Black Caucus Nets $10 Billion In Boycott

Your tax dollars at work because the 40 member Congressional Black Caucus decided to walkout, staging a boycott on a bill on banking regulations. To secure their votes, Barney Frank and company simply reached into your pocket and came up with, if I read this correctly, 10 billion dollars for them. Democracy, or blackmail? Is there really much of a difference between the two in Washington these days, where votes are always up for sale?

By boycotting a key House committee vote last week and threatening to abandon support for banking regulations, members of the Congressional Black Caucus got $4 billion added to a Wall Street regulation bill and $2 billion to a proposed House jobs bill in spending they sought for African American communities.

House Financial Services Committee Chairman Barney Frank, D-Mass., this week inserted $3 billion to the legislation to provide low-interest loans to unemployed homeowners in danger of foreclosure. He added $1 billion for neighborhood revitalization programs.

The money would come out of the $700 billion financial rescue fund.

Comments

[unseen]

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[Al in St. Lou]

Our think our Founding Fathers' minds would boggle at the corrupt mess our federal government has become. I think it's exactly what they wanted to avoid.

[chsw]

That's about $300,000 per constituent in those districts. It would be much better for the USA if the Congress simply handed the money over to the constituents.

[Anon]

The saddest thing is that all those billions will just go down the same black hole [no pun intended], that all the rest of the money for poor communities goes..it will go into the pockets of the politicians and their cronies, it will be siphoned off by fraudsters and maybe a tiny sliver will go to the people and programs it is supposed to.

And everyone knows this, including Barney Frank and the Black Caucus.

[Old Trooper]

The perpetuation of Racism, practiced by Congress. Throwing Tax Payer funds at a Racist organization and no one bats an eye on Capitol Hill. Is this Reparations by another name? Whats worse yet is that it is money borrowed from the future generations that never bought, sold or owned slaves, nor did I for that matter. Racism, Bribery and misappropriation of Public Debt, not funds. The Government is broke.

[xerocky]

"House Financial Services Committee Chairman Barney Frank, D-Mass., this week inserted $3 billion to the legislation to provide low-interest loans to unemployed homeowners in danger of foreclosure. He added $1 billion for neighborhood revitalization programs."

Low interest loans to unemployed homeowners? Where have I heard that before Barney?

Ok, they get the money and they pay the loan with it. Now what? How is he going to pay back...oh forget it.

"Is this Reparations by another name?"

No. It's not reparations because reparations would have to, by definition, be called reparations. Otherwise those who receive this money will simply be able to say "I don't remember getting reparations". Crazy as it sounds reparations may at this point be the way to go. It's like buying out a contract. This is it. Here's your $300K. Now shut up. Forever.

[mike]

i dont see whats wrong with what they did. far more billions of dollars are wasted on other trivial things. i'd rather see the bailout money help people in the trenches than the banks