Who did what and when?
The Senate Banking Committee, then under Republican control, adopted much stronger legislation in 2005, but unanimous Democratic opposition to the bill in the committee doomed it when it reached the floor.Without any significant Democratic support, debate could not be ended in the Senate, and the bill was never brought up for a vote.
This was a crucial missed opportunity.
The bill prohibited the GSEs from holding portfolios of mortgages and mortgage-backed securities (MBS); that measure alone would have prevented the disastrous investment activities of the GSEs in the years that followed.
You could have found this out on your own, IF you REALLY cared to learn the truth.