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Posted on 10/25/2009 7:04:35 PM PDT by Attention Surplus Disorder
WASHINGTON - During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to play a role in setting regulations for financial institutions.
The Waters amendment adds to the CFPA Oversight Board 5 representatives from the fields of "consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve underserved communities, or representatives of communities that have been significantly impacted by higher-priced mortgages" to join Federal banking regulators in advising the Director on the consistency of proposed regulations, and strategies and policies that the Director should undertake to enforce its rules.
By making representatives of ACORN and other consumer activist organizations eligible to serve on the Oversight Board, the amendment creates a potentially enormous government sanctioned conflict of interest. ACORN-type organizations will have an advisory role on regulating the very financial institutions from which they receive millions of dollars annually in direct corporate contributions and benefit from other financial partnerships and arrangements. These are the same organizations that pressured banks to make subprime mortgage loans and thus bear a major responsibility for the collapse of the housing market.
In light of recent evidence linking ACORN to possible criminal activity, Democrats took an unprecedented step today to give ACORN a potential role alongside bank regulators in overseeing financial institutions. This is contrary to recent actions taken by the Senate and House to block federal funds to ACORN.
A recent inquiry into bank funding of ACORN activities by three House Committees found that institutions that would be regulated by the CFPA have provided millions of dollars to the organization in the form of direct donations, lines of credit, cash, and other assets over the last 15 years.
The Waters amendment passed on a vote of 35-33. Click here to view the vote.
Words don’t fail me, but I can’t say them here.
I am just amazed at how brazen these damn democrats are. ACORN must have some goat pictures.
When will it be the time?
What?!!!!!!!
Fox. Henhouse. Washington, D(emocrat) C(corruption)
As I’ve said, one really has to feel badly for satire writers, reality continuously leaves them in the dust.
I’m still trying to wrap my brain around this. Is the idea that legislation should be co-written by those criminals who have committed roughly equivalent acts?!
We’ve got to turn this ship around, sail into the storm and vote these dirty dems who voted for this and any dirty rinos out of office.
This was posted before, but I’m glad you reposted it. People need to know about it.
My local US Rep, Kanjorski, voted for it. So much for his
“moderate Democrat” classification. Then again, he’s good buddies with Charlie Rangel.
Will America wait for 2010?
Time to March on Washington, storm the Capitol, sieze these monthers, hold a brief tributal and hang these people from rafters of Capitol Dome. Nothing else seems to get their attention or does any good. They are evil and corrupt tyrants and should be dealt with as such. Remember Nicolae Ceaucescu!
Let’s hope not. The conflict is stark between Marxine and her fellow Marxists and ordinary blacks whom, when you talk to them, aspire more than anything else to have their own successful business. It is the leftism of the Lamestream that prevents them from becoming sufficiently cognizant that as long as their brothers in the hood elect the likes of Marxine they decrease their odds of having their own successful business.
Are we all even contacting our Representatives?
Calling Glenn Beck.
Contact them all you want, they will NOT to anything for freedom.
FYI
Corrupt.
Brazen.
Shameless.
Corrupt.
America is sleepwalking through the sewer as happy as can be and has no desire for anyone to wake her.
FReep mail me if you want on/off the list.
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