ACORN Voter Fraud Accusations Mar Obama Campaign

Frank Salvato, Managing Editor

Obama, ACORN &
Their Starring Role in the Mortgage Crisis
October 10, 2008

Barack Obama, congressional Democrats and Progressive-Left operatives – with the help of the mainstream media – have done a great job of spinning culpability for the mortgage crisis onto the Bush Administration, congressional Republicans and, in particular, John McCain. This is a notable moment in the history of political spin because as the facts present, Democrats and Progressive-Leftists – not Republicans –are the ones directly responsible for the current financial crisis in which our country is embroiled. At the center of this culpability are Barack Obama and ACORN, the Association of Community Organizations for Reform Now.

In order to understand how Barack Obama and ACORN are directly to blame for the mortgage meltdown, we first have to understand what ACORN is and how Barack Obama was affiliated with them...and make no mistake; Barack Obama was most definitely affiliated with ACORN.

The Roots of ACORN
From a comprehensive and thoroughly researched piece by Stanley Kurtz in the National Review titled, Inside Obama’s ACORN, we come to understand that ACORN has its roots in the anti-capitalist tenets of the 1960s radical left group the National Welfare Rights Organization. This groups’ goal was to force a radical reconstruction of what they described as “America’s unjust capitalist economy” by forcing the elimination of eligibility restrictions for those trying to attain inclusion on the welfare roles, thus creating an overloaded system, a crisis, so as to affect that reconstruction.

Over the years, ACORN morphed its mission into one that champions a diverse set of objectives, all with an overriding goal seated in the tenets of anti-capitalism and the destruction of the US economy. The group targets privately owned companies in their pursuit of unreasonably crafted municipal living wage laws that have literally driven said companies from the areas where jobs are needed. They continue their campaign to eliminate welfare role eligibility restrictions as they crusade to roll back welfare reform. And, in an area directly related to our subject, they actively employ coercive tactics to manipulate financial institutions into abandoning best business practice by affording low-interest loans to unqualified borrowers.

It is important to understand this statement fully; “...they actively employ coercive tactics to manipulate financial institutions into abandoning best business practice by affording low-interest loans to unqualified borrowers.”

In 1977, the Community Reinvestment Act was signed into law by President Jimmy Carter. This law requires financial institutions to offer credit, including home ownership opportunities, to under-served populations. Translated, the Community Reinvestment Act forced financial institutions to offer credit – mortgages – to unqualified borrowers. To add teeth to this law, provisions were included to punish financial institutions that did not embrace the horrific business practice of lending money to those unable to pay it back.

Because of the Community Reinvestment Act, any financial institution that wants to expand or merge – any financial institution that has earned the right to grow because of its utilization of good business practices – has to prove it has complied with the Community Reinvestment Act otherwise the growth move can be blocked through regulation set-up to enforce the law. ACORN, under the guise of affecting “affordable housing for the poor” routinely employs intimidation tactics (both physical and verbal), public charges of racism and threatens to use the Community Reinvestment Act to block business expansion. These actions have enabled ACORN to extract hundreds of millions of dollars in loans and “organizational contributions”(read: bribes) from America’s financial institutions.

GatorBUILT wrote:

<quoted text>
They pay 60% because they make MORE, but theor tax burden is 27% vs 40%, if you want fairlet's make it a FAIR TAX BURDEN, get it?...as a percentage of INCOME they pay less...end of story...your silly trickle down economics caused the recession of the 80's, or don't you remember..

The leftists do not understand the concept of fairness. As it stands today, America's income tax, and capital gains tax, and death taxes are not based on fairness. These taxes are rooted in leftist greed. A fair tax would be everyone paying X%. No loopholes, no deductions, we all just pay the same percentage. The rich would still pay more, as they make more, but the percentage would be the same. That is a fair tax.

Indisputably, the actions of ACORN, in their intimidation of financial institutions that make up the mortgage banking industry, serve as the chief catalyst for the mortgage crisis and the financial meltdown we are experiencing today. By coercing the mortgage banking industry into lending to those who were unqualified to borrow, ACORN instigated the collapse of the housing market and, as a result, is directly responsible for qualified borrowers – you and I – being unable to secure legitimate lines of credit today.

mackenize wrote:

<quoted text>There is in question if Obama was born in the U.S. His father's mother said she and two half siblings were present at his birth, in Kenya.
Also there is in question when he was young boy living in Indonesia. You could only attend school there if you were a citizen. He attended school there.
But don't worry, even if it's true, it will not matter. Obama will be elected,"come hell or high water".
Because if he is not, there will be one heck of a civil unrest from the blacks.

i can see it now just like the la riots. they will burn down their own town. assults on white people will escallate and then marshal law will be implemented......sounds just like the plan in place.

But how does this relate to Barack Obama?

Barack Obama’s Connection to ACORN
When a young Barack Obama was first starting in his career as a “community organizer,” he caught the eye of Madeleine Talbot, the Chicago chapter head of ACORN. Talbot was so impressed with Obama’s organizational skills in his effort to attain asbestos abatement at a low-income housing project that she invited Obama to help train her own staff in the art of community organizing.

