Really, it was the people who caused the problem? Have you ever qualified for a loan? Now, it's the people who forced the lending institutions to make bad loans. If I ever want you to agree with me, all I have to do is take a stance opposite the one I want you to take. You've been on both sides of this issue. Decide where you stand.
On Oct 2, 2:44 am, Gaar <[EMAIL PROTECTED]> wrote: > No Sarge, these measures were needed after nearly a Decade of > abuses... > > It wasn't the new Regulations that destroyed them, it was the people > trying to get Loans for people who couldn't afford them. > > On Oct 1, 9:31 pm, SgtUSMC <[EMAIL PROTECTED]> wrote: > > > > > Here are the facts. Let's Review: > > > In 2004/early 2005, a Bill captioned, the "Federal Housing Enterprise > > Regulatory Reform Act" of 2004/2005, sponsored by Republicans, .John > > McCain, > > Elizabeth Dole, John Sununu, and Chuck Hagel, was put before the > > Congress. > > The Bill was blocked, by the Democrats in the Senate, and the majority > > of > > Democrats in the House of Representatives. > > > http://www.govtrack.us/congress/bill.xpd?bill=s109-190 > > > The summary of the Bill, written by Congressional Services: > > > 1/26/2005--Introduced. > > > Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the > > Federal Housing Enterprises Financial Safety and Soundness Act of 1992 > > to > > establish: (1) in lieu of the Office of Federal Housing Enterprise > > Oversight > > of the Department of Housing and Urban Development (HUD), an > > independent > > Federal Housing Enterprise Regulatory Agency which shall have > > authority over > > the Federal Home Loan Bank Finance Corporation, the Federal Home Loan > > Banks, > > the Federal National Mortgage Association (Fannie Mae), and the > > Federal Home > > Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing > > Enterprise Board. > > Sets forth operating, administrative, and regulatory provisions of > > the > > Agency, including provisions respecting: (1) assessment authority; > > (2) > > authority to limit nonmission-related assets; (3) minimum and > > critical > > capital levels; (4) risk-based capital test; (5) capital > > classifications and > > undercapitalized enterprises; (6) enforcement actions and penalties; > > (7) > > golden parachutes; and (8) reporting. > > Amends the Federal Home Loan Bank Act to establish the Federal Home > > Loan > > Bank Finance Corporation. Transfers the functions of the Office of > > Finance > > of the Federal Home Loan Banks to such Corporation. > > Excludes the Federal Home Loan Banks from certain securities > > reporting > > requirements. > > Abolishes the Federal Housing Finance Board. > > > ========== > > > Now you're getting someplace. This was the major problem. They took > > deregulation way too far. Before, it had hurt the economy. We saw that > > but, no one wanted to do anything about it. These bills in 2004 & 2005 > > took us over the edge. Foreclosures were imminent.- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
