Major "Earmark" in Democrat Bailout Agreement - $Millions for ACORN and La Raza !

Major "Earmark" in Democrat Bailout Agreement - $Millions for ACORN and La Raza !

arkansasgopwing.blogspot.com

Breaking News - Bill Smith, ARRA Editor. 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.

While on the surface the agreement looks generic and positive, However, the "devil is in the detail." There is one detail that Democrats are concerned that Republicans will not agree to in the bailout agreement. That is if the Republicans even see the item. It seems that this issue may be one reason that many Democrats have hounded Sen. John McCain and pushed for his speedy approval. Senate Majority Harry Reid (D-NV) has already identified that it is Sen. John McCain's approval, not Barack Obama approval, that is needed to secure the agreement of Senate Republicans. In fact, the questioned provision indirectly focus on some prior concern regarding Sen. Barack Obama involvement with various organizations. Maybe that is why Obama would prefer being at a debate in Mississippi than being in Washington D.C.
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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 --

"Directs a certain percentage of future profits to the Affordable Housing Fund and the Capital Magnet Fund to meet America's housing needs."

(visit the link for the full news article)

Despite all the recent uproar over earmarks, the Democrats have inserted a particularly odious one into their proposed $700 billion financial bailout bill - a provision that would direct a share of the profits to the organization reputedly involved in vast voter fraud, and an organization that promotes benefits for illegal immigrants.

These two organizations, ACORN and La Raza, are well-know Democrat fundraising groups.

It is no wonder that fiscally responsible Republicans oppose this. And it is no wonder that Harry Reid and Nancy Pelosi support it.

If I were Obama, I'd rather be in Mississippi than in DC tonight, too.

arkansasgopwing.blogspot.com
(visit the link for the full news article)

reply to post by jsobecky


I dont know what La Raza is but ACORN helped me buy my first house by helping me pay for the expensive closing costs. Its a good company if you dont have 15k to close on your house. It helped me to get a start in this world in which I have payed back society more than my share. I wouldnt be to quick to dog on companies that are helping people to get into homes. BTW just to save your breath of what you will say they didnt dabble in subprime you had to go full doc with these guys.

La Raza is an organizaton of illegal immigration supporters who think that the American Southwest still belongs to Mexico. They are agitators who do not know the meaning of law.

Again sir, you are ill informed or have an irrational need to tell lies. I have known people that were members of La Raza over 35 years ago and all of them were U.S. citizens.

reply to post by mybigunit

Originally posted by mybigunit
reply to post by jsobecky

 

I dont know what La Raza is but ACORN helped me buy my first house by helping me pay for the expensive closing costs. Its a good company if you dont have 15k to close on your house. It helped me to get a start in this world in which I have payed back society more than my share. I wouldnt be to quick to dog on companies that are helping people to get into homes. BTW just to save your breath of what you will say they didnt dabble in subprime you had to go full doc with these guys.

Well, I'm glad they helped you get into your home. No organization is 100% good or bad. But their problems are well documented.

You may have see this thread:

www.abovetopsecret.com...