On Wed, 17 Sep 2008 11:09:38 -0600, "redbard"
wrote:

Just after Obama revealed his 6 point plan for increased regulation of the
financial sector the stock market decline continued with fervor.

Nancy Pelosi says Dems are not to blame for the economic mess, yet weren't
they supposed to take charge and make things better when they gained the
majority? The "do-nothing" Congress? Obviously Nancy isn't leading the way.
Obama doesn't show much leadership potential either.

If the Democrats were supposed to accomplish so much in the first 100 days,
why have they done so little for 700 days?

They had their turn and things aren't getting better.




http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B 63&sec=&spon=&pagewanted=print

For those not interested in reading all, I'll just copy my favorite
parts. This in 2003:


Significant details must still be worked out before Congress can
approve a bill. Among the groups denouncing the proposal today were
the National Association of Home Builders and Congressional Democrats
who fear that tighter regulation of the companies could sharply reduce
their commitment to financing low-income and affordable housing.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing
any kind of financial crisis,'' said Representative Barney Frank of
Massachusetts, the ranking Democrat on the Financial Services
Committee. ''The more people exaggerate these problems, the more
pressure there is on these companies, the less we will see in terms of
affordable housing.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving
something from one agency to another and in the process weakening the
bargaining power of poorer families and their ability to get
affordable housing,'' Mr. Watt said.