@ican711nm,
Quote:
The Senate Republicans did not submit to the whole Senate the motion passed by the Senate committee to rectify Fannie & Freddie, because they knew they would first require the passage of a cloture vote to prevent the bill from being filibustered. They knew they were unable to obtain at least 5 Senate Democrat votes to add to their 55 votes to pass cloture so that they could subsequently obtain a vote by the whole Senate on their motion.
Then that is a failure of the majority to attract Democrats to their bill. They did not negotiate and work with the other side to present a bill which was acceptable. They don't even seem to have attempted to do so.
Therefore it is ridiculous to blame the Democrats, and not historically accurate in the slightest to claim that they are responsible for holding it up. The truth is that many Republicans did not want this bill passed and they just used the Dems as an excuse not to do so.
I would also note two things:
1, that the Republicans failed to pass not just one bill but something like 8 separate bills on this issue over the years when they ran both houses; and
2, as soon as the Democrats took control in 2007, they DID pass this bill and it was signed into law by Bush.
IF the Democrats were so against regulations, then why did they pass essentially the same bill in 2007?
Cycloptichorn