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Democrats even have to earmark the bailout

Sandhusker

Well-known member
Guess who is Acorn's right-hand man? Hint: He's a nominee for president who has a history of shady acquantances.


The Democratic ACORN bailout; posted at 7:55 am on September 26, 2008 by Ed Morrissey

House Republicans refused to support the Henry Paulson/Chris Dodd compromise bailout plan yesterday afternoon, even after the New York Times reported that Treasury Secretary Henry Paulson got down on one knee to beg Nancy Pelosi to compromise. One of the sticking points, as Senator Lindsey Graham explained later, wasnt a lack of begging but a poison pill that would push 20% of all profits from the bailout into the Housing Trust Fund a boondoggle that Democrats in Congress has used to fund political-action groups like ACORN and the National Council of La Raza:

In the Roosevelt Room after the session, the Treasury secretary, Henry M. Paulson Jr., literally bent down on one knee as he pleaded with Nancy Pelosi, the House Speaker, not to blow it up by withdrawing her partys support for the package over what Ms. Pelosi derided as a Republican betrayal.

I didnt know you were Catholic, Ms. Pelosi said, a wry reference to Mr. Paulsons kneeling, according to someone who observed the exchange. She went on: Its not me blowing this up, its the Republicans.

Mr. Paulson sighed. I know. I know.

Graham told Greta van Susteren that Democrats had their own priorities, and it wasnt bailing out the financial sector:

And this deal thats 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 cant believe we would take money away from debt retirement to put it in a housing program that doesnt work.

Heres the relevant part of the Dodd proposal:

TRANSFER OF A PERCENTAGE OF PROFITS.

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 provided in paragraph (2). USE OF DEPOSITS.Of the amount referred to in paragraph (1) 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 35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569).
REMAINDER DEPOSITED IN THE TREASURY.All amounts remaining after payments under paragraph (1) shall be paid into the General Fund of the Treasury for reduction of the public debt.

Profits? Well be lucky not to take a bath on the purchase of these toxic assets. If we get 70 cents on the dollar, that would be a success.

That being said, this section proves that the Democrats in Congress have learned nothing from this financial collapse. They still want to game the market to pick winners and losers by funding programs for unqualified and marginally-qualified borrowers to buy houses they may not be able to afford and thats the innocent explanation for this clause.

The real purpose of section D is to send more funds to La Raza and ACORN through housing welfare, via the slush fund of the HTF. They want to float their political efforts on behalf of Democrats with public money, which was always the purpose behind the HTF. They did the same thing in April in the first bailout bill, setting aside $100 million in counseling that went in large part to ACORN and La Raza, and at least in the former case, providing taxpayer funding for a group facing criminal charges in more than a dozen states for fraud.

Its bad enough that taxpayers have to pay the price for Congress decade-long distortions of the lending and investment markets. If we realize a profit from the bailout, that money should go to pay down the debt or get returned to taxpayers as dividends from their investment not to organizations committing voter fraud, and not to restarting the entire cycle of government meddling in lending markets. Id support a rational bailout package, but anything that funds the HTF needs to get stopped.



Update II: The Wall Street Journal reported on the HTF/ACORN/Democratic connections in July:

The housing bill signed Wednesday by President George W. Bush will provide a stream of billions of dollars for distressed homeowners and communities and the nonprofit groups that serve them.

One of the biggest likely beneficiaries, despite Republican objections: Acorn, a housing advocacy group that also helps lead ambitious voter-registration efforts benefiting Democrats.

Partly because of the role of Acorn and other housing advocacy groups, the White House and its allies in Congress resisted Democrats plans to include money for a new affordable-housing trust fund and $4 billion in grants to restore housing in devastated neighborhoods. In the end, the money stayed in the bill; the White House saw little choice.

What most riles Republicans about the bill is the symbiotic relationship between the Democratic Party and the housing advocacy groups, of which Acorn is among the biggest. Groups such as the National Council of La Raza and the National Urban League also lobby to secure government-funded services for their members and seek to move them to the voting booth. Acorn has been singled out for criticism because of its reach, its endorsements of Democrats, and past flaws in its bookkeeping and voter-registration efforts that its detractors in Congress have seized upon.

