Saturday, September 27, 2008

Bush Third Term: Special Interests
I have discussed Obama's advocacy work with ACORN and other special interest groups associated with the housing crisis. Interesting that "Countrywide" Senator Dodd, in the bailout negotiations, is negotiating for a bailout of ACORN and other similar special interest groups. The proposed language to include in the bailout measure suggests that 20% of the profits made on any sale of government purchased motgage assets will be directed to trust funds utilized by the housing advocacy special interests to subsidize low income / no income home ownership. (It would not surprise me if the funds get diverted to operating funds and political advocacy activities given ACORN's penchant for illegal activity and stuffing the ballot box to the favor of Democrat candidates). This has the appearance that Subprime Dodd is assuaging guilt for the part that the CRA had in the mortgage meltdown.

Doughnuts for Everyone


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