Posted on 06/10/2012 8:21:10 AM PDT by Kaslin
The man who once ran the Chicago housing programs for ACORN, the notoriously corrupt, scandalous community organization, is now the director of a new Illinois housing assistance program funded with $445 million by the White House. In the Obama Administration waste, fraud, abuse, and corruption aren't rooted out – they get repackaged and rewarded with a huge budget increase.
Remember the outrage over the exposure of ACORN travesties including voter fraud and offering advice on tax evasion that led to Congress overwhelmingly voting to defund the scandal plagued organization (345-71 in the House, 85-11 in the Senate)?
Less salacious, but far more economically disastrous was the "starring role" that ACORN played in precipitating the financial meltdown of 2008 initiated by the sub-prime mortgage market meltdown. According to acclaimed investigative journalist Matthew Vadum, ACORN's "wanton disregard for the economic wellbeing of America" through the very direct involvement for decades in federal housing policy and programs at Fannie Mae and Freddie Mac, perpetually weakening underwriting standards, and ignoring or even falsifying loan documentation put ACORN squarely at the center of the collapse of the sub-prime mortgage house of cards.
Huge numbers of loans that eventually became the problem trace to ACORN originations. Vadum discovered that ACORN housing brochures openly bragged about how they undermined mortgage loan underwriting standards.
Joe McGavin used to be the director of counseling for ACORN housing in Chicago and operations manager for an ACORN offshoot, Affordable Housing Centers of America (ACHOA). After the scandal-ridden collapse of ACORN, McGavin resurfaced in 2011 as the new director of the Illinois Hardest Hit Program. The Hardest Hit Fund (HHF) is one of many programs established by the Obama Administration to "assist homeowners who have experienced an income reduction due to unemployment or substantial underemployment" during the economic recession.
Judicial Watch, the non-partisan Washington based watchdog foundation, discovered that McGavin and IHHF will now be in charge of doling out $445 million thanks to a very generous grant by the Obama Administration. "It means the ACORN official (Joe McGavin) will go from operating a corrupt leftist community group that's banned by Congress from receiving federal funding to controlling over $445 million in U.S. taxpayer funds," says Judicial Watch in a newly released report. Being remarkably polite, JW opined that McGavin's "strong ties to ACORN make him a suspect candidate to handle such a huge amount of taxpayer dollars."
McGavin and other ACORN alumni and radical leftists know they have the godfather of all Community Organizers in the Oval Office, and Obama has long been in the middle of promoting the failed housing policies that led to the current crisis.
As Matthew Vadum explains, "Barack H. Obama, Esq., contributed to the increasingly hostile environment for banks when he represented the plaintiffs in the 1995 class action lawsuit Buycks-Roberson v. Citibank. The suit demanded that the bank grant mortgages to an equal percentage of minority and non-minority mortgage applicants." In a far too familiar pattern resulting from similar intimidation tactics, the bank eventually settled the case by agreeing to increase lending "to unqualified applicants."
If this scenario happened in almost any other Administration it would be scandalous, but it has become standard-operating-procedure in the Chicago-style politics of the Obama White House – the Administration that promised to "drain the swamp" of government corruption and be the most transparent in American history.
*sigh* It just keeps rollin’ down that hill, don’t it?
Glad that information is being assembled for people to see at least some of what this miscreant has done.
The hole is getting so deep, it will be a miracle getting out. By the time we get America back to a stable place, crud like these will be there to take it back again.
Corruption everywhere you look.
Thanks for the post.
Did the House not have to approve this funding? Who on our side voted for it?
What gives Obama the authority to unilaterally decide to do this?
The Constitution gives Congress the authority to spend money - not the president.
Article 1 Section 8, U.S. Constitution.
It MUST not be forgotten that Obama’s only brush with economics before becoming President was his working to train ACORN protestors, at the behest of corruptocrat Madeline Talbott in 1995 who broke into Chicago City Council Meetings (a la Madison last year) to disrupt and intimidate members.
The major push from Talbott, who hired Obama to train “protesters” was to force banks to loan to non-creditworthy lenders.
Oddly enough, one of the banks destroyed by their early success was the Superior Bank, owned by the billionaire family of Penny Pritzker, who became the 2008 Obama campaign treasurer
It’s just Walkin’ Around Money for the 2012 elections, is all.
if you complain about this, YOU MUST BE A RASSISS!, Right?
Corruption par for BO.expected.
Since when does the “White House” have $445 million to give away??????
The President can spend the money however he wishes.
Don’t you think they’ve already spent THAT?
Don’t you think they’ve already spent THAT? And, besides...there is no passed budget, is there?
The Gov't is still running despite the Senate refusing to pass a new budget for '12.
The continuing resolutions keep it funded on the old budget guidelines.
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