Housing and Economic Recovery Act of 2008

[Barry Digman]

Here is the link to the first pass that the NAR posted on their web site. Without digging in to the details, the one bulleted item that catches my attention is the CDBG Funding provision. $4 B-b-b-b-b-billion dollars for communities to purchase foreclosed homes.

This has fraud written all over it. Communities are going to be falling all over themselves to spend the Community Development Block Grant money to revitalize their blighted neighborhoods, and will not bother to ask too many questions.

http://www.realtoractioncenter.com/housing-bill-summary.html

[mike haney]

too much money for congress to responsibly handle this quickly. i suspect the impending fall election may have had some bearing on the rush to pass a bill...

[JPK1NH]

The passage of this bill is in my opinion one of the most shameful things I can recall Congress doing in a long time....well maybe not that long.....they just passed the pork laden Farm Bill about a month back.

Pelosi and Reid should be ashamed......their historically low 9% approval rating should sum up their performance quite nicely.