Okay....THIS link looks like something new. I read it over quickly.
ACORN is NOT in there. However there is reference to sending troubled mortgagees TO such as ACORN for help with mortgages about to be foreclosed.
The pubbie insurance thing IS in there.
That bit about caps on CEO for CEO’s that have nothing to do with this seems to be gone....socialistic nonsense.
One thing that I noted that the pubs evidently gave up is that provision that the Sec. of Treasury can help prevent foreclosures by reducing interest rates for mortgages about to default or perhaps reduce the principal balance. The pubbies wanted this removed but it appear to have made its way back in. I suppose so long as oversight includes pubbies instead of just the party in charge...IE the Dems...it will be okay. This is a provision the pubs felt was rife for corruption.
Basically the compromise as I very quickly read looks like the pubbies got their way. However...
WHERE ARE THE REPUBLICANS???
The problem with the insurance thing is that it is mandatory only that Treasury establish it as a program. No companies are going to opt for that route because it will cost them money — as opposed to having Treasury just buy their bad paper from them.
The House GOP has been deceived by this “mandatory” language in that Treasury is only required to establish the insurance program — not force companies to choose it in lieu of the bailout money, which of course they will all choose.
I know, I'm dying here!!!!
"However there is reference to sending troubled mortgagees TO such as ACORN for help with mortgages about to be foreclosed."
If ACORN wants to pay off or help w/ a mortage (I'm assuming that's what that means, is it?)isnt that okay?