Posted on 09/26/2008 4:04:56 AM PDT by 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.
(Excerpt) Read more at blogs4mccain.com ...
Excerpt from bill:
Providing $4 billion in funding for communities to purchase and redevelop foreclosed-upon properties. Homes that have been foreclosed-upon and are sitting unoccupied on the market can sap neighboring homes of their value, and lead to a cycle of community distress. Title II of S. 2636 allows localities with the highest foreclosure numbers and rates access to Community Development Block Grant (CDBG) funds to use toward purchasing these properties, rehabilitate them if necessary and rent, re-sell or otherwise redevelop them. Productive occupancy of foreclosed homes will help stimulate economic activity and help prevent further loss of home equity in struggling neighborhoods.
/excerpt
I think these grants are already available. We have been putting bids in on short sales and the homes we have bid on to date have been bought out of foreclosure with no negotiations to the bidders and listed as new resales. I was wondering who was eating the debt.
What a balanced list of American grassroots organizations ;)
ppppffftttt...
You don’t expect our voices to count now, do you?
LOL! Not normally. This time may be different- the Congressional phones are ringing like crazy- they’re responding- the system, while rickety- seems to be working.
The blatant depth that the corruption has reached is mindboggling. We have become akin to a third world country.
Message is getting out on the internet. Maybe we will hear a collective roar from the populace soon?
Results 1 - 10 of about 39,900 for +Housing +bailout +ACORN. (0.24 seconds)
“The Democrat Voter Fraud Enablement Act of 2008”
I don’t know. I can pull posts and threads off of FR from years back showing collective roars. It just seems to get more blatant. Back during the Clinton era and even before, you had to dig for the corruption. Since Bush or 9/11, no more digging is needed. It is out there for all to see in the new media. I don’t see a difference. I see only more out in the open corruption.
bump
But I'll tell you this: If McCain by some miracle should see the light and refuse to vote for this or any other bailout, I will eat my words and vote FOR the sonuvagun.
Make me eat my words, McCain.
Bush was absolutely right about that one.
Only problem is, I’ve seen items in that bill already being implemented at the local levels. So opposition seems to be moot.
That is why it is absolutely urgent the GOP return to conservative roots and fight all this malfeasance.....but they won’t. Duncan Hunter and Tancredo had a total of about 5% support between them, while all libs carried the day in the primary.
Oh, I'm sure the Gov would love a seat on the Board of Directors of some large financial institution. The scams he could run would be worth $billions.
>>>That is why it is absolutely urgent the GOP return to conservative roots and fight all this malfeasance.....but they won’t.
That will never again happen with a centrist grabbing the brass ring.
>>>Duncan Hunter and Tancredo had a total of about 5% support between them, while all libs carried the day in the primary.
The more I’ve learned about the voter fraud and the electronic candidate system this past year, I don’t lend any credibility to percentages. All is suspect.
Sigh- I know. I cling to the statement McC made in NY yesterday- talking about the bailout- “NO EARMARKS”.
From The Corner-
ACORN — NUTS! [Jack Fowler]
So a huge chunk of this proposed bailout is going to end up in the coffers of the Association of Community Organizations for Reform Now? Before you do anything else, check out this report - http://www.consumersrightsleague.org/UploadedFiles/ACORN_AHC_Report.pdf
“ACORN’s Hypocritical House of Cards: How One “Community” Group Helped the Housing Crisis Harm Taxpayers” — by the Consumers Rights League.
Just two days ago James Terry, CRL’s chief counsel, was testifying http://www.consumersrightsleague.org/uploadedfiles/JamesTerryACORN9-24.pdf
before Congress about ACORN’s long record of widespread voter-registration fraud — is there any mischief of shakedown ACORN isn’t into? CRL is all over this hyper-left outfit so beloved by Obama: you’ll find additional charges of ACORN corruption here http://www.consumersrightsleague.org/uploadedfiles/ACORN_release.pdf
and here.http://www.consumersrightsleague.org/uploadedfiles/Latest%20Million%20Dollar%20ACORN%20Scandal.pdf
I just don’t get it on the bailout plan. Our issues, and things that matter to conservatives — such as a capital gains tax cut, limited governmentt — are immediately scoffed at, and ruled non-starters, because of the enormity of the consequences the American economy faces. But this bailout seems to be developing into a lefty Christmas tree, and that’s just something conservatives will just have to swallow. Unless ACORN gets sprinkled with this pixie dust, unless John Sweeny and his hugely overpaid labor buddies get their wish list adopted http://tinyurl.com/3g8338 , we are going to have a depression? Stop the world, I want to get off.
09/26 10:11 AM
New word: DemoCROOKS
Most of these outfits, like Fannie Mae, were money laundering operations to funnel millions in contributions to the same outfits like Laraza, acorn, rainbow coalition, etc..
The dems need a way to keep $ funneled to these ‘non profits’ for pure political purposes. It’s all about ‘community organizing’.
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