Quote:
Originally Posted by cykoe6
Dodd who was the Chairman of the Senate Banking Committee was taking sweetheart personal loans from Countrywide Financial at the same time Countrywide was unloading billions in junk sub-prime mortgages onto Fannie and Freddie. Coincidently Dodd helped block legislation in 2005 that would have placed limits on how many mortgages Fannie and Freddie could hold. Had that legislation passed the whole crisis would have been avoided.
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Wow, that is crazy. I had no idea that Dodd alone blocked the only legislation that could have ensured "the whole crisis would have been avoided". Where was Bush and McCain, they should have been railing against Dodd for NOT legislating these private businesses! Now we have a socialized insurance company, mortgage company...at least we don't have socialized medicine.