There's more to the housing bailout measure than meets the eye, says a Minnesota lawmaker. She contends that members of Congress need to be called back to Washington to reverse the measure that, among other things, sends millions of taxpayer dollars to a radical illegal immigration advocacy group.
The housing package signed into law by President Bush extends an unlimited line of credit to troubled mortgage giants Freddie Mac and Fannie Mae and rescues homeowners near or in foreclosure. The measure also increases the federal debt limit by another $800 billion -- and sends millions of dollars in aid to La Raza and the Association of Community Organizations for Reform Now, or ACORN. Representative Michele Bachmann (R-Minnesota), a member of the House Financial Services Committee, says she finds it "unconscionable" that the legislation included funding for the two groups, which serve as political action arms of the Democratic Party. "At the same time that the American taxpayer was being asked to bail these companies out, Barney Frank, the chairman of the Financial Services Committee, instituted a sort of tax on Freddie and Fannie, and that tax goes into what's called an affordable housing trust fund," explains Bachmann. "It's a really a taxpayer-subsidized housing fund, but that money will go to organizations like La Raza and...ACORN." Both groups -- "particularly ACORN," says Bachmann -- have been found to be involved in "activities where they have perpetrated voter fraud," she contends. Bachmann advises Congress to get back to Washington, stop the funding stream for ACORN and La Raza, and also get American taxpayers off the hook for bailing out Fannie Mae and Freddie Mac.
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