ACORN, Obama, Fannie Mae / Freddie Mac, & Economic Crisis
Obama’s Fingerprints All Over Fannie Mae / Freddie Mac & The Economic Crisis
The deeper you look into the ACORN / Obama association the more you see the liberal socialist Barack Hussein Obama’s fingerprints are on the Fannie Mae / Freddie Mac and economic crisis. The Fannie Mae / Freddie Mac crisis is the foundation of the current economic crisis. Barack Hussein Obama has over a 20 year history with the corrupt ACORN.
ACORN saw their first opportunity with the passing of the Community Reinvestment Act (CRA) of 1977. The CRA was passed by the Democratic Congress and signed by Jimmy (the peanut farmer) Carter. ACORN proudly touted “affirmative action” lending and pressured banks to make subprime loans.
Madeline Talbott, the Chicago ACORN leader bragged of “dragging banks kicking and screaming” into making dubious loans. ACORN became an “advisor” to banks seeking regulatory approval. Suddenly hundreds of thousands of dollars were donated to ACORN as the ACORN corporate shakedown began. Many large corporations found themselves paying ransom to ACORN.
Liberal socialist Barack Hussein Obama started with ACORN in his youthful “community organizing” days. Madeline Talbott hired Obama to train her staff at ACORN. Barack Hussein Obama was now training the very people who descended on the Chicago banks as CRA shakedown artists. Later through the Woods Fund, on whose board he sat, and through the Chicago Annenburg Challenge, where Obama was board chair, millions of dollars were being funneled to ACORN and others. Obama also legally defended ACORN on several occasions against voter fraud. Barack Hussein Obama was and still is a big part of ACORN, his campaign donated over $800,000 to them.
The issue jumps from politics to politician when you consider the “community organizer” role the liberal socialist Barack Hussein Obama is so proud of. It is public record that Obama worked for ACORN where he sued financial institutions to force CRA compliance. It is no secret that Obama continues to support the strategies and goals of ACORN. America this puts Obama on the front line in the creation of the Fannie Mae / Freddie Mac crisis and the subsequent economic crisis that followed shortly thereafter.
You could possibly make the case that before 2008, well-intentioned people were simply unaware of what the long term effect would be of so many non-credit-worthy borrowers receiving mortgages. They may not have imagined it would lead where it did. After all, Barney Frank and his other liberal socialist democrat friends denied there was a problem back then and still today refuse to take any responsibility for the crisis themselves. Now though with the whole financial world and possibly the world economy trembling and cracking like a cement building in an earthquake, what do the Democrats do? They continue to try to fund their friends at ACORN at the expense of the taxpayers of the United States. Then, unashamed, they trot out to the TV cameras to declare "the party is over" for Wall Street (Nancy Pelosi). What about the party for the Democrats, what about all the money they received from Fannie Mae and Freddie Mac? Isn’t it their party that should be cancelled? The Democrats and Barack Hussein Obama blame the Bush administration and Sen. McCain for what they have caused. Can you imagine if Obama wins, it will be equal to putting the fox in charge of the henhouse.
WAKE UP AMERICA!!! OBAMA is a big part of the Fannie Mae / Freddie Mac economic crisis America is now suffering from!!!!
Speak Now America! we want to hear from you.
After all the unfavorable things came out regarding Barack Obama and his devotion and affiliations with Reverend Wright, William Ayers, Frank Rezko, Louis Farrakan and Freddie Mac - I do not understand how any people could be supporting him.
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I dont either Helen people must be voting for him because he is a good speaker, boy are they in for a surprise if he manages to get elected. He may steal enough votes to get over the edge, lets hope not! Keep spreading the word McCain/Palin 08!!!!
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I am always the optimist... the market will correct with conservation, exploration, and/or consumer choices.
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It is great to have an optimistic attitude, sadly our economy seems to be spiraling out of control with everyone and their brother getting in line to hold their hands out for a bailout. To even remotely consider a bailout of the Big 3 when the unions aren't willing to make concessions is insanity. Large companies have had to file Ch. 11 and reorganize. The automakers don't want to do it of course because it would mean trimming management, light, the unions would be gone and the wages would be brought down to a more manageable and reasonable amount. The overpaid employes might just have to pay for a portion of their health insurance like the other 90% of workers in this country. If they are smart they will vote to make concessions, if not they can get in line at the unemployment office like so many others.
Deena, Editor
SpeakNowAmerica.org
ds@speaknowamerica.org
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It is your taxpayer dollars that are given to HUD (US Department of Housing and Urban Development), which in turn give money to NACA - Neighborhood Assistance Corporation of America. HUD gives money to ACORN and other agencies that do this and much worse. They (HUD-financed ageny) are not regulated either. You need to write your elected officials and request that they REDUCE HUD funding, and cite this as a reason. It is not just if you are a lender, mortgage broker, or realtor, to be concerned. All citizens should understand what is happening here.
January 09
http://www.urbanitebaltimore.com/sub.cfm?issueID=68§ionID=4&articleID=1127
“Legalized extortion is what I call it,” says Thomas DiLorenzo, professor of economics at Loyola College in Maryland. Under the CRA......"
“The mechanism government decided to use was lower lending standards,” says Stan Liebowitz, professor of economics at the University of Texas at Dallas and adjunct scholar at the Cato Institute, a libertarian think tank. “Government tried to convince banks it was safe to lend with lower down payments and higher obligation ratios. They put pressure on Fannie Mae and Freddie Mac to make these loans. That whole ball got rolling because of it.”
For more on the HUD-sponsored ACORN SCAM:
http://theeprovocateur.blogspot.com/2009/01/inside-story-of-acorn.html
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Lars. We agree with you about HUD. Taxpayers need to be very specific that no tax dollars should go to ACORN or any of its affiliates and none to NACA or other groups of their elk. The federal government meddling where it shouldn't has caused these problems and now we the taxpayers are supposed to believe these socialist Democrats will fix what they created. America needs to be heard. They need to say loud and clear, Enough is Enough!
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Thanks so much this is a really useful guide and helps me a lot
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I admire what you have done here. It is good to see your clarity on this important subject can be easily observed. Tremendous post and will look forward to your future update.
Thanks
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The president's task is hardened by the financial crisis his politicians created. I pity him.
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