New Slush Fund for Fannie and Freddie to Exclude Regular Appropriations Process

David Broder in The Washington Post praises the new slush fund for Fannie and Freddie to buy influence:

The National Housing Trust Fund does not depend on annual appropriations by Congress, which might never arrive, given the size of the federal budget deficit, the costs of two wars and runaway health-care programs.

Instead, it taps a portion of the profits that Fannie Mae and Freddie Mac make on their mortgage loans, estimated to yield at least $300 million a year and perhaps as much as $700 million.

Having politicians on the pad really pays off.