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10-28-2008, 02:10 PM #15
OPSenior Member
Welcome to socialism, boys and girls...
Again...no mention about the dems shooting-down the bill McCain co-sponsored. (by not bringing it to the floor for a vote) You don't seem interested in accuracy, so here's a recap of the bill:
Originally Posted by maladroit
The overview of S. 190 (109th):
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005 (GovTrack.us)
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.
S. 190 [109th] - Summary: Federal Housing Enterprise Regulatory Reform Act of 2005 (GovTrack.us)
Accounting reforms, huh...? Sorry...I don't just roll-over and play stupid.
I'd rather cheerlead for those policies I deem important, than blindly follow a false prophet to the edges of Chicago. Parroting the blogs, avoiding intelligent discourse with blind attacks, inuendo and as you put it...hate.
Originally Posted by allrollsin21
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