Interesting..a bill was already passed for 500 million for bail out. just months ago..but I don't recall hearing about this one..

OpenMarket.org Archive An Untrustworthy Housing Fund — Housing bill has likely ACORN slush Fund

But the granddaddy of all phony government trust funds may be soon enacted in housing bailout legislation before Congress. The so-called Affordable Housing Trust Fund — part of the legislation that passed the Senate Banking Committee in May and is poised to come to the Senate floor as early as this week — is almost set up from the beginning to be diverted to purposes other than affordable housing. The holes in this “trust fund” would allow the money to be easily siphoned off to liberal activist groups such as Association of Community Organizations for Reform Now (ACORN) for lobbying and even political campaigning.

Long a priority of groups on the Left, the “trust fund” — also called the “affordable housing fund” — would get its revenues from a legislatively fixed share of the surpluses of the government’s Federal Housing Administration or the profits from the government-sponsored enterprises Fannie Mae and Freddie Mac. The latest version — in the housing and GSE oversight bill that cleared the Senate Banking Committee in May — would establish the fund by taking 1.2 basis points of interest from Fannie and Freddie’s loan portfolio — about $500 million a year.

Enacting an off-budget funding entity for housing has long been a goal of Rep. Barney Frank, and since he became chairman of the powerful House Financial Services Comittee when the Democrats took Congress back a year and a half ago, he has inserted several versions of the “trust fund” into many housing bills. “Given our severely constrained fiscal realities,” Frank has argued, there needs to be “a low income housing trust fund that will be paid for in ways that do not draw from federal tax revenues.”