Dems Housing Bill Includes Handouts to Scam Artists, Speculators, Trial Lawyers? and

[TheWatchdog]

John Boehner - House Republican Leader
Washington, May 6 - Democrats are prepared to bring to the House floor legislation purportedly written to assist Americans impacted by the recent housing slump. But in recent days, it has become increasingly clear who this legislation is really out to serve: scam artists, speculators, and trial lawyers.
That’s right: [...]<script type="text/javascript">SHARETHIS.addEntry({ title: "Dems Housing Bill Includes Handouts to Scam Artists, Speculators, Trial Lawyers… and La Raza?", url: "http://www.immigrationwatchdog.com/?p=6453" });</script>

More... (http://www.immigrationwatchdog.com/?p=6453)

[Star]

Another massive mortgage boondoggle–and one lone dissenting vote.
By Michelle Malkin

RAZA HOUSING EARMARK TO BE SLIPPED INTO ENERGY BILL HR 3221.

The Senate is on its way to passing yet another massive mortgage boondoggle. It would pile billions of dollars more in stimulus-palooza spending on top of the $152 billion already passed into law and radically expand government’s role in meddling with private contracts.

Last night, members voted on a cloture motion to push forward with the housing measure giving judges the authority to alter mortgage contracts and give them the power to cut interest rates on troubled subprime mortgage loans–in addition to doling out hundreds of millions of dollars for “counseling” that would go to left-wing activist groups like ACORN and La Raza (see also my column today on housing entitlement thug Bruce Marks.)

Here’s the roll call vote (just so you’re not confused: HR 3221 is an energy bill which the Senate plans to amend by the substitution of the text of S. 2636, the Foreclosure Prevention Act):

http://michellemalkin.com/wp/wp-content/uploads/2008/04/1housevote.jpg

Only one lone dissenter in the Senate, GOP Sen. Jim Bunning of Kentucky, voted no. (You’ll note that all three presidential candidates were no-shows. And you may remember that McCain skipped out on another big stimulus-palooza vote in February.

That is a true maverick. He joins the 25 House Republican mavericks who opposed the stimulus boondoggle in upholding economic conservative principles.

Sen. Bunning nails it in this summary of one of Sen. Chris Dodd’s pet proposals:

Problem: Homeowners who have fallen behind on their mortgage payments are more than twice as likely to go into foreclosure as they are to reach a loan modification agreement with their lender, according to the Washington Post.

Proposal: A Home Ownership Preservation Corp., backed with $20 billion of taxpayer money, would buy up failing mortgages in bulk and renegotiate terms with borrowers.

Status: The corporation is the brainchild of Senate Banking Committee Chairman Christopher Dodd, D-Conn., who has not yet formally introduced legislation.

Sen. Jim Bunning, R-Ky., is among the plan’s most vocal critics, calling it “a bailout for borrowers and investors who made bad decisions.”

Hell NO!!
The Senate switchboard: 202-224-3121.

[Star]

The Senate switchboard: 202-224-3121.

BUMP

Paging John McCain:
GOP House leader Boehner rips La Raza earmark
By Michelle Malkin
May 6, 2008, 06:33

PM House Republicans are spreading the word about the La Raza earmark in the pork-laden housing bill that I’ve been reporting on (see here and here).

Fresh from the desk of House GOP leader John Boehner:

House Democrats quietly tucked another giveaway into the long, complicated bill in order to benefit their political allies with virtually no prior public scrutiny or debate.

Take a look at this political giveaway – “Assistance for the Raza Development Fund” – straight from the text of the bill:

(c) ASSISTANCE FOR RAZA DEVELOPMENT FUND.—

(1) USE.—The Secretary of Housing and Urban Development may make a grant to the Raza Development Fund for the purpose of providing technical and financial assistance to local non-profit organizations to undertake community development and affordable housing projects and programs serving low- and moderate-income households, particularly through organizations located in neighborhoods with substantial populations of income-disadvantaged households of Hispanic origin. Assistance provided by the Secretary under this subsection may be used by the Raza Development Fund…

(2) AUTHORIZATION OF APPROPRIATIONS.— There is authorized to be appropriated for grants under this subsection—

(A) $5,000,000 for fiscal year 2008; and
(B) $10,000,000 for each of fiscal years 2009 and 2010.

In short, House Democrats are expecting American taxpayers to shell out $25 million to the Raza Development Fund – an arm of the National Council of La Raza and Democratic political ally that has made its name by promoting pro-illegal immigration policies and opposing real border security.

American families are struggling with rising costs for everything from gasoline to food to mortgages. Times like these require Congress to work in a bipartisan way on behalf of the American people. But instead, this Democratic Majority has produced a bill that rewards scam artists, speculators, trial lawyers, and political allies like La Raza…all at the expense of taxpayers and homeowners who really need help. Sadly, it’s yet more example of what American taxpayers have come to expect from a broken Washington under the leadership of House Democrats.

http://michellemalkin.com/2008/05/06/paging-john-mccain-gop-house-leader-boehner-rips-la-raza-earmark/