In an article by Toni Foulkes, a Chicago ACORN leader and a member of ACORN’s National Association Board, published in Social Policy titled, Case Study: Chicago — The Barack Obama Campaign, Barack Obama is cited as being a key figure in ACORN’s yearly leadership-training seminars. Foulkes also exposes the fact that the much-touted Project Vote campaign which Obama takes credit for organizing was, in fact, in direct partnership with ACORN.

Barack Obama was retained to represent ACORN in a legal action regarding an Illinois law addressing what has come to be known as “motor-voter” voter registration. He was intentionally and specifically sought because of his days working with Madeleine Talbot.

After Obama officially left ACORN and began to craft his political career he tapped into his time at ACORN to field his volunteer staff. Having trained many of the ACORN leaders in Chicago there was a well-spring of enthusiasm for his candidacies throughout the organization, candidacies that include his 1996 congressional campaign, his 2000 State Senate campaign, his 2004 US Senate campaign and today’s 2008 presidential campaign. It should be noted here that Obama sought and received endorsements from ACORN’s political arm for his political contests.

A minimal effort into researching then Illinois State Senator Barack Obama’s pet projects reveals that on several occasions he introduced legislation complimentary to ACORN’s goals including legislation addressing the municipal living wage and the financial sector. And when Obama sat on the boards of the Woods Foundation and the Joyce Foundation he was afforded the wherewithal to direct grants to ACORN, which he did.

Putting Two-and-Two Together
There are many, including HotAir.com ’s Ed Morrissey, who will rightly point out that,

“It’s important not to get too carried away with the ACORN connection in the collapse. The real trigger came when Fannie Mae and Freddie Mac began buying up all of these loans and converting them into securities.”

But a gun doesn’t shoot without bullets and ACORN’s manipulation of the mortgage banking community in securing low-interest loans for unqualified borrowers manufactured the “bullets” that were shot by the gun owned by Fannie Mae and Freddie Mac.

Every crisis begins with a single act but most often that act remains hidden in the shadows of the crisis. It took years to uncover the mechanics of the September 11th, 2001 attacks yet we understood all those years of planning and training in a single moment. Hitler’s rise to power didn’t begin with his ascension to chancellor, it began in a Munich beer hall years before. And the movement that is incrementally facilitating the encroachment of socialist democratic ideology in the United States didn’t start in the 1960s, it started circa World War I.

In the case of the mortgage crisis and the subsequent financial meltdown that has caused hundred-point slides in the stock market in recent days, it started with training people – community activists and their coordinators – how to coerce financial organizations into employing bad business practices by providing loans to people who could never, ever pay them back.

Barack Obama trained Madeleine Talbot’s budding ACORN staff how to organize people to action. He returned yearly to provide leadership-training seminars. And after ACORN employed the practice of coercing financial institution into providing low-interest loans to unqualified recipients Obama served as their legal counsel.

Fannie Mae and Freddie Mac may have acted as the mechanism for the initiation of today’s financial crisis, but ACORN and Barack Obama exist as the genesis, the single act that morphed into financial catastrophe for our country and, very likely, the world. To deny this elementary fact is to employ the math that got us into this mess.

And Barack Obama wants us to trust him with leading our country?

marcuss wrote:

<quoted text>
im for taxing everything we buy. domestic made 15% tax, imported 25% tax. no tax exempt status for anyone. the only exception will be a vehicle or a house.
a 10% flat tax on paychecks and businesses with no refund.
if that wont fix the countrys problem NOTHING WILL.
that is fair.

Only a wealthy person or an idiot would support such a regressive tax scheme which would result in people paying a higher percentage of tax the poorer they are because they have to spend every dime they make while the richer you are, the more you save and would pay only the 10% tax.

The only tax system that works to keep the working classes (95% of the population) consuming, which is what fuels the entire economy, is a steeply progressive tax which encourages paying people enough to consume and pay their credit bills and mortgages. When 95% of the people have little money to spend, the share holders of the corporations don't make any money, banks foreclose on houses, people lose their jobs, credit card bills don't get paid, banks lose money and the snowball goes on. It isn't rocket science.

Ben wrote:

UNIONS once again marxists trying to mess up the US Economy.

i have tried numerous times to get into the union.

passed the test went on 3 interviews. i figured i was in. but if i was a minority i would have been a shoe in. out of 500 tested. 10 were hired 5 african american males, 2 women, 1 white 1 african american and 2 white guys.

GatorBUILT wrote:

<quoted text>
There's already a 7.65% tax on all paychecks

As expected, a leftist with incomplete and faulty facts.
Counting your medicare, social security, and income taxes, most taxpayers are already paying over 25% in taxes here alone. This is not counting state sales taxes, and other taxes, which brings the tax burden to close to 50%.
And lets not forget that Social Security taxation is taxation without representation for the next generation, that we will more than likely have to force them to pay even more into SS.

This sums it up wrote:

<quoted text>
No, Senator Obama isn't black. By genetics, I believe he's 1/2 black, 3/8 Saudi Arabian and 1/8 black. Is this not correct? I don't understand how he became 'black' when his blood quantum is 7/8 something else.
I disagree with two sets of rules, even if Senator Obama was black. Also, I was under the impression that Mr. Palin was Alaskan Native. Is that incorrect, as well?

