Comments on: Text of the ACORN Related Provision in Bailout Bill http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/ Tue, 14 Feb 2012 19:53:39 +0000 hourly 1 http://wordpress.org/?v=3.3 By: m, Baltimore http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-14837 m, Baltimore Tue, 27 Jan 2009 14:51:06 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-14837 Mortgage counseling services are offered by many nonprofit groups. Mortgage counseling is a very useful tool for people to understand how much house they can actually afford, and to avoid falling victim to predatory lenders. If more people had received mortgage counseling, from any one of the many groups that offer it, the housing market would not be in this current crises. If we had more mortgage counseling, there would be fewer troubled mortgage assets. Mortgage counseling services are offered by many nonprofit groups. Mortgage counseling is a very useful tool for people to understand how much house they can actually afford, and to avoid falling victim to predatory lenders. If more people had received mortgage counseling, from any one of the many groups that offer it, the housing market would not be in this current crises. If we had more mortgage counseling, there would be fewer troubled mortgage assets.

]]> By: Pat, Brooklyn, NY http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6925 Pat, Brooklyn, NY Mon, 13 Oct 2008 02:40:43 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6925 People, get your facts straight on this "Acorn-Related Provision." This is the text of the section dealing with profits from the sale of troubled assets, from the published text of HR 1424, passed as Public Law 110-343, and signed into law by President Bush on October 3, 2008. Read it for yourself: ------------ SEC. 106. RIGHTS; MANAGEMENT; SALE OF TROUBLED ASSETS; REVENUES AND SALE PROCEEDS. d) Transfer to Treasury.-- Revenues of, and proceeds from the sale of troubled assets purchased under this Act, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under section 113 shall be paid into the general fund of the Treasury for reduction of the public debt. ------------ What does it say, people? It says the proceeds--ALL of them--will go to REDUCE THE PUBLIC DEBT. This "Acorn Related Provision" that you are peddling appears NOWHERE in the bill. Not a dime will go to Acorn or any other community organizations. Read it for yourself, if you don't believe me: A summary of the bill is here, with links to the full text: <a href="http://en.wikipedia.org/wiki/HR1424" rel="nofollow">http://en.wikipedia.org/wiki/HR1424</a> And the full text of the bill, all 451 pages, is here, on the Senate's own website: <a href="http://banking.senate.gov/public/_files/latestversionAYO08C32_xml.pdf" rel="nofollow">http://banking.senate.gov/public/_files/latestver...</a> This so-called "Acorn Related Provision," is a complete myth and a hoax, peddled by people with no principles and no respect for truth, facts, or decorum. To the people passing this poisonous nonsense around: Have you no decency left? People, get your facts straight on this "Acorn-Related Provision."

This is the text of the section dealing with profits from the sale of troubled assets, from the published text of HR 1424, passed as Public Law 110-343, and signed into law by President Bush on October 3, 2008. Read it for yourself:

————

SEC. 106. RIGHTS; MANAGEMENT; SALE OF TROUBLED ASSETS; REVENUES AND SALE PROCEEDS.

d) Transfer to Treasury.– Revenues of, and proceeds from the sale of troubled assets purchased under this Act, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under section 113 shall be paid into the general fund of the Treasury for reduction of the public debt.

————

What does it say, people? It says the proceeds–ALL of them–will go to REDUCE THE PUBLIC DEBT. This "Acorn Related Provision" that you are peddling appears NOWHERE in the bill. Not a dime will go to Acorn or any other community organizations.

Read it for yourself, if you don't believe me:

A summary of the bill is here, with links to the full text:
http://en.wikipedia.org/wiki/HR1424

And the full text of the bill, all 451 pages, is here, on the Senate's own website:
http://banking.senate.gov/public/_files/latestver…

This so-called "Acorn Related Provision," is a complete myth and a hoax, peddled by people with no principles and no respect for truth, facts, or decorum. To the people passing this poisonous nonsense around: Have you no decency left?

