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October 7, 2008
ACORN got a piece of the bailout pie
Topics: Political News and commentariesMichelle explains how ...
Continue reading and be prepared to get mad as hell: How ACORN got a piece of the bailout pie.If you thought the trillion- dollar-plus "financial-rescue plan" signed into law Friday had been stripped of the radical group ACORN, think again: The Chicago-based Association of Community Organizations for Reform Now's fingerprints are still all over the law.
ACORN's participation in "fixing" a crisis it helped create is flabbergasting.
For decades, the left-wing activist group pressured lenders to give loans to lower-income borrowers who couldn't otherwise afford homes. The grateful homeowners then become political recruits, serving as foot soldiers for ACORN's radical agenda.
Problem is, such mortgages are now going bad all across America. ACORN's answer: Pressuring the banks not to foreclose on bad risks. And now, with the "rescue" bill, they're getting ready to simply rewrite mortgages to make them affordable.
House Republicans removed one pro-ACORN measure from the rescue bill - torpedoeing a provision devoting 20 percent of all profits from the bailout to a housing slush fund - which would've funneled money to ACORN and similar groups.
In its place, however, ACORN's favorite lawmakers - led by Maxine Waters (D-Calif.) and Barney Frank (D-Mass.) - got ACORN-championed "foreclosure-mitigation" provisions into the rescue.
And just to help you remember who caused the financial crisis in the first place - certain liberal Democrats - here's a reposting of Burning Down the House:
Posted by Abdul at October 7, 2008 10:10 AM
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- ACORN got a piece of the bailout pie - Oct 07, 2008
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