Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Kenneth E. Phillipps who wrote (82765)	4/20/2010 8:13:34 AM
From: JakeStraw	Read Replies (1) of 224724

Fannie and Freddie Amnesia online.wsj.com Taxpayers are on the hook for about $400 billion, partly because Sen. Obama helped to block reform. One chapter in this story took place in July 2005, when the Senate Banking Committee, then controlled by the Republicans, adopted tough regulatory legislation for the GSEs on a party-line vote—all Republicans in favor, all Democrats opposed. The bill would have established a new regulator for Fannie and Freddie and given it authority to ensure that they maintained adequate capital, properly managed their interest rate risk, had adequate liquidity and reserves, and controlled their asset and investment portfolio growth. As a senator [Obama], he was the third largest recipient of campaign contributions from Fannie Mae and Freddie Mac, behind only Sens. Chris Dodd and John Kerry.

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