<a href="http://www.govtrack.us/congress/billtext.xpd?bill=s109-190">Make sure you read the entire bill.</a>
While the Democrats should be shamed for not over coming bipartisanship and come up with a compromise on this bill, the Republicans should be shamed for producing a bill that abolishes OFHEO and the Federal Housing Board. If the parties could stop and think for themselves, and not their party's agenda line, then this bill would have made sense. Unfortunately the arrogance of both sides allowed for this bill to fail.
It is also a shame that Fannie and Freddie Mae[sic] are being blamed for this. As can be seen <a href="http://bigpicture.typepad.com/comments/2008/10/who-were-the-le.html">here</a>, <a href="http://bigpicture.typepad.com/comments/2008/10/goal-increase-m.html">here</a>, <a href="http://bigpicture.typepad.com/comments/2008/10/quote-of-the--1.html">here</a>, <a href="http://bigpicture.typepad.com/comments/2008/10/misunderstandin.html">here</a>, <a href="http://bigpicture.typepad.com/comments/2008/10/fannie-mae-and.html">here</a>, <a href="http://bigpicture.typepad.com/comments/2008/10/misunderstandin.html">and here</a>.
I know there is another great rant by Barry that is missing from my links, but hopefully I will find it. Until then, the gist was...
Anyone who blames Fannie and Freddie or the CRA for this mess is completely out of touch with the reality of this mess, or they are politically pandering. Either way, the ignorance is truly staggering to blame Fannie and Freddie. Yes, they played a part, but they were not solely responsible.
