What legislation did Republicans try to pass to prevent the Great Recession?

"After the GOP lost control of Congress, then the GOP was not able to pass legislation that could have prevented the crash."





What was this magic bill? How come I haven't heard of it? Surely there's a record of it.|||They didn't pass any legislation. Nor did they propose any legislation. There's no record of such a thing because it never occurred...


BTW: your question makes perfect sense.|||In 2003 the Republicans tried to put in legislation to create an agency to to assume supervision of Fannie Mae and Freddie Mac.





The new agency would have had the authority, which rested with Congress, to set one of the two capital-reserve requirements for the companies. It would have exercised authority over any new lines of business. And it would have determined whether the two are adequately managing the risks of their ballooning portfolios.





Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. said ''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,''


And: ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''





Well, time did tell did it not?|||You can find out more by searching YouTube (Fannie Mae or Freddie Mac) . There you can find all sorts of things the Republicans tried to do but were blocked by Democrats like Barney Frank and Chris Dodd. You see the Republicans never had a super majority like the Democrats have enjoyed recently.





As far back as 2003 (maybe even further) Republicans and whistle-blowers were saying there were major problems with Fannie and Freddie. And you can see AND hear what the Democrats were saying about what a great job they were doing. And Republicans were just fear mongering.





Oh the reason you haven't heard about it. *G* You had beans in your ears.|||The crash was unpreventable at that time. The real-estate bubble was going to burst and take the financial sector with it.





Now, we can look at facts and recognize that prior to that time, there were a lot of Democrat and liberal Republican shenanigans that contributed to the bubble and collapse. I'd go into it, but I already know that you are only interested in attacking Republicans. You don't care for the truth if it does not fit your political world-view.|||They tried to bring the housing bubble and the precarious position of Fannie and Freddie to the attention of congress and they got shouted down by socialists.





I don't blame them for doing it but, as we have seen, they didn't fight hard enough. They succumbed to the Democratic party and it's war funding extortion.





Consequently, I will vote in opposition to every single incumbent regardless of party.


Grid-lock would be an improvement over what we have now.|||Bush tried 13 time to regulate Fannie and Freddie which would have prevented the mortgage meltdown and our current economic situation.Funny thing Democrats were against more regulation every time!





http://www.youtube.com/watch?v=_MGT_cSi7鈥?/a>





Also when Democrats took control of both houses unemployment and GDP were at 4%! What was there to do at that point?!|||the legalizing of wide stances in men's rest room act. it was designed to make republicans use public facilities more, and them being out of their parent's basements, they were sure to spend a little money, like on fast food or adult marital aids, to help stimulate the economy. but democrats just chucked over their effort.|||They started trying to regulate Fannie Mae and Freddie Mac as far back as 2001 but as you can see in the vid, Barney Frank and the Dems whined so much they couldn't get it passed.





http://www.youtube.com/watch?v=cMnSp4qEX鈥?/a>





Here's an article in the NYT from 2003 with yet another attempt.





http://www.nytimes.com/2003/09/11/busine鈥?/a>





I hope this answers your question but I know, the cognitive dissonance will prevent your absorption of reality.|||they had none... Bush's warnings were under GOP control...





frankly put, they didn't want the gov. to get involved and wanted to let the market correct its self...





well, that correction is called the recession we have today... YAY!|||Their was this one: http://www.freerepublic.com/focus/f-news鈥?/a>|||They said they weren't able to pass legislation, that's not the same as having any ideas.... muahahaha!|||Your question really doesn't make any sense. You start off one direction and then veer off in another|||George Bush tried to warn democrats and to fix it but they ignored him