Originally Posted by cykoe6

McCain cosponsored the bill which would have placed portfolio limits on Fannie and Freddie limiting the amount of mortgage paper they could hold. If the bill had passed and the portfolio limits had been implemented then they would not have collapsed. The bill was blocked by party line opposition by the Democrats in the Banking committee headed by Dodd (while Dodd was getting sweetheart loans from Countrywide and huge campaign contributions from Fannie and Freddie). I guess if the left is unable to face the uncomfortable facts regarding the nature of this crisis they will just try and muddy the waters.