I keep hearing it's the democrats fault that the economy was fine until they took control. So what is it that they did to cause the economy to tumble?Just curious. What major legislation has the democratic controlled congress been able to get President Bush to?None. They don't have a veto-proof majority. Bush vetoes any worthwhile legislation. He didn't veto a single bill during the first 6 years of his presidency nder a repug majority. Look where the rubber stamp congress got us.Just curious. What major legislation has the democratic controlled congress been able to get President Bush to?They really didn't do anything. Fannie Mae and Freddie Mac were already beginning to tumble about two years ago. John McCain officially warned the head of the finance committee and others (including Pres. Bush) but was ignored. Barney Frank and Chris Dodd are both Democrats...and they ignored it. The whole thing was everyones fault...not because they did anything...but because they did not do anything.Just curious. What major legislation has the democratic controlled congress been able to get President Bush to?The democrats blocked reform and ignored warnings about the status of US banking.
They did however, with help from a number of republicans, get an $850 billion bailout passed. They sent $85 billion to AIG. They sent hundreds of billions to US automakers (the exact amount escapes me at the moment) Those a very major items and will make matters worse for many years to come.Just curious. What major legislation has the democratic controlled congress been able to get President Bush to?
They prevented Bush and McCain from changing the regulations by bogging the bills down in committee.
That was courtesy of Barney Frank.
"These two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of
affordable housing." -Barney Frank, 2005
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