Man, oh man. This just gets worse and worse. The more I tried to prove that Barney Frank is completely responisble for the economic crisis, the more I proved it was actually the republicans. Geez, that sucks. It turns out that the senate bill that would have limited Freddie and Fannie's leverage never made it out of committee. Surely it was some legislative trick by the democrats that kept it from going to the floor for a vote but alas no such trick exists. With a 55 seat majority in the senate, the republicans could have brought it to the floor for a vote anytime they wanted. And get this, Barney Frank was in the house not the senate. Its hard not forget that the house actually passed a bill because its never mentioned. Now this Senate bill may not have prevented the crisis as it did not deal the underlying cause (poor lending standards) but it would surely have limited the magnitude.
I dont want to say Republican Chairman of the House Financial Services Committee Mike Oxley is telling the truth when he blames W and Greenspan for killing the bill but I am really running out of options on what to beleive. Quick! Somebody post some doctored photo of Obama so I can get my mind right and go back to blaming the democrats.
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