Once again, the Democrats want to set up a self-funding mechanism, this time by exploiting a severe financial crisis. Despicable. :mad: :mad:
 

elwapo

Well-known member
You repubs are angry little fellas Sandwhicher!
Clinton gets impeached for a little on the side and the buffoon in power can screw up the entire economy.......... and it is WHOS FAULT!
 

Sandhusker

Well-known member
elwapo said:
You repubs are angry little fellas Sandwhicher!
Clinton gets impeached for a little on the side and the buffoon in power can screw up the entire economy.......... and it is WHOS FAULT!

Sorry, Elwapo, it's Democrat fingerprints all over this real estate fiasco - and they stupid btards haven't even learned their lesson, they're still trying the same old socialist crap that got us in this mess!

And did you notice how proceeds get earmarked to Obama's little pet orgnization? The same one that is under investigation for, among other things, voter registration fraud? Ain't that nice? What was that about "change"? :mad:
 

fff

Well-known member
Sandhusker said:
Guess who is Acorn's right-hand man? Hint: He's a nominee for president who has a history of shady acquantances.


The Democratic ACORN bailout; posted at 7:55 am on September 26, 2008 by Ed Morrissey

House Republicans refused to support the Henry Paulson/Chris Dodd compromise bailout plan yesterday afternoon, even after the New York Times reported that Treasury Secretary Henry Paulson got down on one knee to beg Nancy Pelosi to compromise. One of the sticking points, as Senator Lindsey Graham explained later, wasnt a lack of begging but a poison pill that would push 20% of all profits from the bailout into the Housing Trust Fund a boondoggle that Democrats in Congress has used to fund political-action groups like ACORN and the National Council of La Raza:

In the Roosevelt Room after the session, the Treasury secretary, Henry M. Paulson Jr., literally bent down on one knee as he pleaded with Nancy Pelosi, the House Speaker, not to blow it up by withdrawing her partys support for the package over what Ms. Pelosi derided as a Republican betrayal.

I didnt know you were Catholic, Ms. Pelosi said, a wry reference to Mr. Paulsons kneeling, according to someone who observed the exchange. She went on: Its not me blowing this up, its the Republicans.

Mr. Paulson sighed. I know. I know.

Graham told Greta van Susteren that Democrats had their own priorities, and it wasnt bailing out the financial sector:

And this deal thats 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 cant believe we would take money away from debt retirement to put it in a housing program that doesnt work.

Heres the relevant part of the Dodd proposal:

TRANSFER OF A PERCENTAGE OF PROFITS.

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 provided in paragraph (2). USE OF DEPOSITS.Of the amount referred to in paragraph (1) 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 35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569).
REMAINDER DEPOSITED IN THE TREASURY.All amounts remaining after payments under paragraph (1) shall be paid into the General Fund of the Treasury for reduction of the public debt.

Profits? Well be lucky not to take a bath on the purchase of these toxic assets. If we get 70 cents on the dollar, that would be a success.

That being said, this section proves that the Democrats in Congress have learned nothing from this financial collapse. They still want to game the market to pick winners and losers by funding programs for unqualified and marginally-qualified borrowers to buy houses they may not be able to afford and thats the innocent explanation for this clause.

The real purpose of section D is to send more funds to La Raza and ACORN through housing welfare, via the slush fund of the HTF. They want to float their political efforts on behalf of Democrats with public money, which was always the purpose behind the HTF. They did the same thing in April in the first bailout bill, setting aside $100 million in counseling that went in large part to ACORN and La Raza, and at least in the former case, providing taxpayer funding for a group facing criminal charges in more than a dozen states for fraud.

Its bad enough that taxpayers have to pay the price for Congress decade-long distortions of the lending and investment markets. If we realize a profit from the bailout, that money should go to pay down the debt or get returned to taxpayers as dividends from their investment not to organizations committing voter fraud, and not to restarting the entire cycle of government meddling in lending markets. Id support a rational bailout package, but anything that funds the HTF needs to get stopped.



Update II: The Wall Street Journal reported on the HTF/ACORN/Democratic connections in July:

The housing bill signed Wednesday by President George W. Bush will provide a stream of billions of dollars for distressed homeowners and communities and the nonprofit groups that serve them.

