File this under “some folks never learn”. ACORN (aka Community Organizations International) is going after lenders to force them to take advantage of Obama’s Making Home Affordable foreclosure-avoidance program. This is the same tactic Obama and ACORN used back in the day, to get lenders to relax their lending rules for the sake of "affordable housing" and thus planting the seeds of the subprime lending fiasco.
Via American Spectator
ACORN, which played a starring role in creating the subprime mortgage crisis, plans to add insult to injury by harassing lenders across the nation with protests tomorrow in an effort to coerce them into supporting President Obama's Making Home Affordable foreclosure-avoidance program.
Austin King, director of ACORN Financial Justice, sent out a press release today advising of the demonstrations that are planned as part of its "Homewrecker 4" campaign. The four financial companies targeted are Goldman Sachs, HomEq Servicing, American Home Mortgage, and OneWest. Read the whole document
here.ACORN plans to hit Dallas, Pittsburgh, Philadelphia, St. Louis, New York City, Wilmington (Del.), Columbus (Ohio), Houston, Little Rock, Boston, Los Angeles, Miami, San Francisco, and Seattle.
Why is it that so many liberals refuse to abandon bad policy, no matter how wrong it has been proven, they refuse to give up on it. There are countless examples of socialism and communism failing miserably but liberals still strive for both like they are trying to reach Nirvana.
Also what is up with some of ACORN’s nomenclature? “Director of Financial Justice” and “Homewrecker 4”? Geez!
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5 comments:
You might enjoy this Fox video showing ACORN's Austin King being challenged...
http://www.foxnews.com/video/index.html?playerId=011008&streamingFormat=FLASH&referralObject=6427960&referralPlaylistId=dfd2bac5179f24504506103ae9a4da98b0a23044
ACORN'S (now COI) role in the mortgage meltdown was huge....second only to government's.
Government had long undermined traditional lending criteria. GW Bush pushed for and signed onto the 0% DOWN FHA mortgage and watched as Congress (in a bi-partisan effort) directed Fannie Mae and Freddie Mac to increase their share of the mortgage market...FROM 24% in 2000 (economists claimed that was too high back then), TO just under 51% by 2008 and almost all of that HUGE surge in subprime loans. Fannie's & Freddie's buying those morgages is what allowed the banks and broker to, in effect, gamble with the people's (taxpayer) monies!
ACORN's role was to put a face of "community support" for the kind of credit socialism that went on from around 2000 to 2008.
And the same bad actors are still in power today! In fact, government is relying on some of those who created the mess (hello Tim Geithner) to fix it...dumb move.
Anonymous:
If this is the link to Audtin King being interviewed by Fox Business News a little while back, I have seen it. They question Austin as to why he doesn't fight for Renter's rights.
JMK:
Even Barney Frank is repeating the same big mistake by pushing banks to make more condo mtgs. If it were happening anywhere else, it would be a farce of cosmic proportions.
Thanks for bringing much needed attention to the scandals of ACORN. Cnservatives need to come out fighting on this.
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