FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005

Senator John McCain:

"For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, 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.

I urge my colleagues to support swift action on this GSE reform legislation."

GovTrack.us. S. 190--109th Congress (2005): Federal Housing Enterprise Regulatory Reform Act of 2005, GovTrack.us (database of federal legislation) (accessed Sep 16, 2008)


http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s1...

Comment: In 2006, Senator John McCain had the foresight to reform Fannie Mae and Freddie Mac. Unfortunately, the Congress didn’t pass this law and now we have the sub prime mortgage crisis and most recently, the Wall Street meltdown.

Plato

By Plato on Sep 16, 2008, 14:03 in Off Topic.

august says on Sep 16, 2008, 14:05: Interesting, but the connection to Colombia is not immediately clear. 0 funny, 0 helpful.

Plato says on Sep 16, 2008, 14:06: Sorry - I tried to put this in the Off topic section. It didn't work. Plato The hottest places in hell are reserved for those [liberals] who, in time of great moral crisis, maintain their neutrality.--Dante Alighieri, (1265-1321) 0 funny, 0 helpful.

sloopskipper says on Sep 18, 2008, 08:37: Wow, from the star of the Keating Five scandal! http://www.phoenixnewtimes.com/1989-11-29/news/mccain-the-most-reprehe... Seems that some people think "everybody's outa step but me". 0 funny, 0 helpful.

dwmte7 says on Sep 28, 2008, 17:22: wow, sloop...you made my day...what a nice, very unpleasant read. don't ya just love the guy? patriarch 0 funny, 0 helpful.

More posts by the same author:

From Plato 33

Back in Black - Nuf said. 20

On Self-Defense 1

Check this out: Olympic Weightlifter Turns Elbow Back To Front 2

Cheating Girlfriend caught by Webcam 5

About the Colombian Sombrero Vueltiao 8

An Invitation: 4

A Poltical Cartoon on Senator Barack Obama and his Wife 33

Ms. Universe 2008 30

Hey!! Say hello to my little friend!!!!! 8

Runaround Sue by Dion - 1961. 121

GREASE A LO PAISA! 2

Colombians in the USA 29

Obama’s cunning capture of the centre ground 2

Obama Flip-flops on his Iraq Exit Strategy 2

Colombia's Credit Rating Raised to Ba1 by Moody's (Update2) 3

Court Strikes Down D.C. Gun Ban, Affirms Second Amendment Rights 20

Wassup with the edit feature? 14

Steriod Rage 36

Viva Arizona!!!!!!!! 2