Obama, Acorn And Their Starring Role In The Mortgage Crisis
By Frank Salvato
October 10, 2008
Page 3 of 3
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. (web site)
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." (web site)
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?
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Frank Salvato is the Executive Director and Director of Terrorism Research for BasicsProject.org. He can be contacted at newmediajournal@comcast.net.
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Note -- The opinions expressed in this column are those of the author and do not necessarily reflect the opinions, views, and/or philosophy of GOPUSA. >> Back -- Page 1 2 3
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