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Monday, September 29, 2008
With nary a shot fired in defense
4 comments:
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Anonymous said...
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“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 can’t believe we would take money away from debt retirement to put it in a housing program that doesn’t work.”
from
http://www.qando.net/details.aspx?Entry=9387
Section 106 of the plan takes 20% of the money from the sale of the troubled assets and puts it in the Health Trust Fund. This money is then used with the cooperation of ACORN and others to provide loans for the same people who couldn’t pay this time.
The Housing Trust Fund was established in the Federal Housing Enterprises Regulatory Reform Act of 1992 by our good buddy Billy Clinton.
From Section 106,
A) 65 percent shall be deposited into the
2 Housing Trust Fund established under section
3 1338 of the Federal Housing Enterprises Regu4
latory Reform Act of 1992 (12 U.S.C. 4568);
5 and
6 ø(B) 35 percent shall be deposited into the
7 Capital Magnet Fund established under section
8 1339 of that Act (12 U.S.C. 4569).
Just to be clear, that’s 65% of the 20%
MitchM -
9/29/08, 8:11 AM
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Rodger the Real King of France said...
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ACORN has been stripped
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9/29/08, 9:05 AM
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Anonymous said...
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Hmmmm, the draft over at Foxnews seems to show that it's not stripped. Maybe it has been since then. That's the rumor anyway.
http://www.foxnews.com/projects/pdf/rescuebill_First_Draft.pdf
MitchM -
9/29/08, 11:26 AM
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OregonGuy said...
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If there's a critter out there taking livestock...we put a bullet in it.
Fannie, Freddie and CRA, all creatures of the federal government.
When do they put a bullet into these creatures? (Answer: Never. They do too much good.)
. -
9/29/08, 11:55 AM
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