Category Archives: Fannie Mae

Rush Limbaugh February 9, 2012, Mortgage lenders scapegoats for bad loans, Obama ACORN et al pushed low income loans

Rush Limbaugh February 9, 2012, Mortgage lenders scapegoats for bad loans, Obama ACORN et al pushed low income loans

“However, in light of the politically oriented thrust of ACORN’s activities, it is fair to ask whether the CHD subsidies to ACORN are advisable and commensurate with the purposes of CHD.”

“This commentary does not oppose CHD funding of genuine, grassroots community organizations, run and supported by individual members of a parish or diocese. There is potential value and virtue in the collective voice. However, when the CHD funds Alinsky-style, church-based community organizations as in the best interest of the poor and supports organizations which advance other agendas, it divests the poor of their right to an authentic voice. This process tends to treat the poor as exploited units of human capital, rather than as human beings created in the dignity of God’s image.”

“To accomplish its goals, as outlined in the People’s Platform, ACORN has developed a political alliance with the Democratic Socialists of America (DSA). Together with others, ACORN and the DSA have formed a political party, the New Party.”…Report to the  Catholic Bishops of the US, 1999

“Illinois: Three NP-members won Democratic primaries last Spring and face off against Republican opponents on election day: Danny Davis (U.S. House), Barack Obama (State Senate) and Patricia Martin (Cook County Judiciary).”…New Party website October 1996

“During its 15 years in New York City, ACORN has helped squatters claim derelict city-owned property, forced bankers to invest in low-income communities, and organized a war against the city’s workfare program.

It’s also developed a reputation for no-holds-barred tactics—getting results through adversarial campaigns against bankers, politicians and bureaucrats using confrontation and concession rather than consensus.”…ACORN document, February 1999

I don’t get to listen to Rush Limbaugh that much due to the fact, as my mom always told me, that the British Royal Family does not acknowledge my claim to the throne. In the midst of working today I was able to catch part of Rush’s show.

“BEGIN TRANSCRIPT

RUSH: On the foreclosure front, big news here. Eric Holder and attorneys general from 42 states have shaken down the country’s mortgage lenders for $25 billion. Folks, this whole notion of these predatory lenders and people being tricked into taking out a mortgage, have you ever heard of that happening? People wandering innocently by a bank on the street and some guy inside the bank with a hook grabs ’em in, “Okay, pal, you’re taking out a mortgage.” That’s what the regime wants us to believe happened with this.

So as part of a campaign effort here, reelection effort, $25 billion from the country’s mortgage lenders to give to customers who were hit upon and forced, under duress, to take out a mortgage… (interruption) What was that? Can you get a piece? Perhaps. I think everybody’s share comes out to as much as $20,000. You might get paid off as much as $20,000 here if I’m reading it right. Now, what this is, folks, is social justice at work, because after all, the banks were forced by the government at the point of a gun to loan to people they knew couldn’t afford the mortgages. That’s what really happened. That’s the root of the subprime mortgage crisis. It was the government forcing the banks to lend money to people that never had a chance, would never be able to repay the loans. Social justice, affordable housing, the so-called good intentions and don’t judge us on the failure of our results.

So now the banks have the pay the price for making those bad loans. This is all part of continuing the ruse that the banks were the originators of this scandal and the originators of the problem. And so now there’s a $25 billion shakedown. I’m gonna tell you, Snerdley, you can apply for it, but I’m gonna tell you all of you mortgage people, you are not gonna see a dime. This is nothing but a slush fund. What Obama has done is gone to the bank, ’cause they’re having trouble fundraising. They’re nowhere near their billion dollars they’ve been bragging about. You ought to see what they’re gonna do at their convention. They’re gonna charge, what is it, a million dollars for a skybox. A million-dollar donation or something like that, to witness Obama’s acceptance speech. I think there’s a million-dollar charge or donation for something.”
“Now, this is Obama servicing his constituents. He is fulfilling that campaign promise he made to pay their mortgages. You may think, “Come on, Rush, he didn’t promise that.” We ought to dig out sound bites from one of his early town halls in 2009, the famous one that was in I think Tampa where a woman, who it turned out had a couple of houses or whatever, stood up and wanted a new kitchen. She thought that’s what the election of Obama meant. That’s what she thought it meant. I’m sure a lot of people that voted for Obama thought that’s what their lives held in store for them. Obama was gonna give them a house. Obama was gonna make sure that all the transgressions and all the discrimination and all the evil that had been perpetrated against these people in all of these years since the country was founded is gonna be fixed here.