One of the biggest likely beneficiaries, despite Republican objections: Acorn, a housing advocacy group that also helps lead ambitious voter-registration efforts benefiting Democrats.

Partly because of the role of Acorn and other housing advocacy groups, the White House and its allies in Congress resisted Democrats plans to include money for a new affordable-housing trust fund and $4 billion in grants to restore housing in devastated neighborhoods. In the end, the money stayed in the bill; the White House saw little choice.

What most riles Republicans about the bill is the symbiotic relationship between the Democratic Party and the housing advocacy groups, of which Acorn is among the biggest. Groups such as the National Council of La Raza and the National Urban League also lobby to secure government-funded services for their members and seek to move them to the voting booth. Acorn has been singled out for criticism because of its reach, its endorsements of Democrats, and past flaws in its bookkeeping and voter-registration efforts that its detractors in Congress have seized upon.

Once again, the Democrats want to set up a self-funding mechanism, this time by exploiting a severe financial crisis. Despicable. :mad: :mad:

Your link for this?

And were does it say any money will go to ACORN?

It wasn't Socialist who brought this on our country; it was Conservatives who demand less oversight and smaller government. Twist all you want, but this crisis is on Republican's shoulders.
 
A

Anonymous

Guest
And did you notice how proceeds get earmarked to Obama's little pet orgnization?

Sandy- How about the money going to McBusch's pet organization- the National Council of La Raza :???: Remember the ones he was pandering to when he told them Spanish was the native language of his state :???: The ones involved in his Reform Institute :???: :wink: :lol:

Congress is still trying to cobble together a bill that can pass but with perhaps $700 billion available for the taking here, the lobbyists have descended on Congress like a swarm of locusts. Secretary of the treasury Henry Paulson originally drew up a plan that took only three pages, but which boiled down to one sentence: "The Congress hereby appropriates $700 billion for the secretary of the treasury to spend as he sees fit." The current plan runs to over 100 pages. Some of the new provisions are:

The money will become available spaced over time, not all at once
The government will get stock in return for its money
There will be some (as yet unclear) limits on executive pay
 

Sandhusker

Well-known member
Like it will make a difference to you?

Do you want a link on Obama's vote for infanticide?
Do you want a link where Obama lied about Wright's sermons?
Do you want a link on Obama's sweetheart house deal with Rezko?
Do you want a link on Ayer's domestic terrorist activities?
Do you want a link on Obama's relationship with Ayers?
Do you want a link to where Obama said he was going to raise cap gains taxes to "even things out" even though it would actually reduce revenue?
Do you want a link to the investigation on ACORN?
Do you want a link to Obama's history with ACORN?

Why exactly do you want a link?
 

Sandhusker

Well-known member
Oldtimer said:
And did you notice how proceeds get earmarked to Obama's little pet orgnization?

Sandy- How about the money going to McBusch's pet organization- the National Council of La Raza :???: Remember the ones he was pandering to when he told them Spanish was the native language of his state :???: The ones involved in his Reform Institute :???: :wink: :lol:

Congress is still trying to cobble together a bill that can pass but with perhaps $700 billion available for the taking here, the lobbyists have descended on Congress like a swarm of locusts. Secretary of the treasury Henry Paulson originally drew up a plan that took only three pages, but which boiled down to one sentence: "The Congress hereby appropriates $700 billion for the secretary of the treasury to spend as he sees fit." The current plan runs to over 100 pages. Some of the new provisions are:

The money will become available spaced over time, not all at once
The government will get stock in return for its money
There will be some (as yet unclear) limits on executive pay

The Democrats have been sucking up to LaRazza. You notice that the money goes to LR and ACORN. What party has been kissing the arse of both of those worthless outfits? This is disgusting. Nothing like picking the pockets of US taxpayers while they're down. There is NO excuse for this crap!
 
A

Anonymous

Guest
Sandhusker said:
Oldtimer said:
And did you notice how proceeds get earmarked to Obama's little pet orgnization?

