Kevin Hassett of the American Enterprise Institute explains what happened.
His column is titled: How the Democrats Created the Financial Crisis
I heard him being interviewed on the radio, and he said he has received "hundreds and hundreds" of furious emails that are obscene, abusive or both. Some from journalists."...But the bill [S.190] 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.
That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: "It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing...
...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."
They did not refute his facts, they just attacked him for revealing them.
Truth and Clarity are clearly not watchwords of the political Left.
The Gunslinger
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Appropos of perhaps nothing,perhaps all.Was done the same to Whitaker Chambers,i.e.,not refute the facts,just ad hominem attacks (as with Palin assaults-how snotty!).Only ammo they have.Am I the only one to notice the "Big Guns" of the present-day Democratic Party are mostly from itty-bitty states,like,um,Delaware (Biden) or Connecticut (Dodd) or Vermont or Massachusetts (Frank,Kennedy)? Hill followed Bill back to Arkansas in a tactical maneuver,methinks,to get in the DC game via small-time,non-contributing states,to get the foot in the door to Power in DC,then proceed like parasites to enact the Left agenda.Guess I'm a snob of snorts--just I've noticed over the years that with Cali exceptions,these fuck-ups with big political clout are from little states. WTF?
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