Obama’s gonna make sure they get what they’ve been denied. That’s what they thought. They even showed up at town halls and asked him. As I said previously mere moments ago and I think quite accurately, I will be shocked if any of these people ever see any of that $25 billion. It’s just gonna get laundered back to the Democrat National Committee, which most union salaries end up being laundered back, at least a percentage of them, to the Democrat National Committee. That’s where all of this kind of money, most of it, ends up ultimately. But we’re told that one million underwater homeowners could be eligible for as much as $20,000.”

“Some evil bankers came along and tricked them into taking out a mortgage. That’s the basic claim, that these evil bankers (who are all big supporters of Obama and the Democrat Party: JPMorgan Chase, General Motors Acceptance Corporation, Bank of America) tricked poor people into applying for mortgages. They tricked people into lying about their incomes and assets, and they used robosigning. Have you ever heard of robosigning? (interruption) You have? (interruption) You know what robosigning is? I didn’t know what it was. I had to dig deep and find out. You know where the term comes from? What it really means? Robosigning is a term that was coined by a foreclosure lawyer in Florida way back in October 2011. It was made up out of whole cloth.”

“OBAMA: Lenders who sold loans to people, uh, who couldn’t afford them — by buyers who knew they couldn’t afford them, by speculators who were looking to make a quick buck; by banks that took risky mortgages, packaged them up, uh, and traded them off for large profits. It was wrong, and it cost more than four million families their homes to foreclosure.

RUSH: That’s right. They were tricked! These poor schlubs, they were tricked into this, but now Obama’s getting even with the tricksters. Obama is getting even with these evil bankers, the lenders who sold loans to people that couldn’t afford them. I can’t tell you how big a lie all of this is. All of this is a lie. Well, some of this stuff happened, but the reason for it is a total, total lie. The banks did take risky mortgages and package ’em up and traded ’em off, sold ’em to other unsuspecting dupes until they weren’t any unsuspecting dupes left. And then it was, “Bye-bye, Lehman Brothers,” and, “Hello, bailouts,” and that’s exactly what happened.

The banks were told to lend money, people couldn’t afford ’em, they did. Under federal duress. There was no income stream on these mortgages because people couldn’t pay them back, they never qualified, they never were gonna be able to pay them back. So worthless mortgages with no income stream were packaged up sold. Mortgage-backed securities. Yes, a brand-new financial product and they were sold to unsuspecting people. “Look at the income stream from all of these mortgages,” and their eyes got big and they saw a monthly income stream out the wazoo! Until they found out nobody’s making payments on their mortgages. They couldn’t afford them. They had no money. So the second dupees found a new way to package the mortgages for a third set of dupees.

And they kept going and kept going until they weren’t any people left to dupe. And then it was time to bail everybody out for this. The people who did the right thing are the people who are gonna pay for the people who do the wrong thing. The people that did the right thing — got a mortgage, make the payments — you are the ones paying for the people that did the wrong thing. The banks bundled these mortgages to try to protect themselves. They were forced to make these transactions! They knew they are shaky. They were trying to share the risk. I don’t know, did Clinton and Obama just expect the banks to go under? Did they except them just to absorb all of this as the definition of “affordable housing” and “social justice”? Here’s the second Obama sound bite as he takes his victory lap here.”

http://www.rushlimbaugh.com/daily/2012/02/09/regime_shakes_down_banks_for_25_billion

Obama, Rezko, Penny Pritzker, Franklin Raines , Fannie Mae, Freddie Mac, et al.

