Obama to sign stimulus bill Tuesday in Denver | Reuters

Obama to sign stimulus bill Tuesday in Denver | Reuters: "CHICAGO, Feb 14 (Reuters) - U.S. President Barack Obama on Saturday hailed congressional approval of a $787 billion economic stimulus bill as a 'major milestone on our road to recovery' and the White House said he would sign the legislation on Tuesday in Denver.

'I will sign this legislation into law shortly, and we'll begin making the immediate investments necessary to put people back to work,' Obama said, savoring his biggest legislative victory since taking office on Jan. 20."
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Did anybody else notice that this bill provides aid to just about every private and public institution in America except homeowner and condominium associations? Moreover, I gather there will be additional "recovery" legislation that won't benefit associations. The banks will get another infusion of monopoly money. Something will be done for the auto industry. And I think there will be a special cornucopia for the housing industry, including people with too much mortgage and too little house.

However, I will be surprised if the federal government provides aid to the many struggling community associations. In fact, there could be an additional burden. If Congress decides to protect people against mortgage foreclosure, those folks will still have to pay their assessments, but they won't be getting any money from Congress to do that. And if they don't, which is entirely possible, they will be foreclosed on anyway, by their association.

If the "stimulus" bill works and the economy recovers, all the boats will float. But if the recession continues we may see another round of institutional failure as thousands of the nation's private governments head into insolvency.