Barney Frank wants to steal our TARP repayments for deadbeats and ACORN

July 9, 8:02 PMBoston Conservative Independent ExaminerKimberly Morin

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Haven’t we had enough with Barney Frank making a complete mockery of us?  It was Frank who said that Fannie and Freddie were okay right before the housing bubble burst.  Frank KNEW they were in deep trouble yet he outright lied to the American people.  It was Frank who pushed easing restrictions on the Community Reinvestment Act to give loans to uncreditworthy people.  It is Frank who just recently asked Fannie and Freddie to ease restrictions on condo loans!  NOW he wants to take our borrowed TARP taxpayer dollar returns (yes the banks actually paid some back) and give them to people who can’t pay their mortgages in certain neighborhoods and you can bet some of that money will go to ACORN to help.

In the ‘TARP for Main Street Act of 2009’, Frank wants “To use amounts made available under the Troubled Assets Relief Program of the Secretary of the Treasury for relief for homeowners and neighborhoods.”    They already tried this.  They gave homeowners the chance to re-finance and get help.  It will be these same people that will get help again if they still even have their homes.  What Frank doesn’t understand is if people couldn’t afford their mortgages 6 months ago, odds are they still cannot afford them.  Supporters of the bill say it is help for people who lost their jobs through no fault of their own but that is a lie – those words are nowhere to be found in the bill. 

From the bill “…the Secretary of the Treasury shall transfer to the Secretary of Housing and Urban Development $2,000,000,000, and the Secretary of Housing and Urban Development shall credit such amount to the Emergency Homeowners' Relief Fund, which such Secretary shall establish pursuant to section 107 of the Emergency Housing Act of 1975 (12 U.S.C. 2706), as such Act is amended by this section, for use for emergency mortgage assistance in accordance with title I of such Act.”  How ironic, ‘Urban development ‘, which consists of the majority of people who thought that Obama would ‘pay their mortgage.’  It has been suggested that this is nothing more than ‘paying for future votes.’  I think it is paying for past votes. 

Now bring ACORN to the Barney Frank ‘Screw Americans Circus’, the ever persistent voter registration fraud organization.   They have played huge roles in the housing bubble because they pushed the CRA more than even shady Congressmen like Barney Frank.  ACORN receives millions every year from taxpayer dollars specifically for the ‘work’ they do in the urban communities.  Of course, they were aiding people in getting bad loans as well.  ACORN as they always have been is part of the problem.  They will get money from this bill to help these people which they probably helped put into the situation in the first place.  That would have been stopped as well because Michele Bachmann (R-MN) had added an amendment to a TARP bill that would not allow ANY organization indicted on fraud charges to receive government funds.  Guess who took that amendment out?  Bingo – great guess – you are a winner - that would be Barney Frank.

There was an amendment introduced back in April by Republican Kevin McCarthy (R-CA) that specifically states that all TARP repayments be used to pay down the public debt.  The bill of course has gone nowhere because it’s sitting in the House Financial Services Committee – of which Barney Frank is the Chairman - I’m sure you are not surprised.  A bill that actually makes economic and financial sense for the taxpayers and Frank sits his ass on it and doesn’t even bring it to the House for a vote.  Not that the other Democrats would have voted for it.

 There doesn’t seem to be many Democrats in Congress these days who have courage, strength or care for their constituents.  They are like jackasses pulling a cart with a carrot out front.  Don’t they realize that carrot is going to get snapped in 2010 because they refuse to do what is right for the majority of Americans?   What’s worse is that most people probably don’t even know this bill exists and that Frank has squashed it.   Of course many people have common sense and realize that any TARP repayments SHOULD go to pay down the public debt.  Only a complete and utterly irresponsible hack wouldn’t use the funds for that purpose.  Only someone like Barney Frank would steal our TARP repayments and give them to deadbeats and ACORN.
 

 Photo by the Associated Press