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An inconvenient truth…and here comes the lard-up; Update: Full speed ahead

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By Michelle Malkin  •  September 25, 2008 09:47 AM

Scroll down for updates…the latest on the bailout developments here…3:55pm Eastern…Obama and McCain to White House…

Many critics of the Mother of All Bailouts have finally caught on to how the minority grievance-mongering racket helped fuel the subprime debacle.

The easy, obvious part is criticizing Jimmy Carter and Jesse Jackson and ACORN.

But as I’ve reported, it was the Bush administration that presided over hundreds of millions of dollars in grants to left-wing housing entitlement zealots.

More cringe-inducing inconvenient truths about Bush’s responsibility here.

Read it and weep.

And then call your congressman again and tell them: Kill the Bailout.

***

Here it comes: The inevitable lard-up. Just like last time and every time (see here):

The cost of the $700 billion bailout bill, criticized as unconstitutional by legal scholars, is rising, as Congressional leaders demand new handouts for deadbeats in exchange for passing it (ignoring cheaper solutions to the financial crisis). Now, there will be foreclosure “relief” at taxpayer expense. The government is going to use its role “as the biggest mortgage holder in town” to give special breaks to borrowers who are behind on their mortgage payments, rather than to stem the financial crisis.

“Democratic demands that Congress be given greater authority over the bailout and that the government be required to help homeowners renegotiate their mortgages so they have lower monthly payments already have been accepted in principle. Under the bailout bill, which will let the government buy huge amounts of toxic mortgage-related assets, ‘we’re now the biggest mortgage holder in town, and we can do serious foreclosure avoidance,’ [liberal Congressman Barney] Frank said.’”

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