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.
“Im stunned it took them this long - but better late than never.”
Look at it from their point of view...
The Political Power and intimidation behind ACORN is huge, completely based in corruption and self-enrichment, and it makes the Scams of the Jackson’s Rainbow-Push extortions look like child’s play...
It’s not the kind of thing you want to go up against, ESPECIALLY if it’s “just” other people’s money...
Really Acorn was most damaging to the US economy in four or 5 states: Michigan, Arizona, Florida and Nevada.You can pick up a 3 bdr home in Florida for 20 or 30 grand these days, if you can stand the neighborhood.
ACORN is not gone, just reborn into a more ugly and efficient organization.Its called Community Organizers International ( I call it Community Organizers International-The United States, or COI-TUS)THey will be streaming illegals into the USA from Mexico, The Gaza Strip, Pakistan and Kenya.Thats why they got the 8.6 billion coming to them.And they will have health insurance we all will be paying for.
Unforunately the Acorn battle is just beginning.
Good for BofA. It may take them a while to get the fecal stench off of themselves but with a few million hot showers using a wire brush, it should begin to subside.
This was the week I planned on taking every dime I have out of their bank. They just bought a few more weeks. Let’s se if they mean it. I’ll be watching.
If McLame had been elected none of this crap would be exposed.
Actually we need to support Hannah Giles and James O'Keefe in their ongoing legal battle with ACORN, for exposing them for what they are.
A corrupt organisation, operating under the mantra of a charatable outfit of do gooders for the out and downtrodden.
Those two young "kids" if you will, brought down ACORN, putting the OH! so level opinionated MSM to shame!
Young people like James and Hannah are a glimmer of HOPE for our nation!...we need to help them out, to keep that alive.
Perhaps it has finally become safe to resist ACORN. Well, even now the Congress is working on enhancements to the CRA. ACORN becomes COI and other AKAs and those other manifestaions will take over the government supported extortion that was perfected with ACORN.
This is great news. I bank at BoA, and have been wondering how I can switch banks and be sure that my new bank is not supporting ACORN.
However, we do need to keep our eyes on this effort and make sure we follow up. They may at any point un-suspend their involvement and resume funding.
You can support Breitbart, Giles and O’Keefe by going to BigGovernment.com and looking for the legal defense fund links.
The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities
“There is no more important player in the CRA-inspired mortgage industry than the Boston-based Neighborhood Assistance Corporation of America. Chief executive Bruce Marks has set out to become the Wal-Mart of home mortgages for lower-income households. Using churches and radio advertising to reach borrowers, he has made NACA a brand name nationwide, with offices in 21 states, and he plans to double that number within a year.
“With ‘delegated underwriting authority’ from the banks, NACA itselfnot the banksdetermines whether a mortgage applicant is qualified, and it closes sales right in its own offices. It expects to close 5,000 mortgages next year, earning a $2,000 origination fee on each. Its annual budget exceeds $10 million.”
NACA = ACORN Google Bruce Marks. He calls himself a “bank terrorist”. He's a real piece of work.
Citibank is the outfit sued by Obama in a discrimination case. They have been consistent contributors to ACORN ever since.
As Kipling said, once you start paying the Dane-geld, you never get rid of the Dane!
Actually it may be a real picture soon enough if justice is served...
Thanks Bank of America - thanks for dumping the nuts...
My business partner walks in today and says, "That's it--we're finally dumping B of A". I asked him what the outrage dujour was; they had lost his safe deposit signature card.
They really are a piss-poor company. Always nickel-and-diming you, rotten service. It's going to be cathartic to give them the finger when we go to our branch and shut 'er down.
Too late for BoA, as far as my business is concerned.
When they started granting accounts and credit cards to illegals, explicitly, I stopped using their cards, and took my dough out of that rat hole.
Too little...too late. Who cares about Bank of America anyway anymore? No flag? No bank of America. Just a plain old bank.
ACORN ping list? Hmmm, hmmmmm, hmmmm. Can you add me?
ACORN’s been operating under some 300 names for years.
The 280-300 figure appears to come from internet searches of Wade Rathke [the original founder of ACORN, a director of the Tides Foundation, chief organizer of SEIU local 100 and a member of SDS] & his New Orleans street address which reveals a multitude of orgs using the same offices and sharing the same people. Problem is, the some consider ACORN [a rather old organization] a separate entity from ACORN-INTL [a very young org]. The old ACORN became a part of the newer ACORN-INTL but ACORN, we are told, "left" ACORN-INTL when Wade Rathke was exposed over coverup of an embezzlement scheme.
This begs these questions: Some liberals claim Rathke was "fired" from ACORN after the embezzlement coverup was exposed. If so, how can he be fired if he was the founder? Did Rathke found the org as a proxy for others? He was a member of SDS- was ACORN created as a front for the old SDS? He was also an official at the Tides Foundation- was ACORN a front for that org? That org was founded by Drummond Pike, an official with Democracy Alliance, a Soros group that also funds ACORN [the part of it not funded by taxpayer's money]. Or was Rathke the master of ACORN at the start? If so, when did he lose so much control that he could be fired? If not, who was? Who is? Soros? A board of funders?
Is ACORN-INT, now COI, truly Rathke's org or is it under some other authority, some other group?
If the core of ACORN was the Rathke clan, then COI is for all practical purposes ACORN because it's under his command, like an admiral who just switched flagships retains the same authority. But if ACORN was some other group's front- Soros' and Lewis's front for example- and he was just a hired hand, then it is possible [though unlikely, IMHO] he has truly formed an independent group while ACORN, sans him, remains unchanged under his bosses. ACORN claims there is no connection between ACORN and Wade Rathke's COI since the split, if they truly split.
ACORN, according to its founder Rathke, is part of HCAN.[Kind of sounds like another nut, the pecan, lol. Question is, is this true, and if true, is COI part of HCAN?
... The HCAN Steering Committee is made up of the following organizations: ACORN, AFL-CIO, AFSCME, Americans United for Change, Campaign for Americas Future, Center for American Progress Action Fund, Campaign for Community Change, Childrens Defense Fund Action Council, Communications Workers of America, MoveOn.org, NAACP, National Council of La Raza, National Education Association, National Womens Law Center, SEIU, UFCW, USAction, and Working America. -------x_plus_one to Red in Blue PA | To 2Other related groups:
ACORN : affiliated with Voter March and No Blood For Oil. [riseup.net] ---------http://www.freerepublic.com/focus/f-news/1794584/posts?page=179#179
It's hard to follow all the groups and that is intentional- it makes it hard for prosecutors and researchers alike. It's easier to follow specific individuals and note the groups to which they belong or better yet, control financially. In fact it seems as though there are fewer individuals involved in the network than there are groups in the network.
It's complexity makes it obvious that this is a criminal network of moneylaunderers, no matter how you look at it.
Thanks for this great post and your research. I am bookmarking it for future reference. We will need as much info as we can get on these rubes.
LucyT Ping to new Acorn Organizational Issues.