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Politics : The Trump Presidency

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To: zzpat who wrote (82704)	7/11/2018 2:09:08 PM
From: pcstel	Read Replies (1) of 353902

"Do you think Frank had the power to stop a bill in the Senate? If not, why wasn't it passed by a republican majority? and why didn't they even try to pass it?" ¿¿¿¿¿¿¿¿¿¿¿¿¿ Ya just don't get it. They teach this stuff in Elementary School.. There was no "bill" in the Senate, there was no "Bill" in the house. The Democrats in the Committee would not support the "Bill" to impose a regulator to oversee the transactions of these GSE"s. The GSE's were "private companies" with a US Treasury checkbook. The more checks they wrote. The bigger their bonuses were and more profits they made and the higher their stock portfolio rose in value. Seems like a dangerous concoction? Especially when they decided that there were even higher profits and bonuses in the sub-prime markets. Bush and the Republicans tried on multiple occasions to get legislation passed this Committee to pass a law to transfer these GSE's under the Treasury Dept. for oversight of their lending practices. The Democrats wanted no part of it. So the GSE's kept writing US Treasury Checks all the way up until the Bubble Broke. Then the US Taxpayer took the loss.... PCSTEL

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