ACORN & Congress :: National Review Online

"No one disputes that secondary-mortgage giants Freddie Mac and Fannie Mae need reform. But congressional Democrats look at a reform bill moving through the House as an opportunity to crack open a honey pot for their political allies. Led by House Financial Services Committee chairman Barney Frank, they have written into the bill a provision that would pump money into the coffers of radical liberal activists."

The bill, which was recently approved in the House Finance Committee and will likely be up for a vote today, calls for the creation of an “affordable-housing fund” to be financed by Freddie Mac and Fannie Mae. Those responsible for this provision maintain that the fund is intended to direct money toward housing programs that would benefit the poor. During the first year, a Finance Committee press release says, the money would be largely directed toward areas affected by Hurricane Katrina.

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