House Republicans refused to support the Henry Paulson/Chris Dodd compromise bailout plan yesterday afternoon, even after the New York Times reported that Treasury Secretary Henry Paulson got down on one knee to beg Nancy Pelosi to compromise. One of the sticking points, as Senator Lindsey Graham explained later, wasn’t a lack of begging but a poison pill that would push 20% of all profits from the bailout into the Housing Trust Fund  a boondoggle that Democrats in Congress has used to fund political-action groups like ACORN and the National Council of La Raza.
Ah. Well that wasn’t so hard to see coming.
Pingback by Why is ACORN in The Bailout? | Right Voices on 9/26 @ 2:01 pm #
[…] Boondoggle […]
Comment by sdferr on 9/26 @ 2:19 pm #
The ideological blinders of many (not all) of the financial and political press has resulted in a “story” so far from the truth of events that now those same media people find themselves utterly incapable of reporting the fast moving public events taking place before their (and our) eyes.
Men and women (like John Harwood, for instance) are like certain brain injury patients described as having “blind sight”. Due to an injury on one side of their visual cortex, and though their eyes and the pathways to their visual processing centers still function fine, they cannot “see” half of their visual field.
It is not as though an eyepatch has been laid on the right eye. In that case the left eye can still send signals to an intact brain, which can then process information about the right half of the visual field.
In blind sight, both eyes send the incoming signals containing information from both sides of the visual field on to the brain but there is simply no processor for one half of the field at all. What the sufferer “sees” is nothing on injured side. It is black, or blank.
And so it is with these journalists.
Pingback by ACORN: Cashing In On the Crisis They Helped Cause on 9/26 @ 6:14 pm #
[…] I’ve linked to Morrissey’s piece where he talks about the poison pill inserted into the bail-out legislation by the Democrats, that would give 20% of any monies realized by the bail-out to ACORN and ACORN-linked groups. Reaching into the wayback machine, Stan Liebowitz outlines the outrage of this Dodd-inserted clause. […]
Trackback by But As For Me... on 10/6 @ 3:20 pm #
Video: Jim Cramer from Mad Money Says PULL OUT of Stock Markets
President Bush’s 700 billion bailout plan is not working because few have confidence the plan help and banks are not increasing lending. Furthermore, the bailout plan has yet to hit early benchmarks Paulson outlined during Capitol Hill testimon…