What Republicans tried to do, to avoid this financial meltdown

I just wanted to remind everyone what Republicans tried to do in 2003, to avoid this financial meltdown.

According to this New York Times article, that I referenced earlier, the Bush White House proposed further regulation and oversight of Freddie Mac and Fannie Mae.
Democrats almost reflexively went against it... suggesting additional oversight would make it harder for people with poor credit to get loans. (By the way; its just logical not to loan money to people with bad credit. I have horrible credit, and its that way for a reason.)

I did my homework, and I looked up the bills that were proposed at the time.
If you look here you'll find senate bill 1508. Read the first part. Its says:

TITLE I--REFORM OF REGULATION OF FANNIE MAE AND FREDDIE MAC

That was a bill that Senator Hagel tried to get passed. If you look at the co-sponsors, you'll see McCain's name.

Apparently, the bill floundered in committee.

Here is bill HR 2575 which:

Amends the Housing and Community Development Act of 1992 to transfer supervisory and regulatory authority over specified government sponsored enterprises (Fannie Mae and Freddie Mac) to the Director of the Office of Housing Finance Supervision from the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD) and from the Secretary of Housing and Urban Development.

Requires the Director to ensure that the enterprises operate in a financially safe manner and remain adequately capitalized.

Sounds pretty smart. Doesn't it?

I lost tract of the third bill, but hopefully, you get the point. A bunch of Republicans tried to solve the problem, and they were blocked.

Anyway, I just wanted everyone to remember that as they read the financial news. Particularly when someone suggests that the Republicans don't care, or didn't try to do enough.