Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Earmark in Bailout Agreement?
My mother sent me this little tidbit. It is from a VERY conservative site. Anyone heard this or know if it's true? I guess it would explain some of the Republican opposition eh?
ARRA News Service
Major "Earmark" in Democrat Bailout Agreement
Update (9:58AM, Sept. 26th): While Sens. Harry Reid and Chris Dodd stand before the news this morning pontificating and mocking Republicans, especially Sen. McCain, for the perceived delay in reaching agreement, they also continues to prevaricate. Sen. Reid and Speaker Pelosi initially asserted that they needed McCain to clinch a deal for Democrats and now they are like a pack rabid dogs blaming John McCain for the deal falling apart. In fact, the deal fell apart before McCain arrived....
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. . . .
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."
In the proposed bailout agreement, Sen. Christopher Dodd, the Senate Banking Committee and other Democrats desire to pre-direct that future funds (profits) not be returned to the taxpayers via the treasury but that they be used to underwrite potential questionable (maybe even illegal activities) of certain nonprofits which have had a hand in promoting and expanding access to "no money down" loans for minorities, illegal voter registrations and extensive lobbying activities.
Re: Earmark in Bailout Agreement?
Deductive reasoning isn't a conservative or liberal attribute. ~epphd
Deductive reasoning isn't a conservative or liberal attribute. ~epphd
Surely it isn't something the Bush Administration advocates? I can't figure on what universe such a proposal would make any sense. Are the Ds trying to sabotage the deal?????
I would have thought this too. ?But the only info I can find about a "National Housing Trust Fund" is this one:?http://www.nlihc.org/template/page.cfm?id=40
Signed by the president last month?!?! ?
Deductive reasoning isn't a conservative or liberal attribute. ~epphd
Warning: tinfoil hat conspiracy to follow -
I wonder if someone (either by lobbying for the earmark or spreading the rumor) is trying to sabotage Obama by bringing ACORN into the spotlight?