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Home Front: Politix
HotAir: The Democratic ACORN bailout
2008-09-26
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, wasn’t 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 party’s support for the package over what Ms. Pelosi derided as a Republican betrayal.

“I didn’t know you were Catholic,” Ms. Pelosi said, a wry reference to Mr. Paulson’s kneeling, according to someone who observed the exchange. She went on: “It’s not me blowing this up, it’s the Republicans.”

Mr. Paulson sighed. “I know. I know.”
Graham told Greta van Susteren that Democrats had their own priorities, and it wasnÂ’t bailing out the financial sector:
And this deal thatÂ’s 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 canÂ’t believe we would take money away from debt retirement to put it in a housing program that doesnÂ’t work.
HereÂ’s the relevant part of the Dodd proposal...

Go to the link to read the rest. I'm losing patience with these people.

Filed, reluctantly, under Home Front: Politix instead of Lurid Crime Tales. I think I've reached the point where I oppose any bailout that doesn't include a line item for a couple million dollars for ME to buy canned goods and ammunition with.
Posted by:Abdominal Snowman

#6  Dodd's plan cedes tremendous power to the Secretary of Treasury Paulson, currently a Democrat.

EXERCISE OF RIGHTS.The Secretary may, at any time, exercise any rights received in connection with troubled assets purchased under this Act.
Posted by: JohnQC   2008-09-26 15:38  

#5  Oh My GOD!

The EVIL REPUBLICANS are SLASHING FUNDING TO NEIGHBORHOOD COMMUNITIES and COMMUNITY ORGANIZERS! MILLIONS OF DISADVANTAGED, MINORITIES, AND THE POOR ARE EXPECTED TO STARVE!

-- I predict that this will be the headline when this goes south. They did it before with Social Security.
Posted by: CrazyFool   2008-09-26 11:28  

#4  Do we get the pitchforks and torches out to let them know that they are on a dealine?
Posted by: bigjim-ky   2008-09-26 11:27  

#3  I predict a landslide in Nov. It's hard to imagine a bigger cuckoos nest than the current Democratic party.

Too bad the Republicans didn't bother running strong candidates in SO many districts.

Thus far the Congressional switchboards are reportedly running 50/50: 50% No, and 50% Hell No.
Posted by: Abdominal Snowman   2008-09-26 10:56  

#2  sooooo.... what's the downside of this? The dems refuse to sign because they want to fund ACORN??? That will go over well with the electorate.

I predict a landslide in Nov. It's hard to imagine a bigger cuckoos nest than the current Democratic party.
Posted by: Betty Grating2215   2008-09-26 10:29  

#1  Oh, and I believe this is the article that Zhang Fei linked to last night, but I don't really remember.

I thought it needed to have its own separate post.
Posted by: Abdominal Snowman   2008-09-26 09:32  

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