Skip to comments.Bank Pulls Back From Acorn Work
Posted on 09/27/2009 7:21:55 PM PDT by GOP_Lady
Already facing the loss of federal government funding, the community-organizing group Acorn also has run afoul of one of its big corporate partners, Bank of America Corp.
In response to questions from The Wall Street Journal, a spokesman for the banking company said it has "suspended current commitments" to Acorn Housing, an affiliated group, and "will not enter into any further agreements with Acorn or any of its affiliates," pending assessments by the bank of the organization's operations.
Acorn, officially the Association of Community Organizations for Reform Now, has been under fire since the recent release of secretly recorded videos that showed Acorn employees offering advice on evading taxes, setting up brothels and smuggling illegal immigrants.
(Excerpt) Read more at online.wsj.com ...
Looks like Bertha Butt will be suing BoA next.
FReep mail me if you want on/off the list.
BofA caves to all the poverty pimps, like Jesse Jackson and ACORN. They don’t deserve the business of respectable people.
With the momentum, perhaps we can encourage someone in Congress to sponsor a bill to Audit ACORN.
Their management seems to be completely tone-deaf (there was a story earlier about one of the managers yanking American flags that a bank employee had placed in front of the bank out of respect for a soldier's funeral cortege -- because they might 'offend' a customer). And I've banked with one of the banks they absorbed since I was 12. . . the Fulton National Bank of Atlanta a/k/a 'the friendly Fulton'. BoA, not so much so.
Awwwwwwww, poor widdle ACORN.
Read the fine print. Big back door to get right back into it. Everything I've read indicates that none of the financial stuff happening to ACORN is guaranteed permanent, much not guaranteed at all. Contingencies all over the place. Lots of them are simply waiting for the publicity to fade and then restart business as usual.
Without a deluge of indictments, followed by convictions against ACORN, this is all BS. Like removing 10% of a cancerous tumor and expecting the rest to die off on its own. And the odds, at the federal level, of any serious legal action against ACORN? Buy a lotto ticket, better chances.
Thank you Glenn Beck and friends.
I’m stunned it took them this long - but better late than never. If there are any other banks still dealing with ACORN we need to have their names on a list...
....glad BofA is finally coming out from under the ether
There are others...and you will be surprised at how many.
Seems to me this could be the way out of the, let’s call it “extortion cycle” the major banks have had to succumb since the latter part of the Clinton misAdministration.
The current misAdministration most certainly will want to force them to keep their “commitment” to ACORN housing, but the investigation of ACORN’s various inappropriate activities could say “domino” into a pretty ugly picture for Democrats by election cycle 2010.
Hopefully B of A will have the gnads to expose the pressure put upon them by the Obama WH to keep that commitment to the ACORN/CRA Housing extortion.
Expose them wherever possible and they will ultimately be defeated. I hope that’s what B of A is planning on doing, but NOT holding my breath.
Not the least of the reasons to throw those BOA credit offers into the trash!
Good. BofA and other banks were forced to deal by acorn by the usual race-baiting methods, and by lawsuits claiming that they were discriminating against blacks.
So it was basically a political decision to deal with ACORN—not something they really wanted to do. It meant that they had to give out a lot of bad loans.
So, now the political wind is blowing the other way, and I’m sure they are positively delighted to be able to kick ACORN to the curb.
The question is will associated groups such as SEIU, Apollo and Tides be as closely scrutinized as ACORN.
This is all a ruse.
A new ACORN by another name has been organized and in a week or two will have taken over from ACORNS now defunct offices. Its called "Community Organizers International" ( I call it Community Organizers Iternational - The United States or COI-TUS)
This whole so called "destruction" of Acorn is simply a reorganization and they will have their hands out for 8.6 billion dollars under the new name, as a " A BIGGER AND BETTER ACORN."
Then the IRS, The Census Bureau, and Citcorp will all come back to these socialist POS, and keep on their dirty work.We will have to fight them in the streets, around polling stations.It unfortunately is not over by a long shot.
I wonder if there is a way that the banks who were pressured to loan money because of the weight of ACORN on their tails could collectively produce data showing how well those ACORN induced mortgages securities performed versus the typical joe six pack with a 700+ credit score with stated/limited/or streamlined documentation performed.
Things that make you go HUMMMMMMMMMM !
Obama is a LYING CROOK
As various charges and complaints have materialized over the years, it seems that ACORN uses the communities in which they are located as staging grounds for national power grabs. With multiple states and entities receiving federal funds, ACORN plays to win. Aiding ACORN are groups like DEMOs, the Democracy Alliance, Soros Open Society Institute, and the Service Employees International Union (SEIU). The Washington Examiner has covered ACORNs: Muscle for the Money program:
ACORNs so-called muscle for money strategy extorts donations from targeted government and corporate officials by offering them Mafia-like protection from protests by the groups own paid thugs, many of them convicted felons. ACORN has also blocked bank mergers until the targeted financial institutions agreed to change their lending policies to ACORNs satisfaction.
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