WASHINGTON -- The Federal Housing Finance Board can't win for losing. The little-known agency, which regulates the Federal Home Loan Bank System, is once again in the middle of a congressional spat that had the effect of denying it the quorum it needs to do business. It has not been able to muster a quorum for more than a year now. Two nominees -- former Rep. Bruce Morrison, D-Corm., and lobbyist Timothy O'Neil -- came close to winning Senate confirmation this year. But they fell victim to the long memory of Sen. Phil Gramm, R-Tex., who placed a hold on Mr. Morrison.
It seems that in 1982, then-Rep. Morrison was one of 57 freshman Democrats who voted against reappointing Sen. Gramm -- then a Democratic member of the House -- to the budget committee.