ACORN: "Bailout Failure is an Opportunity to Improve Package"

ACORN.org ^ | September 29, 2008 | Maude Hurd

[HAL9000]

More Relief for Homeowners Would Actually Stem Crisis More Effectively

On Sept. 29, ACORN (Association of Community Organizations for Reform Now) President Maude Hurd released the following statement about the House of Representatives 205-228 vote in opposition to the Wall Street bailout package this afternoon:

"ACORN welcomes the opportunity to renegotiate a package that will actually do something for homeowners on Main Street and not just bail out Wall Street. Ninety-five Democrats voted against the bailout bill because it did not do nearly enough for families struggling to pay the mortgage and who are teetering on the brink of foreclosure. If a better plan comes back that will do more to assist struggling homeowners, it stands a chance of passing.

"The foreclosure crisis, which did not begin last week but more than a year ago, will continue unabated by the current bailout proposal. To really solve our broader economic woes, we must address the underlying problem of unnecessary foreclosures. One critical way to do this is to include bankruptcy shelter in the bailout package, which was dropped from the negotiations over the weekend.

"Another way to stem foreclosures is to include tighter language directing the Treasury Secretary to prioritize purchasing those distressed assets like whole mortgages where Treasury would have the authority to modify the mortgages and avoid unnecessary foreclosures. Additionally, Treasury could be directed not to purchase any securities or other assets that lack such authority to modify. This would ensure that the public's investment in Wall Street's bad assets actually results in a reduction in foreclosures, so that we can stabilize home prices and restore liquidity in a permanent way to our markets. That's the recipe for a bailout in which both Main Street and Wall Street can benefit."

[Wil H]

Piss Off ACORN!

Not a Penny!

[Cicero]

This could be a danger. We have to make sure that if necessary Bush gives advance warning that he will veto a bill that funds ACORN. Otherwise, the Dems might pass it without Republican help.

I imagine a lot of CBC members voted against the bill after ACORN was excluded, and they would come back on board.

[LikeLight]

These socialist thugs are relentless.

NOT A DIME FOR ACORN, EVER!

[sunmars]

I hope the republicans let it be known, if ACORN is anywhere near this bill, it will be total republican opposition.

[mouse1]

“Gee, lets just give everyone a free house.”
These people are really beginning to piss me off.

[willk]

My first experiance with ACORN was reading about how they were trying to force the city of Folsom, Ca to include more low income housing into some of the new housing tracts.

[randita]

I doubt there were 95 who voted against this because of ACORN. Quite a few of those 95 are in swing districts and were afraid of the voters.

[randita]

We have to make sure that if necessary Bush gives advance warning that he will veto a bill that funds ACORN.

The Dems would LOVE it if Bush vetoed their bill. Then they could lump him in with all the other wascally Wepublicans who want us all to die.

[MadMax, the Grinning Reaper]

Time for a federal grand jury investigation of ACORN and all involved with it.