ACORN - We were warned-It's worse than you know!

Rep. Michele Bachmann is all over radio presenting information on the corruption of congress, banking and ACORN. And HELL NO, they're not going to let her on mainstream TV news!
She explained that the CRA required banks to lend to unsound applicants OR they could instead contribute to.....ACORN.

It's even worse than Bachmann presents it. I found this article from the year 2000...we were ASLEEP! This is just a few snips, long, worth the read.

And remember, Clinton started misusing the law passed by congress - the Community Reinvestment Act, but for 8 years after the republicans were in charge and did NOTHING to stop the socialist democrats from spreading their corruption! The same democrats in charge today.

I have long stated that our financial, subprime home loan crisis was government created. The big boys have given the bailouts to the very people who caused all this mess! No wonder Obama was a lawyer for ACORN...THEY had ALL the money!

CITY JOURNAL Winter 2000
The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities
http://www.city-journal.org/html/10_1_the_trillion_dollar.html

The Clinton administration has turned the Community Reinvestment Act, a once-obscure and lightly enforced banking regulation law, into one of the most powerful mandates shaping American cities—and, as Senate Banking Committee chairman Phil Gramm memorably put it, a vast extortion scheme against the nation’s banks. Under its provisions, U.S. banks have committed nearly $1 trillion for inner-city and low-income mortgages and real estate development projects, most of it funneled through a nationwide network of left-wing community groups

A radical group called ACORN Housing has a $760 million commitment from the Bank of New York; the Boston-based Neighborhood Assistance Corporation of America has a $3-billion agreement with the Bank of America; a coalition of groups headed by New Jersey Citizen Action has a five-year, $13-billion agreement with First Union Corporation. Similar deals operate in almost every major U.S. city.

This policy—”America’s best mortgage program for working people,” NACA calls it—is an experiment with extraordinarily high risks. There is no surer way to destabilize a neighborhood than for its new generation of home buyers to lack the means to pay their mortgages—which is likely to be the case for a significant percentage of those granted a no-down-payment mortgage based on their low-income classification rather than their good credit history.

Favorite places to visit!

Terry Anderson tells it like it is on immigration!
http://www.theterryandersonshow.com/

Great discussion at SmartGirlPolitics! http://smartgirlpolitics.ning.com/