Citizen Wells October 21, 2011.

https://citizenwells.wordpress.com/2011/10/21/obama-bank-failure-policies-acorn-penny-pritzker-cellini-trial-witness-rosenberg-dredges-up-old-memories-capri-capital-where-is-house-judiciary-committee/

Obama, et al,played a large role in creating the sub prime mortgage problem and in typical Obama fashion, he blames others.

Obama lied about his connections to Acorn:

  • Obama helped Acorn in organizing of “Project VOTE” in 1992.
  • Obama was a community organizer.
  • Obama represented Acorn as attorney, ACORN vs. Edgar.
  • Obama was involved in Acorn leadership training sessions.
  • Obama, Annenberg Challenge, William Ayers, Acorn.
  • Acorn, New party endorsement of Obama.
  • February 25th to May 17th 2008, Obama camp paid $832,598 to Acorn.
  • Acorn Voter fraud.
  • Obama may have stolen the nomination through Acorn voter fraud.


https://citizenwells.wordpress.com/2008/10/10/obama-acorn-community-organizer-new-party-democratic-socialists-of-america-dsa-saul-alinsky-obama-acorn-attorney-exploited-poor-acorn-voter-fraud-obama-lied-about-his-connection-to-acorn/

There is plenty more at Citizen Wells on Obama’s connections to ACORN and Chicago corruption ties and how they created this mess. A simple search will find them.

Shadow Inventory Of Troubled Mortgages, Standard and Poors, US housing prices, Mortgage crisis may be far from over, More delinquencies and lower home prices are to come

Shadow Inventory Of Troubled Mortgages

From Standard and Poors, February 16, 2010.

“The Shadow Inventory Of Troubled Mortgages Could Undo U.S. Housing Price Gains”

“In summer 2009, the seasonally adjusted S&P/Case-Shiller Home Price Index rose for the first time in virtually two years. Since May 2009, the index has risen by over 3%, suggesting that the necessary correction to U.S. residential home prices is nearing an end. However, in Standard & Poor’s Ratings Services’ view, the mortgage crisis may be far from over. The overhang of homes heading toward liquidation suggests more delinquencies and lower home prices are to come.
The current “shadow inventory” (including all delinquent loans, not only those that are real estate owned [REO]) of troubled mortgages will likely take about 33 months?or nearly three years?to clear at the current rate of liquidations. Moreover, we believe this estimate is conservative, as we do not assume any loans that have yet to show any serious signs of distress to date will default in the future and further increase the overhang of homes. Nonetheless, we believe that in reality additional loans will default in the near future due to the weak economic environment, distressed residential home values, and the resulting contraction in the supply of mortgage finance.
We believe that the recent reversal in housing prices is the result of a temporary constriction in the supply of foreclosed homes on the market. This temporary constriction ensued because servicers have completed fewer foreclosures due to court delays, servicing backlogs, and political pressure to keep borrowers in their homes. However, there is a rapidly growing shadow inventory of properties where borrowers are delinquent but foreclosure has not been completed. Overall, it is our opinion that recent positive housing reports should not be construed as a sign that the distress in the residential housing market is abating, but rather should be attributed to the temporarily limited supply of homes on the market.”

“A Swelling Number Of Distressed Loans Creates The Shadow Inventory
The monthly balance of distressed loans currently outstanding relative to the monthly balance of those that pay off, or close, suggests that there is a growing shadow inventory of loans that need to undergo the closure process. In January 2005, the balance of distressed loans outstanding was about 18x that of distressed loans that closed. Today, the balance of outstanding to closed distressed loans has increased to about 31x (see chart 2).”

Chart 2

Read more:

http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245206147429

Obama lies, Mortgage crisis, Unemployment, December 14, 2009, Obama Bankers meeting, ACORN, Democrats, Barney Frank, Maxine Waters, Fannie Mae, Freddie Mac, Obama ACORN and Democrats caused housing and jobs crisis

“ACORN’s alliance with the Democratic Party is at the root of the current financial meltdown. And Barack Obama has stayed true to ACORN’s ways.”…Stanley Kurtz

 

Obama

Lies

Mortgage, Unemployment Crisis

Who is to blame?