]]> By: Are Republicans joking? - Page 5 - XDTalk Forums - Your HS2000/SA-XD Information Source! http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6877 Are Republicans joking? - Page 5 - XDTalk Forums - Your HS2000/SA-XD Information Source! Sun, 12 Oct 2008 02:26:52 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6877 [...] Text of the ACORN Related Provision in Bailout Bill The Foundry That links to the text that is supposed to be the ACORN funding that was removed. Please point out to me where it mentions ACORN? Some right wing nut job got their panties in twist and then it just snowballed and no one bothered to actually read the damn thing. All we heard about was ACORN getting money. Well they are NOT mentioned in that text. I'm not saying that they may have gotten money if that was passed. But according to most people who never bothered to check into it there was a passage that directly gave ACORN money and mentioned them by name. And that's just not the case. Some of you people actually need to start reading stuff beyond the headlines. Or listen to someone who actually has their head screwed on straight. Same thing with the "pork" for the wooden arrows. There was no pork for the wooden arrows. Here is a link with an audio file about the arrows. LarsLarson.com: Interview Highlights __________________ Semper Fi Quote: [...] [...] Text of the ACORN Related Provision in Bailout Bill The Foundry That links to the text that is supposed to be the ACORN funding that was removed. Please point out to me where it mentions ACORN? Some right wing nut job got their panties in twist and then it just snowballed and no one bothered to actually read the damn thing. All we heard about was ACORN getting money. Well they are NOT mentioned in that text. I’m not saying that they may have gotten money if that was passed. But according to most people who never bothered to check into it there was a passage that directly gave ACORN money and mentioned them by name. And that’s just not the case. Some of you people actually need to start reading stuff beyond the headlines. Or listen to someone who actually has their head screwed on straight. Same thing with the "pork" for the wooden arrows. There was no pork for the wooden arrows. Here is a link with an audio file about the arrows. LarsLarson.com: Interview Highlights __________________ Semper Fi Quote: [...]

]]> By: Peter Martell, Wakef http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6609 Peter Martell, Wakef Tue, 07 Oct 2008 19:18:08 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6609 The bailout is obviously a sellout of hard working Americans!!! The bailout is obviously a sellout of hard working Americans!!!

]]> By: Peggy McGilligan, Na http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6270 Peggy McGilligan, Na Tue, 30 Sep 2008 22:08:11 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6270 Many of the fat cats who circulate from board to board and from job to job throughout the financial industry are also members of the Bilderberg Group and or the Trilateral Commission, founded respectively in 1954, and in 1973, in New York City. When someone takes your money and steals your car, it makes an impression. When they belong to such a shadowy political clique, it leaves an indelible impression. Many elected officials even belong to these cabals, hence the secrecy. When Bill Clinton eased banking restrictions, he dished out $8-billion dollars for “community reinvestment loans.” When the financing schemes fell through, as is their wont whenever 30-million Mexican nationals buy inflated properties and default, it left banks in the lurch. Hillary Clinton counted on the Politically Correct loan giveaways to buy votes. Interestingly enough, had Hillary secured the nomination; she, instead of Barack Obama would preside over the bailout. So, where’s that $8-bilion plus dollars? Where’s Hillary? Why the caveat in Section 8 of the bailout: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency?” The Global Initiative people (code speak for car thieves) took my money; they stole my car. If you or I did half the things these people have done, we’d be serving consecutive life sentences. Wise up, get angry, and let the bubble burst. Besides, Ben Stein says we’re going to be just fine. You have my word on it too. Gentlemen, I want my money back. “You are a ?den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.” –Andrew Jackson, to fraudulent financiers, 1832: <a href="http://theseedsof9-11.com" rel="nofollow">http://theseedsof9-11.com</a> Many of the fat cats who circulate from board to board and from job to job throughout the financial industry are also members of the Bilderberg Group and or the Trilateral Commission, founded respectively in 1954, and in 1973, in New York City. When someone takes your money and steals your car, it makes an impression. When they belong to such a shadowy political clique, it leaves an indelible impression. Many elected officials even belong to these cabals, hence the secrecy. When Bill Clinton eased banking restrictions, he dished out $8-billion dollars for “community reinvestment loans.”

When the financing schemes fell through, as is their wont whenever 30-million Mexican nationals buy inflated properties and default, it left banks in the lurch. Hillary Clinton counted on the Politically Correct loan giveaways to buy votes. Interestingly enough, had Hillary secured the nomination; she, instead of Barack Obama would preside over the bailout. So, where’s that $8-bilion plus dollars? Where’s Hillary? Why the caveat in Section 8 of the bailout: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency?”