Palin mother is just one quarter Eskimo,his father was from Seattle. And as for Obama. Here is his myspace page.

Status: Married
Here for: Networking
Orientation: Straight
Hometown: Honolulu, Hawaii
Body type: 6' 1" / Slim / Slender
Ethnicity: Black / African descent
Religion: Christian - other
Zodiac Sign: Leo
Children: Proud parent
Education: Grad / professional school
Occupation: United States Senator

Does Obama have any friends or associates and is he affiliated with any groups that aren't racist, anti-American, criminal or terrrorist? This guy is a magnet for illegal activity.

Shouldn't you have sources to confirm what you say? One source does not cut it. It seems many of you posters in here just post the same stuff that have no bearing on the actual evidence. Obama did contribute money. See CNN news (liberal) and see Fox News (conservative) they will both say that Obama did give them money. Using source that is 5th in line for information is not reliable go to the sources that most likely have first hand information. As for government sometimes i wonder if Obama will win because of white guilt? There is something behind all this, we just cannot see it...

marcuss wrote:

<quoted text>
i can see it now just like the la riots. they will burn down their own town. assults on white people will escallate and then marshal law will be implemented......sounds just like the plan in place.

Well at least they could get their Xmas shopping done.

Guess what gatortrash, I`m in the housing business. Thats how I made a ton and own a big ass house. I have inside info. The housing bubble started with Clinton. His former advisors can deny it all they want. People with a brain know better...

GatorBUILT wrote:

<quoted text>
Yup...but you didn't make any decision that someone else could make...you FAILED to defend it other than some emotional argument to keep your money.

Actually it is those on the left who use emotional arguments instead of factual arguments. Facts get in the way of those on the left, they are an ideology of emotions over facts.

mackenize wrote:

<quoted text>It is in our constitution that to be President you have to be a natural born citizen.
But what the heck, let not follow the constitution. Let's change the rules how it suits us.

McCain Was born in the Panama Canal Zone in 1936.

Ben wrote:

"For the same reason that childless couples, parents with grown children or the elderly pay property taxes to educate your children...when everyone is treated fairly, our country grows stronger...why shoulod I GIVE to charity? Not EVERYTHING is based on the self-centered nature of greed, somethings are just good humanitarian qualities that we can brag about and be PROUD of...why pay for your children to go to college..they're old enough to get a job, right? "
umm becasue the self centered nature of greed is what the world is based on, its human nature and without it human species probobly wouldnt be alive, it is what drives people to be succesful. We are all animals fighting for the biggest piece of meat for our family. If you give to charity or not is your choice but should you be forced to give to charity? Hell no, you shouldnt be forced to do anything with the money you earn give it away or keep it its your choice thats that american way.

To say you and I are different people would be an understatement...also, it most definitely takes COOPERATON amongst social groups to survive, reproduce and that is WHY we prosper...more gets done as a group than as individuals: feeding, protection, comfort, etc, etc...again, your defense of taxation fails on emotional grounds, which leads me to believe you CANNOT defend it on bona fide facts or figures...that speaks volumes.

GatorBUILT wrote:

<quoted text>
Gee, Scooter, I'd figure you'd have learned by now not to talk about what you DON'T know...
from Wiki:
Some commentators have charged that the CRA contributed in part to the 2008 financial crisis, as it encouraged banks to maket," relying partly on evidence that the housing bust has been a largely exurban event.[59] Ellen Seidman, former director of the US Office of Thrift Supervision during the Clinton administration, who works at the New America Foundation,[60] has stated that the CRA did not have an effect on the United States housing bubble.[61][62]
Some commentators note that CRA regulated loans tend to be safe and profitable, and that subprime excesses came mainly from institutions not regulated by the CRA. In the February 2008 House hearing, law professor Michael S. Barr, a Treasury Department official under President Clinton,[63][32] stated that a Federal Reserve survey showed that affected institutions considered CRA loans profitable and not overly risky. He noted that approximately 50% of the subprime loans were made by independent mortgage companies that were not regulated by the CRA. Another 25% to 30% came from only partially CRA regulated bank subsidiaries and affiliates. He stated that institutions fully regulated by CRA made "perhaps" one in four sub-prime loans. Referring to CRA and abuses in the subprime market, Michael Barr stated that in his judgment "the worst and most widespread abuses occurred in the institutions with the least federal oversight".[64] According to Janet L. Yellen, President of the Federal Reserve Bank of San Francisco, independent mortgage companies made "high-priced loans" at more than twice the rate of the banks and thrifts; most CRA loans were responsibly made, and were not the higher-priced loans that have contributed to the current crisis.[65] A 2008 study by Traiger & Hinckley LLP, a law firm that counsels financial institutions on CRA compliance, found that CRA regulated institutions were less likely to make subprime loans, and when they did the interest rates were lower. CRA banks were also half as likely to resell the loans.[66]

Gee gatotrash, did you NOT know wiki can be changed by anyone, anytime?
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