Posted on 09/27/2008 9:05:10 PM PDT by Clintonfatigued
Democrats want to use profits from the bailout as a slush fund for liberal activist groups, even those involved in vote fraud to help elect Barack Obama.
Prior financial bailouts, or "rescues," such as those involving savings and loan failures, and Chrysler, have over time actually made money for the government. It may be the case here as well, as assets bought by the government at bargain prices return to marketable values and are auctioned off.
One of the sticking points in resolving the crisis was a poison pill in the Dodd/Paulson compromise that would move 20% of profits from the bailout into the Housing Trust Fund, a slush fund for political action groups such as ACORN (the Association of Community Organizations for Reform Now) and the National Council of La Raza.
Sen. Lindsey Graham told Greta Van Susteren of Fox News that Democrats had other priorities than just solving this crisis: "And this deal that's on the table now is not a very good deal. Twenty percent of the money that should go to retire debt that will be created to solve this problem winds up in a housing organization called ACORN that is an absolute ill-run enterprise, and I can't believe we would take money away from debt retirement to put it in a housing program that doesn't work."
Groups such as ACORN and La Raza lobby to secure government-funded services for their members and seek to move them to the voting booth. The housing bill President Bush signed in July contained a similar funding mechanism for the HTF — a tax on mortgages backed by Fannie Mae and Freddie Mac.
(Excerpt) Read more at ibdeditorials.com ...
http://www.planetjune.com/blog/images/acorn1.jpg
Another reason to oppose the bailout. I could back a good bill. A good bill win not come out of congress.
http://www.nationalreview.com/comment/clyne200410311142.asp
Of course it was no accident. And it's apparent that they didn't want McCain involved either. The big question is why Bush is in favor of it. His little 4th grade explanation last week was useless. I can only hope that his apparent complacency is part of a larger strategy - he has been known to get the 'rats to go "all in" and then trump them on occasion.
Bookmark
the Tides Foundation...
Isn’t that Kerry’s organization? Didn’t Kerry help various leftist groups launder money thru Tides?
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