Noblesse Oblige

Senator Obama has worked hand in glove with ACORN, the group under investigation for voter fraud in many states, for many years. You won’t find our press reporting these connections, so if you want the true facts on Barack Obama sometimes you have to read foreign papers, strange as it seems. Here you seen an article at Canada Free Press that outlines those recent legislative ties:

Not only did Senator Barack Obama’s presidential campaign pay more than U.S. $800,000 to a front of the Association of Community Organizations for Reform, Now, ACORN, currently under investigation in a dozen States for voter registration fraud and bribery schemes, for “get-out-the-vote-efforts”; Obama co-sponsored legislation called the “Helping Families Save their Homes in Bankruptcy Act of 2007”– that was supported by ACORN and protects them.

On the surface the goal was noble, but like his record with the Chicago Annenberg Challenge, Barack’s efforts on the housing front led to zero results, unless you want to look at the monumental meltdown of financial companies from choking on sub prime loans forced down their throats, which is a very bad result. If you go to the areas Obama organized in, if you look at housing in his state, you see people no better off or worse off. See Here.

Acorn has fought foreclosures but also supported legislation that enabled this credit market meltdown for almost two decades. They are particularly responsible for helping raise the caps on permissible loan to values, lowering of the standards at Fannie Mae and Freddy Mac (FNMA & GMAC,) as well as legislation that increased the percent of subprime loans they had to carry. So in a way Acorn helped open the subprime floodgates and helped create a whole new class of victims to feed into their political causes.

You won’t see the McCain campaign bring this up for a few reasons. Even though Acorn and Democrat legislators created the sub-prime valley of vultures that poor people were fed into, even though they profited with donations from the very predatory lenders that they trailblazed the market for, it’s a no go simply because the defense will be to show America a non stop calvacade of poor people getting foreclosed upon. Poor people who were sold a dream that was really a nightmare by pernicious legislators who would rather crush our economy than lose an election.

See previous articles here and here.

UPDATE: From their 2002 Brochure you can see Acorn lobbying for money for their “credit counseling groups”:

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  • Congress should increase funding for the HUD Housing Counseling program from $50 million to
    $75 million, with some of the increase earmarked for foreclosure prevention counseling.
  • Cities, Counties, States, and the Mortgage Industry should provide funding for community outreach to
    borrowers in danger of losing their homes and to housing counseling programs to help homeowners
    avoid foreclosure.
  • States and the Federal Government should set up and provide the start-up money for Rescue Funds (such as the state of Ohio is doing), but these funds should be fully financed by the Mortgage Industry.

What this amounts to is creating victim classes and then using them to shake-down the mortgage industry – it took 20 years, but recently Acorn got what they really wanted through their support of regulations in Congress that led to this very debacle, and they are profiting by it just as much as those fat cats at Countrywide.