Old Rick

Senator Dodd Revamps Paulson’s Bailout Plan

I'll post this again for those of you (User 241381) who want to blame this all on W. Take a look at Senate Bill S.190 of 2005-06 where Chuck hagel, Liddie Dole, and John McCain introduced a bill that tried to rein in the destructive habits of Freddie and Fannie. It's instructive to read John McCain's floor speech on the bill. The bill died in the very committee where the bailout plan now sits and where Chris (friend of Angelo) Dodd was ranking minority. It was chaired by Repubs at the time, but Frank Raines and Jim Johnson spread enough cash around to kill the bill in commitee. Bush and McCain (and many but not enough Repubs) supported the bill but it was almost universally opposed by Dems including Barry who now has Frank and Jim on his "economic team". Take a look at which pols got the bucks from Fannie/Freddie.