Skip to comments.Bachmann: ACORN could regulate the financial sector
Posted on 12/09/2009 2:53:13 PM PST by American Dream 246
The embattled community group ACORN could help regulate the financial services industry under new financial regulatory reforms, said Rep. Michele Bachmann (R-Minn.) on Wednesday.
Bachmann, a consistent opponent of ACORN (Association of Community Organizations for Reform Now), said that an amendment given in the House Financial Services Committee could allow the group to sit on an advisory panel that monitors the regulations.
ACORN may have a seat at the table being on the oversight committee regulating the financial services industry of the United States, Bachmann said at a press conference. And that would be a cruel joke."
Bachmanns remarks come as House Financial Services Committee chairman Barney Franks (D-Mass.) regulatory reform bill is set to be brought to a floor vote this week.
The amendment offered by Rep. Maxine Waters (D-Calif.) created Consumer Financial Protection Oversight Board that would need to include five members from the fields of consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve under-served communities or representatives of communities that have been significantly impacted by higher-priced mortgage loans.
The panel does not have the power to create policy but can recommend policies to the director of the Consumer Financial Protection Agency.
Bachmann argued that this provision could allow ACORN to participate on the board. ACORN was temporarily stripped of its federal funding by Congress in September after two conservative activists posing as a pimp and prostitute filmed ACORN employees offering them financial advice.
The Minnesota congresswoman said she would offer an amendment negating the Waters language. She requested a provision be added to the omnibus appropriations bill that would extend the funding ban to Sept. 30, 2010.
Bachmann previously offered an amendment to the Financial Services Committee version that would bar ACORN-like groups from sitting on a separate advisory panel. Her amendment was approved by the panel. Waters' amendment was also included in the final bill.
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When will this Bizarro world end?
Ready when you are
The troops are gathering....we may just have one chance to “correct” this situation.
Democrats are the enemy of freedom. Pass it on.
Can anyone really believe we are witnessing this? I am simply astounded at what is happening. It is anything goes. Lock ‘n load!
The rumor is 2012....
It’s a revolution. They’re going to send the physicians into the fields and let the crop pickers run the hospitals. Not like it hasn’t happened before.
That will grease the emigration rails for Baby Boomers. Millions will leave and say, " Banana Republic!"
the destruction of America is nearing completion
Maybe never - dems won - and they’re going to do everything possible to consolidate those wins.
Knew something like this would happen. We were celebrating Aporns “demise” when the videos came out. That has been successfuly buried by the libs and the media. Aporn will become more powerful than it ever was.
2012 needs to be the year we take back everything with a good clear lead .
We need to overturn all of this crap and damage they have done thus far but also we need to go after groups like ACORN , SEIU with no dilly dallying.
SEIU has a large population of illegals, we need to stop the funding of ACORN once and for all but we also need to look at Soros and his groups and how they are funded.
Infact send him back to Russia where he can enjoy the jails there.
This is what Bush should have done.
Groups like the racist black panthers need to be prosecuted and then we go after this administration or at least many of those in it who are corrupt to the core.
“the destruction of America is nearing completion”
All that remains is for the hammer & sickle to be raised over the White House.
There is some really pissed off people, and I’m one of them..
This physician isn’t going into any fields. Maybe to a Lufthansa counter at O’hare for a one way ticket to Berlin.
They’re pushing very very hard and they’re going to regret it.