Sandy- How about the money going to McBusch's pet organization- the National Council of La Raza :???: Remember the ones he was pandering to when he told them Spanish was the native language of his state :???: The ones involved in his Reform Institute :???: :wink: :lol:

Congress is still trying to cobble together a bill that can pass but with perhaps $700 billion available for the taking here, the lobbyists have descended on Congress like a swarm of locusts. Secretary of the treasury Henry Paulson originally drew up a plan that took only three pages, but which boiled down to one sentence: "The Congress hereby appropriates $700 billion for the secretary of the treasury to spend as he sees fit." The current plan runs to over 100 pages. Some of the new provisions are:

The money will become available spaced over time, not all at once
The government will get stock in return for its money
There will be some (as yet unclear) limits on executive pay

The Democrats have been sucking up to LaRazza. You notice that the money goes to LR and ACORN. What party has been kissing the arse of both of those worthless outfits? This is disgusting. Nothing like picking the pockets of US taxpayers while they're down. There is NO excuse for this crap!

You can't blame just Democrats or Obama- Your chosen champion has a 25 history of stink.....

John McCain: La Raza’s voice in Washington
By Michelle Malkin • February 4, 2008 01:46 PM
-----------------
You want straight talk? McCain’s tongue says he’s “listened and learned.” But his heart is with La Raza, the militantly ethnocentric, anti-immigration enforcement Hispanic lobbying group that honored him in 1999 and whose annual conference he keynoted in 2004.

http://michellemalkin.com/2008/02/04/john-mccain-la-razas-voice-in-washington/

http://michellemalkin.com/2008/01/25/meet-the-open-borders-family-mccain-hernandez-soros-and-the-reform-institute/

http://www.worldnetdaily.com/index.php?pageId=56177

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=63522

http://michellemalkin.com/2008/05/05/mccain-to-speak-at-open-borders-la-raza-the-race-conference/
 

Sandhusker

Well-known member
Obama has very close links to ACORN and LaRaza has endorsed Obama for President. How can there be any doubt as to which party slipped that little deal in there?
 

fff

Well-known member
Sandhusker said:
Obama has very close links to ACORN and LaRaza has endorsed Obama for President. How can there be any doubt as to which party slipped that little deal in there?

Obama may well have the ties you claim, but so far all we have is your copied and pasted article saying the bailout money will go to ACORN. Bluster all you want, but we know that most/all of those anonymous anti-Obama emails floating around the internet are lies. If you have a link showing what your original post says from a reliable source, post it. Otherwise, it's just hot air and desperation on your part. And we'll know how trustworthy one banker is.
 

fff

Well-known member
Sandhusker said:
Obama has very close links to ACORN and LaRaza has endorsed Obama for President. How can there be any doubt as to which party slipped that little deal in there?

What little deal?
 

fff

Well-known member
Sandhusker said:
Like it will make a difference to you?

Do you want a link on Obama's vote for infanticide?
Do you want a link where Obama lied about Wright's sermons?
Do you want a link on Obama's sweetheart house deal with Rezko?
Do you want a link on Ayer's domestic terrorist activities?
Do you want a link on Obama's relationship with Ayers?
Do you want a link to where Obama said he was going to raise cap gains taxes to "even things out" even though it would actually reduce revenue?
Do you want a link to the investigation on ACORN?
Do you want a link to Obama's history with ACORN?

Why exactly do you want a link?

I want a link to the article you've posted to start this thread.
 

Steve

Well-known member
fff said:
Sandhusker said:
Like it will make a difference to you?

Do you want a link on Obama's vote for infanticide?
Do you want a link where Obama lied about Wright's sermons?
Do you want a link on Obama's sweetheart house deal with Rezko?
Do you want a link on Ayer's domestic terrorist activities?
Do you want a link on Obama's relationship with Ayers?
Do you want a link to where Obama said he was going to raise cap gains taxes to "even things out" even though it would actually reduce revenue?
Do you want a link to the investigation on ACORN?
Do you want a link to Obama's history with ACORN?

Why exactly do you want a link?

I want a link to the article you've posted to start this thread.

then go find it and stop being so disagreeable.. :roll:

if you can't find it yourself try this one:...

http://vids.myspace.com/index.cfm?fuseaction=vids.individual&VideoID=42416688
 
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