Bailout profits to ACORN ???

Discussion in 'Politics' started by targus, Sep 26, 2008.

  1. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
  2. Bro. Curtis

    Bro. Curtis
    Expand Collapse
    <img src =/curtis.gif>

    Joined:
    Oct 25, 2001
    Messages:
    20,250
    Likes Received:
    4
    They must think we are the stupidest electorate in the world.

    How dare they.....
     
  3. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    And if the government is anticipating profits - why the urgency to bail these companies out of a profitable situation?
     
  4. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    TRANSFER OF A PERCENTAGE OF PROFITS.
    1. 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).
    2. USE OF DEPOSITS.Of the amount referred to in paragraph (1)
      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
      2. 35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569)
    - http://publicmarkup.org/bill/dodds-legislative-proposal-treasury-department-aut/1/5

    I don't know if this is a good idea or not as I have just heard about this and don't know about the Housing Trust Fund or the Capital Magnet Fund.
     
  5. Bro. Curtis

    Bro. Curtis
    Expand Collapse
    <img src =/curtis.gif>

    Joined:
    Oct 25, 2001
    Messages:
    20,250
    Likes Received:
    4
    Bush told the country that we are in an economic crisis and his Treasury Secretary, Henry Paulson, came up with an idea that would, it is claimed, end up actually making money for the U.S. Treasury in the long run. That's all well and good, but the Democrats already have a plan to siphon off any repayment of the people's money back to the treasury by adding one little line to the agreement that would end up stealing money from any repayments and giving it to left-wing political advocacy groups like ACORN, the National Urban League and the Hispanic group La Raza. Instead of trying to help the economy, the Democrats just want more money for their left-wing political constituents. It's business as usual for the Democrats, of course, but a bigger question is will the media let them get away with it?On Thursday, the Senate Democrats shopped around a one page "Agreement in Principle" from the U.S. Senate Banking Committee that laid out their proposal for the bailout of the economy. At first it all seems rather straight forward, but hidden inside this document is one little line that proves that Democrats aren't as interested in the economy as they are in trying to extort a payday for their favorite political advocacy groups. Yes, even in a bill as important as the bailout the Democrats are trying to stuff it with pork!...http://newsbusters.org/blogs/warner...al-redirects-paulsons-profits-left-wing-groupBush told the country that we are in an economic crisis and his Treasury Secretary, Henry Paulson, came up with an idea that would, it is claimed, end up actually making money for the U.S. Treasury in the long run. That's all well and good, but the Democrats already have a plan to siphon off any repayment of the people's money back to the treasury by adding one little line to the agreement that would end up stealing money from any repayments and giving it to left-wing political advocacy groups like ACORN, the National Urban League and the Hispanic group La Raza. Instead of trying to help the economy, the Democrats just want more money for their left-wing political constituents. It's business as usual for the Democrats, of course, but a bigger question is will the media let them get away with it?...

    http://newsbusters.org/blogs/warner...al-redirects-paulsons-profits-left-wing-group
     
    #5 Bro. Curtis, Sep 26, 2008
    Last edited by a moderator: Sep 26, 2008
  6. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    Is the "Affordable Housing Fund" that the blogger mentions the same thing as the "Housing Trust Fund" that is in the actual Dodd proposal?
     

Share This Page

Loading...