Hard times
June 17, 2010 | federal legislation, industry | Comments (0)At least according to Politico:
Democrats accused Republicans of stalling. Republicans said Democrats were overlooking a real financial catastrophe.
As Day Two of the Wall Street reform conference debate dragged on, partisan bickering underscored just how tough it would be to finish the bill by July 4.
Republicans infuriated the two top Democrats on the committee — Sen. Chris Dodd and Rep. Barney Frank — by criticizing Democrats for failing to use the financial reform bill to also reform mortgage giants Fannie Mae and Freddie Mac.
Rep. Spencer Bachus of Alabama, the ranking member on the House Financial Services Committee, said leaving the government-sponsored enterprises untouched is “like fighting terrorists without attacking the jihad movement.”
At one point, Frank, the House Financial Services Committee chairman, looked at Bachus and said, “I know people who don’t like financial reform would like to degrade the whole process.”
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