The Democratic ACORN bailout; Update: Video added

The democRATS say they are dealing in good faith to solve the current crisis. They are STILL dealing underhanded & dirty & shown by their actions - will never be the advocates of us regular folks. They need to fund their 'pet projects' to buy votes to keep them in office!! They are pressuring the Republicans to accept the Paulson plan with their demands that want included!!
Starlight

Read this from another site. A video link is provided:
The Democratic ACORN bailout; Update: Video added ( Hidden in the Paulson Recovery Plan?)
Hot Air ^ | 7:55 am on September 26, 2008 | Ed Morrissey

Posted on Friday, September 26, 2008 9:11:36 AM by Ernest_at_the_Beach

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 wasn’t bailing out the financial sector:

And this deal that’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 can’t believe we would take money away from debt retirement to put it in a housing program that doesn’t work.

Here’s 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? We’ll 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 that’s the innocent explanation for this clause.

See Video at this link: http://hotair.com/archives/2008/09/26/the-democratic-acorn-bailout/

This has been the most reprehensible, vile, and treasonous act I have yet seen the Democrat party attempt to do! This 'funds to ACORN' coup de tat needs to be shouted from the rooftops. IF this had passed billions of taxpayer dollars would have gone to a corrupt criminal organization actively engaged in voter fraud. This in turn would have insured that the U.S.A. would not only have had our free market system destroyed, but our elections would have become rigged, and we would have destroyed a free legitimate electoral system to a government controlled election system. I think after a good night's sleep I am starting to calm down enough to keep my hands from shaking, but I'm still furious as *#(*(*!

The FIRST proposal I didn't mind because it meant that WE could actually see profits as taxpayers as the things were paid back over time. At the very least, we'd eventually get most, if not all of our money back. I was ok with it, saw it as an investment and a loan to help keep things running. However, diverting the money as it's paid back is fraud!

All the more reason to keep up the fight. We at least have a few ally's of the people in Congress who said no to this insanity. We must support them and let them know we care.
This is the scariest election I have ever seen.