Wotka World Wide

Tuesday, September 30, 2008

Stanley Kurtz on Obama's associations as a community organizer with ACORN, and their role in the sub-prime mortgage crisis. Basically, they forced banks to make bad loans, got Freddie and Fannie to back it, and then encouraged it when other banks jumped on board. Obama, as a director for both the Annenberg Project and the Woods Foundation, saw to it that funds were directed towards ACORN and similar groups to continue their efforts. Maybe that explains why Obama ranks second to only Senator Dodd in donations from Fannie and Freddie, and that is in just two and a half years! This piece also illustrates nicely some of the tactics of community organizers, ie intimidation, coercion, bullying, and obstruction of legitimate businesses, to achieve their goal of securing loans for people with bad or no credit. Clinton's HUD people actually mandated that welfare and food stamps be used as income streams for making lending decisions! But it is Bush's fault, because he couldn't get any of his attempts at regulation of Fannie Mae and Freddie Mac through the Democrats in Congress. Note Obama's silence and lack of involvement on this issue as well. Why McCain isn't hitting him harder on this issue is beyond me.

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