The Global Initiative people (code speak for car thieves) took my money; they stole my car. If you or I did half the things these people have done, we’d be serving consecutive life sentences. Wise up, get angry, and let the bubble burst. Besides, Ben Stein says we’re going to be just fine. You have my word on it too. Gentlemen, I want my money back. “You are a ?den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.” –Andrew Jackson, to fraudulent financiers, 1832: http://theseedsof9-11.com

]]> By: Julie, Albuquerque, NM http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6253 Julie, Albuquerque, NM Tue, 30 Sep 2008 18:37:41 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6253 The more I read about the Federal Housing Regulation Reform Act of 1992 articles 1338 & 1339 it's easy to see how money is funneled into these two organizations ACORN and Capitla Management Funds. The ACORN group was even opposed to the government bailing out Fanny Mae and Freddy Mac unless they received 65% of their earnings. Interesting enough that Pres. Bush passed a bill earlier in the year that would provide the ACORN org with $500 million over the next 10 years. Here I am I just bought a house and had to fight for government money to help with a down payment. If I were of a different race I could have been supported by ACORN I'm sure and would have gotten a better house just given to me. Talk about Pork Barrel Spending! Here I am I work every day and I'll be damned if I want my tax payer money to go to fund some greedy organizations like the two above. Let them collect on the street corner like people do that need help with their childrens medicial bills. Our priorities have been displaced in this country. We all need to take a good look at what we are doing and the people we elect. The everyday Joe who works and isn't reliant on Welfare, or ACORN to get their house and make a living is being penalized here. Encourage your congress person to do the right thing and cut this out! The more I read about the Federal Housing Regulation Reform Act of 1992 articles 1338 & 1339 it’s easy to see how money is funneled into these two organizations ACORN and Capitla Management Funds. The ACORN group was even opposed to the government bailing out Fanny Mae and Freddy Mac unless they received 65% of their earnings. Interesting enough that Pres. Bush passed a bill earlier in the year that would provide the ACORN org with $500 million over the next 10 years. Here I am I just bought a house and had to fight for government money to help with a down payment. If I were of a different race I could have been supported by ACORN I’m sure and would have gotten a better house just given to me. Talk about Pork Barrel Spending! Here I am I work every day and I’ll be damned if I want my tax payer money to go to fund some greedy organizations like the two above. Let them collect on the street corner like people do that need help with their childrens medicial bills. Our priorities have been displaced in this country. We all need to take a good look at what we are doing and the people we elect. The everyday Joe who works and isn’t reliant on Welfare, or ACORN to get their house and make a living is being penalized here. Encourage your congress person to do the right thing and cut this out!

]]> By: Dellaina, WA http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6233 Dellaina, WA Tue, 30 Sep 2008 11:10:06 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6233 If taxpayers wind up footing the bill for this bailout, wouldn't it make more sense to send the proceeds back to the taxpayers?! If taxpayers wind up footing the bill for this bailout, wouldn't it make more sense to send the proceeds back to the taxpayers?!

]]> By: Jane, GA http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6210 Jane, GA Mon, 29 Sep 2008 23:26:14 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6210 You all may want to spend some time reading the real bill and not listening to bloggers. You all have gone of the deep end. The real bill as voted on - <a href="http://www.rules.house.gov/110/text/110_hr3997_amnd_samnd.pdf" rel="nofollow">http://www.rules.house.gov/110/text/110_hr3997_am...</a> You all may want to spend some time reading the real bill and not listening to bloggers. You all have gone of the deep end.

The real bill as voted on –
http://www.rules.house.gov/110/text/110_hr3997_am…

]]> By: Jim, Pasco Washingto http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6205 Jim, Pasco Washingto Mon, 29 Sep 2008 20:54:00 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6205 The regulation cited refers to bank regulation oversite not ACRON. You folks need to do your own home work. The "Profits" would go to funding bank oversite (which is now proven do be despertly needed) not some left wing group .... Is there any honest conservatives left? If you can't argue without making up facts what are you fighting for? ... I miss the days when the conservative movement wasn't controlled by parnoide nut jobs .... the Hertage Group gives conservatives a very bad name. The regulation cited refers to bank regulation oversite not ACRON. You folks need to do your own home work. The "Profits" would go to funding bank oversite (which is now proven do be despertly needed) not some left wing group …. Is there any honest conservatives left? If you can't argue without making up facts what are you fighting for? … I miss the days when the conservative movement wasn't controlled by parnoide nut jobs …. the Hertage Group gives conservatives a very bad name.

]]> By: laura waclawczyk,cen http://blog.heritage.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6202 laura waclawczyk,cen Mon, 29 Sep 2008 20:30:25 +0000 http://www.foundry.org/2008/09/26/text-of-the-acorn-related-provision-in-bailout-bill/#comment-6202 i can't believe we've come to this sad state of affairs, where the people don't trust their government, and the government doesn't represent the people. this all makes me very sad. i can't believe we've come to this sad state of affairs, where the people don't trust their government, and the government doesn't represent the people. this all makes me very sad.

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