Some of the Republicans have been trying to make a point about Fannie Mae and Freddie Mac. Here are the facts on this. The Republicans of course, controlled Congress and especially the House from 1995 until 2006. They never passed a bill to improve the regulation of Fannie Mae and Freddie Mac.
Frank defends his record regarding Fannie Mae and Freddie Mac, pointing out that Republicans failed to regulate them during their time in control.
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The Consumer Financial Protection Bureau may not exercise any rulemaking, supervisory, enforcement, or any other authority including any authority to order assessments over a motor vehicle dealer that is predominantly engaged in the sale…
I do think there is a tendency for an overreach by the FSOC. I do not think straightforward insurance companies or money managers should be covered and regulated as SIFIs.
If you're going to dip your fingers in the Federal till, don't complain if a little democracy rubs off on them.
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