"TRANSFER OF A PERCENTAGE OF PROFITS. DEPOSITS.Not less than 20 percent of any profit realized on the sale of each troubled asset purchased under this Act shall be deposited as provided in paragraph (2). USE OF DEPOSITS.Of the amount referred to in paragraph (1) 65 percent shall be deposited into the Housing Trust Fund established under section 1338 of the Federal Housing Enterprises Regulatory Reform Act of 1992 (12 U.S.C. 4568); and 35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569). REMAINDER DEPOSITED IN THE TREASURY.All amounts remaining after payments under paragraph (1) shall be paid into the General Fund of the Treasury for reduction of the public debt." With math like this no wonder this economy is in the toilet. But more importantly, WHY THE FUCK WOULD I WANT MY MONEY GOING TO HOUSING PROJECTS? This is why the democrats are so damn hateable.
What's wrong with the math? Or are you one of those anti-elitists who thinks math is a filthy liberal trick?
Umm....you might want to redo percentages 101. 65% for housing...35% for general capital = 100% Nothing left for Treasury
The math part is just math. It's the "directing of profits, if any" to socialized costs instead of paying back the ones who footed the bill. You don't see anything Commie about that? Or worse yet, it doesn't bother you any?
The original poster might want to redo copy-and-pasting 101. I think if you saw the section with paragraph numbers, you'd realize there's plenty left for the Treasury.
If NASA finds that a comet is heading to the earth and asks $50b to explode it, barney frank will demand that any money not used to be directed to provide housing to low income blacks
There is an earmark in that ridiculous garbage for Acorn, Obama's street organizing people that get busted all the time for illegal voting registrations......
Thank You! Not to mention how that rude, abnoxious, runt , piece of shit Barney Frank and his slimy counterpart Reid have been distorting the facts to the media. I am glad the Rep House finally came out and set it straight.
Incorrect. Re-read the original post carefully, and note the clause "of the amount referred to in paragraph (1)". 20% or more will be allocated to Housing Trust Fund and Capital Magnet Fund. The rest will go to Treasury.