Bailout Update: Chairman Frank Wants to Funnel $100 Million in Taxpayer Funds to Corrupt Liberal Housing Group

Press Release

Today, Rep. Dave Weldon (FL-15) issued the following statement on the Paulson bailout plan negotiations:

"While the media has been reporting Rep. Barney Frank's accusation that House Republicans are to blame for stalling the bailout, the true deal-breaker is Franks' own language in the bailout package that would funnel tens of millions of dollars of taxpayer funds to the liberal activist organization ACORN and other Democrat political-action groups."

A provision being pushed by House Financial Services Chairman Frank and his Senate counterpart, Sen. Chris Dodd would direct 20 percent of all proceeds from the bailout - which could amount to over $100 million - to the Housing Trust Fund, which Democrats have been pushing to create for several years to directly fund groups like ACORN.

The Association of Community Organizations for Reform Now, aka ACORN, has seen several of its workers indicted for voter fraud, and has been investigated by the Justice Department and several states attorneys general. ACORN is currently conducting a massive registration drive across the nation for Sen. Barack Obama, while simultaneously receiving federal grants to promote their low-income housing agenda. As history demonstrates, the line between the two is often indistinguishable. Here are just a few examples (visit weldon.house.gov for links):

Source