Posted on 09/28/2008 7:01:55 AM PDT by TXLibertarian
Here is a link to the PDF of the latest draft proposal
For those interested, the ACORN provision is still in the bill. From Section 105:
d) TRANSFER OF A PERCENTAGE OF PROFITS.—
(1) DEPOSITS.—Not less than 20 percent of any profit realized on the sale of each troubled asset purchased under this Act shall be deposited as pro vided in paragraph
(2) USE OF DEPOSITS.—Of the amount referred to in paragraph (1)— (A) 65 percent shall be deposited into the Housing Trust Fund established under section 1338 of the Federal Housing Enterprises Regulatory Reform Act of 1992 (12 U.S.C. 4568); and
(B) 35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569).
this is the old draft, no?
it is dated September 25?
arrogant, aggressive, totalitarian democrat backsides being smooched as we speak. (a bunch of macaroons)
imho
That’s Dodd’s old proposal. Per WaPo, Acorn type organizations not in latest draft:
“Democrats also made a number of concessions, abandoning demands that bankruptcy judges be empowered to modify home mortgages on primary residences for people in foreclosure. They also agreed not to dedicate a portion of any profits from the bailout program to an affordable housing fund that Republicans claimed would primarily assist social service organizations that support the Democratic Party, the official said. “
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/28/AR2008092800064_2.html
ACORN's just the tip of the tentacle.
The previous draft was 44 pages. I think the current 102 page document first became available to the public today.
bump
George W. Bush is possibly the worst president we have ever had in my lifetime. For all his talk of being a ‘conservative,’ he constantly capitulates to the most dangerous extremes of the political left yet his ‘republican’ party affiliation continues to allow our enemies to demonize our party.
I am soooo tired of comparing Wall Street to Main Street. How many folks can live on Main Street? Acorn? La Raza? Call your Congress critters and tell them to vote against it.
The simple fact is that ANY bailout will include billions in pork and earmarks. There’s only one way to kill them.
Congress and the Countrywide Scandal
Moreover, the bill creates a new tax that will create a permanent “affordable housing trust fund” — a $500 million per-year slush fund designed to funnel money to left-wing activist groups like Acorn. Freddie and Fannie must pay into this fund even if they are not profitable, compromising their already overextended capital base.
“still includes acorn provision...”
translation: “still includes funding for democrat revolutionary operatives”
(just keep pouring that money down the pit of arrogance, condescension, hatred and fomenting of revolution.)
IMHO
Let's see what is written on this paper.
If they NEED any paper, I have a roll hanging in my bathroom they can write it on!
No problem... George Bush can VETO IT...
whew!
WSJ also reporting ACORN is out:
“Offers and counteroffers were flowing back and forth all night. Among the offers extended by Democrats: an agreement to drop a proposal to devote 20% of potential profits to an affordable housing fund, according to a Senate staffer close to the talks.
A House staffer reached after the deal announcement was made confirmed that lawmakers did decide to drop the affordable housing fund proposals, which would have potentially directed billions to state and local governments to fund housing projects.”
http://online.wsj.com/article/SB122257682963083173.html?mod=special_page_campaign2008_mostpop
“I am soooo tired of comparing Wall Street to Main Street. How many folks can live on Main Street? Acorn? La Raza? Call your Congress critters and tell them to vote against it.”
I am going to call again now! Toll free numbers are”
800-965-4701
800-828-0498
NO TO EARMARKS LIKE ACORN AND LA RAZA!
An 8 year-old child shouldn't be posting on an adult forum like FR. :)
Yeah, I think we can lock this thread as this is not the most recent version. Hopefully the new version hits the net this afternoon.
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