 

The lying, SOB, usurper, Barack Obama is meeting with bankers today. Obama is attempting, once again, to coerce banks to lend money to people who cannot afford the loans. Consistent with his trend of lying, he blames the bankers for the mortgage and unemployment crisis.

However, facts and reality are not on Obama’s side.

The Citizen Wells has provided numerous articles on ACORN corruption, ACORN’s involvement in pressuring banks to make risky loans and Barack Obama’s long time ties to ACORN.

An article dated September 15, 2009 is loaded with facts that indict Obama and ACORN.

October 8, 2008 – Straight from the horse’s mouth

“ACORN Report
The ACORN Report is published by ACORN’s National Office and contains up-to-date information. We have ACORN Reports indexed by date and topic available.”

“City Limits February 1999
During its 15 years in New York City, ACORN has helped squatters claim derelict city-owned property, forced bankers to invest in low-income communities, and organized a war against the city’s workfare program.

It’s also developed a reputation for no-holds-barred tactics—getting results through adversarial campaigns against bankers, politicians and bureaucrats using confrontation and concession rather than consensus. ACORN, unlike most social service non-profits, scorns charity. Their goal is to help poor people seize power.”

This comes straight from the Acorn national office.
Note the following:

“Their goal is to help poor people seize power”

October 13, 2008 – Acorn contribution to mortgage crisis

“FOR years, ACORN had combined manipulation of the CRA with intimidation-protest tactics to force banks to lower credit standards. Its crusade, with help from Democrats in Congress, to push these high-risk “subprime” loans on banks is at the root of today’s economic meltdown.””

““Instead, Democrats like Rep. Barney Frank (D-Mass.) and Reps. Kennedy and Waters allied with the Clinton administration to broaden the acceptability of risky subprime loans throughout the financial system, thus precipitating our current crisis.

ACORN had come to Congress not only to protect the CRA from GOP reforms but also to expand the reach of quota-based lending to Fannie, Freddie and beyond. By steamrolling the GOP that March, it had crushed the last potential barrier to “change.”””

““ACORN’s alliance with the Democratic Party is at the root of the current financial meltdown. And Barack Obama has stayed true to ACORN’s ways.””

The Truth about Obama and ACORN

September 28, 2009 – Bank of America and other banks ignored warnings

“Do any Catholics work for Bank of America?
From Catholic News Service October 16, 2008.

“Bank of America takes recent allegations made against Acorn and Acorn Housing Corporation employees very seriously,”
What planet has Bank of America been on the past year?

Is this indicative of the power of the mainstream media?

Was Bank of America controlled by the Democrats or Obama camp?

No wonder Bank of America had financial problems.”

Bank of America ignored warnings

Fox News reports on Obama meeting with bankers, December 14, 2009

“White House Tells Bankers to Boost Lending After Bailout Successes”

“President Obama is calling on the financial industry to help dig the economy out of the pit the White House says it helped create, as the president and bank executives headed into a potentially tense meeting Monday morning.”

“The president set the tone for the meeting in an interview broadcast the night before in which he called Wall Street bankers “fat cats” whom he has little obligation to help. In response, the bankers plan to tell the president to stop oversimplifying their concerns.”

“”What the president’s going to say to the bankers is, you guys were part of the problem, you helped create an economic crisis here that cost 7 million Americans their jobs and now you have to be part of the solution,” White House senior adviser David Axelrod said on ABC’s “Good Morning America.”

Axelrod said the industry has to “accelerate lending to credible small businesses” and suggested Congress would take harsh action against the sector if it does not.

“People are not going to tolerate a situation where the bankers have a party, they pick up the tab and then the bankers pay themselves huge bonuses and they’re not lending,” Axelrod said, adding that bankers should be awarded with long-term stock as opposed to up-front cash bonuses.

The White House also wants Wall Street to fall in line with Obama and back a proposal for a consumer protection agency that cleared the House last week.”

“”He can say what he wants, but we’re not going to go back to the kind of lending that put us in this mess,” said a person who is helping prepare executives for the meeting but spoke anonymously because of lack of authorization to discuss the plans.”

