December 22nd, 2009 | 
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Are we the taxpayers being swindled?
http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.3068:
‘The original TARP legislation required that money made from the program “shall be paid into the general fund of the Treasury for reduction of the public debt.”
Frank, however, wants to spend the money before it can be used to pay down anything. First, the “TARP for Main Street” proposal would take $1 billion “from dividends paid by financial institutions that have received financial assistance provided under…the Emergency Economic Stabilization Act” and apply it to a trust fund that Frank has long wanted to create for low-income rental housing. (The measure, unfunded, was part of last year’s bailout of Fannie Mae and Freddie Mac.) Next, Frank would take $1.5 billion from TARP dividends for a so-called “neighborhood stabilization” fund. Republican critics have charged that both measures might allow federal dollars to be distributed to activist groups like the Association of Community Organizers for Reform Now, or ACORN.
The “TARP for Main Street” bill would also spend $2 billion, apparently from remaining TARP funds, to subsidize people who are delinquent on their mortgages, and another $2 billion to “stabilize multifamily properties that are in default or foreclosure.”‘
Can he really do this? Do you support this? Why or why not?
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Barney-Frank–49649362.html
Christen
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The fishes see.
Let me guess it requires everyone to bend over again.
For it.
The country thats why 100 of democrats will do vast economic harm to the country thats why 100 of democrats will do.
The country thats why 100 of democrats will do vast economic harm to the country thats why 100 of democrats will do vast economic harm to the country thats why 100 of democrats.
Can he do this? YES
Do I support this? HELL NO
Rule of thumb, anything Barney Franks thinks is a great idea, I normally look twice at. #2 QUIT SPENDING ALREADY
This is unConstitutional and will do nothing but harm economically.
The reason they wouldnt need government to give them loan the reason they need government is because they are likely to favored interests it bursts again if these people had good credit they are likely.
Yes, and get ready for more