I continue to get a laugh out of the GOP efforts to absolve themselves of their own responsibility for this mess.
So which bill was it?
HR2803? Nope - stuck in committee.
HR2117? Nope - stuck in committee.
HR3071? Nope - stuck in committee.
S1508? Nope - stuck in committee.
S 1656? Nope - stuck in committee...Oh wait! This is related to 1508, and was introduced by one of those evil Dems!
Maybe I misread 2003 and it was really S190 from 2005. Well, no - that was introduced by Hagel, but then shut down by GOP lobby group DCI.
So which bill got killed by the DNC?
Subprime loans have been around a lot longer than either of us, and they will never go away despite this mess.
Fannie and Freddie did not bundle the bad loans in with the good and sell them as low risk assets. The unregulated banks, thanks to the GOP and Clinton, did. Even Greenspan has said that this is what has caused the mess.
No crime was committed because none of it was against the law.
The bankers made their money and then just passed the responsibility for the bad loans on to somebody else - and those somebodies are all the taxpayers who are now bailing out the banks and the homeowners who tried (and succeeded it looks like) to get something for nothing..