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When Community Organizers And Big Government Force Banks To Give Bad Loans
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Rob - 08:09am on 09/29/2008
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Aren’t Obamas ties with ACORN illegal?

Zsa Zsa - 08:09am on 09/29/2008

Since 1965, libs have mandated- and spent $5400 billion [5.4 trillion]on the same high-risk folks, often minorities living in unstable neighborhoods.

So what’s another $700 billion?

Joel - 09:09am on 09/29/2008

Joel.  You are correct.  The socialDemocrats are trying to lie their way out of their past crimes against the common people.  Forcing someone to loan money should be prosecuted.  If an ordinary person did that, he or she would be arrested for robbery.  Here is my entry.

Chief RZ - 12:09pm on 09/29/2008

So, exactly how left wing are Acorn and La Raza?

Hungry Bear - 01:09pm on 09/29/2008

ACORN has repeatedly been associated with voter registration fraud.

In Ohio in 2004, four ACORN employees were indicted by a federal grand jury for submitting false voter registration forms.

In January 2005 two Colorado ACORN workers were sentenced to community service for submitting false voter registrations.

On November 1, 2006, four part time ACORN employees were indicted in Kansas City, Missouri for voter registration fraud. Prosecutors said the indictments are part of a national investigation.

ACORN was investigated in 2006 for submitting false voter registrations in St. Louis, Missouri. 1,492 fraudulent voter registrations were identified.

In 2007, five Washington state ACORN workers were sentenced to jail time.[

ACORN agreed to pay King County $25 000 for its investigative costs and acknowledged that the national organization could be subject to criminal prosecution if fraud occurs again.

In 2008, the Michigan Secretary of State office told the Detroit Free Press that ACORN had been submitting a sizeable number of duplicate and fraudulent applications to vote.

Hungry Bear - 01:09pm on 09/29/2008

Bear.  And these are merely the most blatant examples that prosecutors could not overlook.

Chief RZ - 01:09pm on 09/29/2008

community organizers help to undermine the US economy by pushing the banking system into a sinkhole of bad loans. And Obama has spent years training and funding the organizers who do it.

Any bank that wants to expand or merge with another has to show it has complied with CRA - and approval can be held up by complaints filed by groups like ACORN.

In fact, intimidation tactics, public charges of racism and threats to use CRA to block business expansion have enabled ACORN to extract hundreds of millions of dollars in loans and contributions from America’s financial institutions.

In February 1990, Illinois regulators held what was believed to be the first-ever state hearing to consider blocking a thrift merger for lack of compliance with CRA. The challenge was filed by ACORN, led by Talbott. Officials of Bell Federal Savings and Loan Association, her target, complained that ACORN pressure was undermining its ability to meet strict financial requirements it was obligated to uphold and protested being boxed into an “affirmative-action lending policy.” The following years saw Talbott featured in dozens of news stories about pressuring banks into higher-risk minority loans.

IN April 1992, Talbott filed an other precedent-setting com plaint using the “community support requirements” of the 1989 savings-and-loan bailout, this time against Avondale Federal Bank for Savings. Within a month, Chicago ACORN had organized its first “bank fair” at Malcolm X College and found 16 Chicago-area financial institutions willing to participate.

The Woods Fund report makes it clear Obama was fully aware of the intimidation tactics used by ACORN’s Madeline Talbott in her pioneering efforts to force banks to suspend their usual credit standards. Yet he supported Talbott in every conceivable way. He trained her personal staff and other aspiring ACORN leaders, he consulted with her extensively, and he arranged a major boost in foundation funding for her efforts.

And, as the leader of another charity, the Chicago Annenberg Challenge, Obama channeled more funding Talbott’s way - ostensibly for education projects but surely supportive of ACORN’s overall efforts.

Hungry Bear - 02:09pm on 09/29/2008

Excellent work HB ! !

Joel - 02:09pm on 09/29/2008

Acorn is a really scary group of left wing fascists.

Hungry Bear - 02:09pm on 09/29/2008

Et tu Rob? Blaming the CRA for this mess is nothing more than wishful thinking by cranky conservatives.

And they call liberals the dreamers. wink

MikeAdamson - 02:09pm on 09/29/2008
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