Major “Earmark” in Democrat Bailout Agreement (URGENT must read -ACORN and more)

Blogs 4 McCain ^ | 25 September 2008 | Bill Smith

[SE Mom]

I received a copy of “Agreement in Principle” relative to the $700 billion “bailout” being proposed and supported by Senate Democrats. The one page agreement from the U.S. Senate Banking Committee details guidelines to be put in place relative to taxpayer protection, oversight and transparency, home ownership preservation and Funding Authority.

... In the “agreement in principle,” there is the effect of a major “earmark” which commits money from future “profits” to be given to nonprofits organizations like ACORN, National Council of La Raza and potentially the National Urban League. This agreement clearly evidences that the Government expects to benefit in the future from the bailout when the values of property rises and mortgages or properties are then sold by the Federal government. The agreement –

... In the proposed bailout agreement, Sen. Christopher Dodd, the Senate Banking Committee and other Democrats desire to pre-direct that future funds (profits) not be returned to the taxpayers via the treasury but that they be used to underwrite potential questionable (maybe even illegal activities) of certain nonprofits which have had a hand in promoting and expanding access to “no money down” loans for minorities, illegal voter registrations and extensive lobbying activities.

[SE Mom]

Since this was first posted yesterday morning- the issue has gone mainstream- well- not CNN or MSNBC- but it’s been picked up all over the place. It’s a hot issue for our House GOP guys- they’re standing strong against it. There’s an excellent accounting of it here too:

http://hotair.com/archives/2008/09/26/the-democratic-acorn-bailout/

[snowrip]

I just emailed the excerpt and link to about a hundred people nationwide.