Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
the economy? BANKING AND FINANCIAL SERVICES!
Unemployment to this CRISIS by dumping 5-6 TRILLION Dollars of toxic loans
on the economy from YOUR Fannie Mae and Freddie Mac fiasco’s! (BTW: Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001, because it was financially risky for the U.S. economy, but no one was listening).
Then we have THIS!
This is sheer genius
In a bid to stem taxpayer losses for bad loans guaranteed by
federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because,as Senator Chris Dodd (D-Conn) explained,
"passage of such a requirement would restrict home
ownership to only those who can afford it."