Chicago,Il./ Militant Times - The seeds of the financial meltdown are now being traced to a militant community action group that adopted and backed Barack Obama as he climbed over the backs of American Taxpayers to become a Presidential Candidate.
The Association of Community Organization for Reform Now, ACORN, characterized as "a truly radical community organization" began its over the top aggressive political actions in Chicago with a program of intimidation, racial extortion, and outrageous confrontation.
Specializing in terrorizing bank presidents, elected officials, and others who opposed their radical anti-capitalism agenda, they disrupted hearings, boycotted individuals homes, orchestrated profane demonstrations in bank lobbies and in general extorted their way to securing their objectives.
What they ultimately achieved, starting at the local level, and aided by Democrats in positions of power, was to lower all credit standards for poor and minority constituents , culminating in Fannie Mae and Freddie Mac committing to fund 50% of their available mortgage money to these non-credit worthy applicants. These mortgages were then dumped on Wall Street where the American Taxpayer would wind up paying the price.
Their success was heralded by former President Bill Clinton, who crowed in 1995 that the action guaranteeing almost anyone a home " will not cost the American Taxpayer one red cent.!"
Meanwhile Obama ingratiated himself with the early militant leadership, seeing the way to leap frog his way to the top in Chicago and Illinois state politics. So impressed with his organizational skills, ACORN charged him with training new community organizers. As he rose in influence in state politics Obama insured that ACORN got more than their share of Taxpayer Money. Critics at the time of his tenure in State Government said he was known as " the Senator from ACORN".
Thanks to continued preferential funding from Democratic lawmakers, and institutions like Fannie Mae and Freddie Mac, ACORN is now the largest community action organization in the country and has turned its attention to fraudulent voting practices.
In recent years, to include this week in Las Vegas, criminal investigations have been launched to look into their voter registration procedures.
From January of this year until July, over 27,000 registrations have been found to be invalid. In Washington state investigators said ACORN was "responsible for the worst case of voter fraud ever"...of 1800 registrations, only 6 were found to be valid.
To paraphrase a child hood lesson, "From a little Acorn, a Giant, Enveloping Weed will Grow". America is now choking from the results of its loving cultivation of this insidious invasion of its cherished institutions and way of life.
It is ironic that in the mission to provide more homes for minorities Obama and the Democratic Party , by overlooking basic financial responsibility, have succeeded in orchestrating the largest financial disaster in modern times and caused more people to lose their homes than they provided.
Meanwhile House Speaker Nancy Pelosi and House Banking Chairman Barney Frank blame it all on the current administration,while adding more Rapid-Grow to the Weed that is choking us all. ACORN has awarded them their highest achievement award "The Green Thumb" for their actions in accelerating the Growth of Socialism in the US.
Ya Baby, BIG CHANGE AIN'T COMIN', IT BE HERE! (Brother, can You Spare a Dime?"