklin Raines' praises; our government is pathetic. Our news media needs to wake up....

http://www.youtube.com/watch?v=7h00DsC9-zI

They are getting away with murder. The politicians are not in touch with the people and the problems!

They were elected to look out for regular people. Then they are elected and become UNABLE to do what is right.The President has an excuse, he is just dumb. He just now found about the financial situation in the U.S! Or just now admits to it.

Obama is going to get this country in the worse state it has been in, and people are going to expect him to fix 8yrs it took to get us here, right away.

They did not fall asleep. They were fully aware of it, but were too greedy and busy lining their pockets.

I think that the CEOs and those politicians who spoke against the regulation should have all of their assets seized and put into the pot.

I have ask my representive why the democrats were fighting so hard to push a bill that bush asked for when the democrats have hated him since 2000. i have to assume that they worked so hard to pass this bill in order to keep these people out of jail.

I am not voting for any one up for re election. one term only

personally i think everyone of them form bush to every politician who voted for the bailout down to the executives should all be tried for treason, their actions will destroy America as we know it

Gov. is not smart

I am with you sister! I too am livid!