"No, I am definitely not wrong. Democrats were in the minority and could not move any legislation forward, ONLY the Republicans could but they chose not to....."
Revising history a little is one thing, danni, but outright lies are another. We're going to have to get Bob Woodward after you like he did Barackus Caesar if you don't straighten up with the truth. Now EVERBODY knows he recommended the sequestration and lied and now we know YOU lied in that post.
"New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003
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The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates."
AND...if you don't like to read, there's lots of video evidence as well.