Rep. John Mica on Fannie/Freddie Special Prosecutor

Reader Comments
Back to blog

I forgot to add that the amendment above pertained to H.R. 4635, and that the No vote by John Mica clearly indicates culpability on his part as well.
The "buddy-buddy thing" John Mica mentions also extends to himself, and his actions now seem quite hypocritical given his own rejection of additional funding for increased oversight back in 2000.

Sayjereese of FL 7:56PM October 29, 2008

I believe that the critical Congressional vote that ultimately led to the GSE’s requiring a government bailout was the defeat of H.A. 845.
H.A. 845 called for an increase funding for the Office of Federal Housing Enterprise Oversight by $4.7 million.
John Mica voted NO on this additional oversight which was sought in June of 2000.
Though I applaud the investigation into the activities of and role that the GSE’s played in the problems that led to the financial crisis but it is hard to imagine that the GSE’s could possibly be the lynch pin of a crisis of such magnitude. The GSE’s are just one variable, perhaps a disproportionately large variable, in an equation that has quite a number of variables. The timing of the Republicans’ call for an investigation, coinciding, as it does with election season, appears, at best, as politics as usual and, at worst, disingenuous.

Sayjereese of FL 7:42PM October 29, 2008