This Legislation Would Let Government Take Over U.S. Mortgage Market

heritage ^ | april 8, 2014 | nobert Michel

[lowbridge]

Even worse, the U.S. Senate is poised give us Fannie–Freddie 2.0 in the new housing reform bill that Senators Tim Johnson (D., S.D.) and Mike Crapo (R., Idaho) have released.

The Johnson-Crapo bill would wind down the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, but would also replace them with a new government agency that expands the federal government’s grip on the housing market. If the Johnson-Crapo housing bill is adopted, the federal government will have effectively taken over the U.S. mortgage market.

[Secret Agent Man]

fascism. as a veneer for socialism. transitory step inot fullblown socialism.

[E. Pluribus Unum]

Sounds like a bunch of Crapo to me.

[jurroppi1]

I believe Johnson-Crapo is what happens to homosexual men after intercourse.

[Safrguns]

Translation: CASH SALES FOR HOMES ONLY!

[I want the USA back]

Ultimate goal is complete takeover of everything.

[cuban leaf]

Why not add a little socialism to our fascism.

[Navy Patriot]

If you like your house and mortgage, you can keep them, ....just as long as you keep electing DemoRats.

[TurboZamboni]

Doesn’t gubmint already own 90+% of existin home loans now?

[Red Badger]

All you houses are belong to us!.......................

[Amendment10]

Please note that the delegates to the Constitutional Convention had decided against granting banking powers to Congress.

“A proposition was made to them to authorize Congress to open canals, and an amendatory one to empower them to incorporate. But the whole was rejected, and one of the reasons for rejection urged in debate was, that then they would have a power to erect a bank (emphasis added), which would render the great cities, where there were prejudices and jealousies on the subject, adverse to the reception of the Constitution .” —Jefferson’s Opinion on the Constitutionality of a National Bank : 1791.

And regardless that FDR's activist justices gave the green light to a Democratic-controlled Congress to overstep its Commerce Clause powers in the 1940s, a previous generation of Constitution-respecting justices had officially clarified that the states have never delegated to Congress, via the Constitution, the specific power to regulate intrastate commerce, the intrastate housing market the example of this thread.

”State inspection laws, health laws, and laws for regulating the internal commerce of a State, and those which respect turnpike roads, ferries, &c. are not within the power granted to Congress. (emphases added)” —Gibbons v. Ogden, 1824.

[Lmo56]

Crapo - an appropriate name for this bill ...

[RicocheT]

Fannie Mae and Freddie Mac do have past and present issues, but this replacement by a federal mortgage agency is even more Crapo.

[SunkenCiv]

Thanks lowbridge.

> Senators Tim Johnson (D., S.D.) and Mike Crapo (R., Idaho)