The Mortgage Bailout Bill Gets Weirder and Weirder
The mortgage bailout bill sailing through Congress gets weirder and weirder. It turns out that in order to circumvent the Constitution, which says that tax bills have to “originate in the House,” not the Senate, Congress filled the “hollowed-out shell” of a House energy bill with housing tax provisions that actually originated in the Senate.
As we earlier explained, the mortgage bailout bill will cost taxpayers billions, bail out irresponsible lenders, and encourage borrowers to default, while subsidizing left-wing groups that harass bank managers’ kids to coerce them into making bad loans. The mortgage bill will subsidize the radical group ACORN, which has concealed embezzlement and engaged in massive voter fraud.
The Consumers Rights League recently released a whistleblower report on ACORN’s misuse of taxpayer dollars, and renewed its call on House Financial Services Committee Chairman Barney Frank to initiate an investigation into ACORN. (Ironically, Barney Frank is the Congressman most responsible for putting handouts for left-wing groups into the mortgage bill, which Frank admits pays an economic “ransom“).