Reed's housing effort for poor part of new housing law
10:25 AM Wed, Jul 30, 2008 | Permalink
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Projo Politics Blog |
WASHINGTON -- Rhode Island Sen. Jack Reed's long-sought housing initiative for poor people has become law. A fund for the construction and repair of rental housing for the poor is at the heart of the housing rescue bill that President Bush signed into law without fanfare this morning. The huge bill aims to sure up the secondary mortgage market giants, Freddie Mac and Fannie Mae, and to stem the tide of mortgage foreclosures that is running into the hundreds of thousands nationwide. A key to enactment of the bill with bipartisan support was a financing mechanism, largely Reed's handiwork, that does not rely on direct taxation. Instead, a fund to pay for the refinancing of delinquent mortgages will be built on fees imposed on transactions with Fannie Mae and Freddie Mac. In the first part of its life, the lion's share of the fund will cover the mortgage rescue program, with a fraction going to the program for low income families. But eventually the permanent fund will be wholly devoted to the housing initiative for poor people -- a goal that a number of congressional Democrats, including Reed, pursued for years. -- By John E. Mulligan, Journal Washington bureau 
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Dear John Mulligan, I think that you may have already suspected this for years, but I am here to tell you that you are a sell-out. You have traded your soul to maintain your semi-fame/ status as a NON-journalist in the most corrupt newspaper in the most corrupt state in the nation. If Jack Reed, who by the way has taken over 4 million dollars just this election cycle alone, was truly interested in the poor, then he would not have caused the mortgage crisis in the first place, by de-regulating the big banks while at the same time pocketing thousands of dollars from those same banks (including, interestingly enough, Fannie Mae.) I will be voting for Christopher Young this September against Jack Reed.
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Jen,focus,it is Jack Reed who is the "sell-out".
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Good point Mary! :) You're right. It is Reed who is the sell-out, but I also feel I should call out Mulligan and all of the other complicit media hacks who desperately try to make the crooked look good. These writers, editors, publishers, station managers, etc. are all purposefully keeping the real stories from the general public. They mistakenly think they are all powerful and that they can just keep on being blatantly deceiptful and somehow won't be accountable to God - and they are wrong. Day after day in the Journal we see pathetic, man-crush front page articles on Jack Reed, which all conveniently neglect to mention all the horrible things Reed has done that have caused the very messes that he now has the nerve to try to get credit for trying to fix! He is a CAUSE of these problems! It is the definition of irony! How many articles have we read in the Projo about Christopher Young, who is running against Jack Reed in the democratic primary this September 9th? Not many, huh? They do not cover Chris Young because he speaks the truth, and they are obviously not interested in the truth. They DO NOT WANT to inform the people, and they are NOT journalists.
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