Posted on 06/30/2009 6:57:30 AM PDT by Shellybenoit
Before “subprime” became a crisis, ACORN was active in the mortgage market, fighting in support of the policies that helped lay the groundwork for the banking collapse of 2008. ACORN lobbied legislators and banks to ensure that any person, regardless of credit history, income, or assets, would qualify for a mortgage. They mastered the art of pressuring banks – often through radical and controversial methods – to provide subprime loans to all comers. President Obama acted as a lawyer for ACORN in a lawsuit against Citibank forcing it to provide subprime loans. It was many of these “toxic” loans that defaulted and sparked the subprime mortgage crisis.
Today ACORN will be taking to the streets, harassing mortgage lenders in 14 states for daring to foreclose on the bad loans that ACORN helped force them into making
Will Demand Participation in Obama’s Foreclosure Prevention Program from Goldman Sachs’ Litton, Barclay’s HomEq, American Home Mortgage, and OneWest (Washington, DC) – ACORN members, allies, and struggling homeowners, outraged at the ongoing foreclosure crisis that is tearing apart neighborhoods and the economy, will directly confront the mortgage companies at the heart of the ongoing national nightmare. In March, President Obama announced “Making Home Affordable”, a $75 billion effort to prevent 4 million foreclosures. The program is voluntary, but over 80% of the mortgage industry has signed for what is definitively the new minimum standard in the industry. Yet a handful of mortgage companies, including four of the most important who service more than 2 million families’ mortgages – the “Home Wrecker 4”– have refused to sign up for the plan.
The best part of it all is YOU may be paying for it:
(Excerpt) Read more at yidwithlid.blogspot.com ...
Maybe ACORN is a criminal organization...
You pay them to destructive things to do your country. They traipse around doing nothing while you work to give them more money.
Banks could have easily lobbied for and received protections from organizations like ACORN if they really wanted to, but they chose not to do this. Of course, now we are left holding the bag because the same banks that wanted to ride the tide of increasing home values were able to get us to cover their losses when things crashed.
So basically, while ACORN is a criminal entity and should be prosecuted as such, the banks clearly are not saints either.
Of course ACORN is a problem. However, “Busting Heads” seems hyperbolic.
The Brownshirts should receive Gambino justice.
Two in the back of the head.
Wonder what they would do if they start finding those brownshirts with THEIR heads busted.....???? Just wonderin.
When ever you see these people, ask them if they are Acorn, then tell them what you know about their corruption..........in the end do not be afraid to shout them down, its their tactic, give it back to them in spades!
LOL ... I bet that would do it.
Anerican Spectator keeping the heat on.
Shining the light of truth per se.
Well since we’ve discovered that voter intimidation is not illegal, I guess ACORN can legally beat up bankers, huh? Or do they have to be WHITE bankers?
Good one!
And these clowns are going to do the census!
Ever worked in mortgage banking? I didn’t think so.
Maybe I should. I could bring in this refreshing idea that maybe lending to people who have no business borrowing is bad.
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