Dems Vote Down Fannie-Freddie Reforms
by Connie Hair

06/10/2010

The Democrats’ overhaul of the banking system goes to conference this afternoon to hammer out a compromise between the two bills passed by each chamber.

Neither bill addresses an overhaul of Fannie Mae and Freddie Mac -- the two entities at the very heart of the financial meltdown -- rendering any claim that the Democrats’ bill fixes what ails the banking system laughable.

In their third attempt to offer spending cuts on the House floor through procedural maneuvers voted on by members of the public, Republicans offered a YouCut proposal yesterday to reform Fannie and Freddie. Democrats voted it down (names at the link).

“By rejecting [yesterday's] YouCut proposal to reform Fannie Mae and Freddie Mac, House Democrats make a mockery of their claims to be serious about financial reform and stopping taxpayer bailouts,â€