Reply #7: In addition, here is the truth about the bill she referenced twice

[karynnj]

as McCain acting to regulate Freddie and Fannie:

McCain actually signed onto S190 on 5/26/2006. That bill was originally introduced on 1/26/2005 by Senator Hagel with Senators Sununu and Dole as co-sponsors. That bill was sent to the Republican controlled Banking committee, where it passed on 7/28/2005 but was never considered by the full Senate. McCain signed onto a bill that had been dormant for 10 months and gave that speech on the floor of the Senate. He then did nothing further to support it and no one else signed on as a co-sponsor.

Representatives Frank and Oxley supported a bi-partisan bill, sponsored by Baker, with stronger regulation of these companies (HR 1461) that passed 331 to 90 in the House on 10/26/2005. It was then referred to the Senate, where it went to the Banking Committee.
"Senate Democrats picked that bill up and offered it, but the Administration opposed that legislation. According to Mr. Oxley, the White House gave Congress and the GSE reform legislation "a one-finger salute."

* "We missed a golden opportunity that would have avoided a lot of the problems we're facing now, if we hadn't had such a firm ideological position at the White House and the Treasury and the Fed," Mr. Oxley says."
( http://www.zibb.com/article/4043921/FACT+CHECK+BUSH+ADMINISTRATION+S+TRACK+RECORD+OF+DEREGULATION - this is another good source with lots of links)

The Banking Committee considered S190 instead and it was passed out of committee, but never put up for a vote. (Here is an article that speaks of why the Democrats voted against S190 - http://www.allbusiness.com/government/532756-1.html The committee vote was 7/28/2005. So, the Republicans went with a partisan bill when the Democrats had agreed to the bi-partisan House bill - and Bush was against the Bipartisan bill.

The bill was reintroduced by Hagel, Sununu, Martinez and Dole (no McCain) on 4/12/2007 and it again went nowhere.

That speech and the co-sponsorship of a dormant bill are cited by the McCain campaign as proof of his efforts to regulate because it is the only thing they have.

So, it is technically true he did co-sponsor a bill - when it was dead - and he did give a speech in the Senate.

This is more typical of the Bush attitude on regulation.

http://www.nysun.com/business/bush-official-sees-moral-hazard-in-regulation/53364/