molson_golden2002 Posted October 19, 2008 Share Posted October 19, 2008 http://news.yahoo.com/s/ap/20081019/ap_on_...ce_game_housing WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September. Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it. In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote. "If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient. Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side. Link to comment Share on other sites More sharing options...
Bishop Hedd Posted October 19, 2008 Share Posted October 19, 2008 http://news.yahoo.com/s/ap/20081019/ap_on_...ce_game_housing Remember that movie "Scandal" about the UK Profumo situation back in the early sixties. Man Bridget Fonda's arse cheeks! Link to comment Share on other sites More sharing options...
TPS Posted October 20, 2008 Share Posted October 20, 2008 http://news.yahoo.com/s/ap/20081019/ap_on_...ce_game_housing The hits just keep coming for the GOP... More voter fraud Link to comment Share on other sites More sharing options...
stuckincincy Posted October 20, 2008 Share Posted October 20, 2008 http://news.yahoo.com/s/ap/20081019/ap_on_...ce_game_housing ..."Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it. In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote. "If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient."... I highlighted the salient point for you... Link to comment Share on other sites More sharing options...
finknottle Posted October 20, 2008 Share Posted October 20, 2008 I highlighted the salient point for you... I think he needs to wipe the windows on his glass house. What this really confirms is the Obama-friendly spin of the media. The article glosses over the fact that all of the Democrats opposed the bill; of the targeted Republicans who stood firm, 5 of 7 lost their re-election bids in 2006 and with them control of the Senate switched parties; and McCain stood firm in supporting the bill. The bottom line is that the Democrats were already in the pocket of FM/FM, while the Republicans wanted more regulation. So FM/FM went after the Republicans by hiring a lobbyist firm with close ties to twist their arms and threaten if neccessary. The only surprise here is that they didn't find it neccessary to target any Democrats. This isn't a Republican scandal, it's a Democrat scandal. Link to comment Share on other sites More sharing options...
blzrul Posted October 20, 2008 Share Posted October 20, 2008 ..."Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it. In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote. "If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient."... I highlighted the salient point for you... But since the GOP controlled the Senate they also had the majority on the committee. And it doesn't say it was killed in committee. Another one of those Grecian-formula-patent-haired Repigs (multi-millionaire too I might add, must be a plumber) refused to let it be heard and voted upon. Link to comment Share on other sites More sharing options...
Wacka Posted October 20, 2008 Share Posted October 20, 2008 WTF is a scandle???? Link to comment Share on other sites More sharing options...
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