[MadMax, the Grinning Reaper]

Please don’t provide facts for the Democrats and liberals. They live in a world where “facts”, documentation, and the “truth” don’t exist.

It is known by two names “Denialland” and “Marxism”.

Thanks for trying.

[PGalt]

Very good post. Thanks, and thanks to Pam at atlasshrugs.

[MHGinTN]

A cogent summary. With your permission I will ping a few folks to this most excellent read.

[nutmeg]

Excerpt:

...Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

[TheThinker]

The Fannie/Freddie Crisis began when Democrat senators decided to turn these companies into their own personal piggy banks under the guise of helping low income and minority Americans.

Many of these Americans couldn't possibly pay back the money because they were well, low income borrowers. Now we have mortgage defaults and forclosures aplenty.

Now who is going to pay billions for subsidizing Senate Democrats' campaigns?

Take one guess.

[TheThinker]

The Fannie/Freddie Crisis began when Democrat senators decided to turn these companies into their own personal piggy banks under the guise of helping low income and minority Americans.

Many of these Americans couldn't possibly pay back the money because they were well, low income borrowers. Now we have mortgage defaults and forclosures aplenty.

Now who is going to pay billions for subsidizing Senate Democrats' (Obama's, Hillary's and Dodd's) campaigns?

Take one guess.

[TexasCajun]

MeCain should slap Obam_Ahhh around pretty good in the debates with this.

Let's hope our side gets some air-time and print-time from Big Media so they can't just parrot democrat talking points.

[SuziQ]

What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets...
Different World If that bill had become law, then the world today would be different...
But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

OK, I'm confused. Did the bill get out of the Banking Committee, or not? If it didn't, it wouldn't even have had the chance to get tot he floor of the Senate to be voted up or down.