Thread: Here is the latest bailout draft bill...

Here is the latest bailout draft bill if you can’t access the House website
By Michelle Malkin • September 28, 2008 06:14 PM The House website is down.

I’ve uploaded the most recent bailout draft bill right here:
Click: http://michellemalkin.com/wp/wp-content ... 04_xml.pdf

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Via N.Z. Bear, here’s a quick-and-dirty, section-by-section analysis of the latest draft going around the Hill:

SECTION-BY-SECTION ANALYSIS OF THE LEGISLATION

Section 1. Short Title.

“Emergency Economic Stabilization Act of 2008.â€

Section 109. Foreclosure Mitigation Efforts.

For mortgages and mortgage-backed securities acquired through TARP, the Secretary must implement a plan to mitigate foreclosures and to encourage servicers of mortgages to modify loans through Hope for Homeowners and other programs. Allows the Secretary to use loan guarantees and credit enhancement to avoid foreclosures. Requires the Secretary to coordinate with other federal entities that hold troubled assets in order to identify opportunities to modify loans, considering net present value to the taxpayer.

Section 110. Assistance to Homeowners.

Requires federal entities that hold mortgages and mortgage-backed securities, including the Federal Housing Finance Agency, the FDIC, and the Federal Reserve to develop plans to minimize foreclosures. Requires federal entities to work with servicers to encourage loan modifications, considering net present value to the taxpayer





Is one to assume that this is where illegal aliens, and every other person who should never have been granted a mortgage in the first place, or intentionally bit off more than they could chew, is permitted to keep that home and we get to pay for it?

Is one to assume that this is where illegal aliens, and every other person who should never have been granted a mortgage in the first place, or intentionally bit off more than they could chew, is permitted to keep that home and we get to pay for it?[/quote]

Yep, this is what I have been hearing.

Originally Posted by timeforchange

Is one to assume that this is where illegal aliens, and every other person who should never have been granted a mortgage in the first place, or intentionally bit off more than they could chew, is permitted to keep that home and we get to pay for it?

Yep, this is what I have been hearing.[/quote]


That is how I interpret it

Welcome to the soviet states of america

This bill is just what Nazi Paulson wanted huh? Don't you just want to puke? Doesn't it make you sick that these traitors are selling us down the road and screwing our country and don't even care. I hope they all rot in hell.

I am angry so I am just ramblin. I bet this guy thinks he is God with all of the power they are giving him and his buddies.

We should declare null and void all home loans to illegals bought with stolen identities and lies.
Why not give those homes to our returning soldiers. If I must pay for a home for others, I would rather give a home to a true American Patriot than enemy invaders.