Read more:

http://www.foxnews.com/politics/2009/12/14/obama-slams-fat-cat-bankers-eve-meeting/

I, for one, am fed up with the lies and manipulation coming from the lying SOB Obama and cronies such as David Axelrod. I am asking you to spread this information far and wide. The American people must know the truth.

NY Times, Acorn, Obama, March 30, 2009, Times pulled story, Obama ties to Acorn, House Judiciary subcommittee, Game changer story, Anita Moncrief, confidential informant, Times reporter Stephanie Strom, close link between ACORN, Project Vote and the Obama campaign

The NY Times, long known to be biased, pulled a story about Barack
Obama’s campaign ties to ACORN. The story was pulled on October 21,
2008 because it would have been a “a game changer.”

“‘New York Times’ Spiked Obama Donor Story”

“Congressional Testimony: ‘Game-Changer’ Article Would Have Connected
Campaign With ACORN

By Michael P. Tremoglie, The Bulletin
Monday, March 30, 2009

A lawyer involved with legal action against Association of Community
Organizations for Reform Now (ACORN) told a House Judiciary subcommittee
on March 19 The New York Times had killed a story in October that would
have shown a close link between ACORN, Project Vote and the Obama campaign
because it would have been a “a game changer.”

Heather Heidelbaugh, who represented the Pennsylvania Republican State
Committee in the lawsuit against the group, recounted for the ommittee what
she had been told by a former ACORN worker who had worked in the group’s
Washington, D.C. office. The former worker, Anita Moncrief, told Ms.
Heidelbaugh last October, during the state committee’s litigation against
ACORN, she had been a “confidential informant for several months to The New
York Times reporter, Stephanie Strom.”

Ms. Moncrief had been providing Ms. Strom with information about ACORN’s
election activities. Ms. Strom had written several stories based on
information Ms. Moncrief had given her.

During her testimony, Ms. Heidelbaugh said Ms. Moncrief had told her The
New York Times articles stopped when she revealed that the Obama presidential
campaign had sent its maxed-out donor list to ACORN’s Washington, D.C. office.”

““If true, The New York Times is showing once again that it is a not an
impartial observer of the political scene,” he said. “If they want to be a
mouthpiece for the Democratic Party, they should put Barack Obama approves
of this in their newspaper.””

Read more:

http://thebulletin.us/articles/2009/03/30/top_stories/doc49d0a73c7f98e547489394.txt
Dick Morris on O’Reilly April 1, 2009

There is plenty about Acorn, what their style of community organizing
really is and Obama’s ties to Acorn, voter fraud  and socialism that
the MSM could have covered, but mostly chose to gloss over or ignore.
From the Citizen Wells blog:

Voter fraud, November 4, 2008

Acorn Tax Lien

Obama lies, Truth about Acorn

Acorn and risky sub prime loans

Obama, Acorn and Socialists

Acorn, Obama, Patrick Fitzgerald FBI investigation

Acorn voter fraud, Obama, Missouri voter fraud

Obama,Acorn, New Party, Democratic Socialists of America

Obama, Acorn, Fannie Mae, Freddie Mac, Voter fraud

Obama Campaign, Texas voter fraud, Dr. Lynette Long investigates

Obama, suspicious payment to Acorn, voter fraud

Obama, Acorn, FEC, money laundering scandal

Obama and McCain debate, October 15, 2008, Obama lies, Obama and Acorn, Truth about Acorn, Obama socialist, Acorn ties to socialist parties, Community organizers use poor for political agenda

John McCain is an honorable man who has a long history of serving his
country and fighting for what is right.
As John McCain stated last night, Obama is eloquent and has a dubious
record. A large part of Obama’s record is tied to Acorn, the corrupt
organization that is deeply involved in voter fraud.

Do you want an eloquent speaker that panders to groups wanting government handouts and constantly lies?

Once again last night, Obama lied about his involvement with Acorn.
John McCain, the decent man and statesmam, brought up several Acorn
connections to Obama, but did not go for the jugular. I would have gone
for the jugular. Revealing the truth about Obama is not being negative.  It is Obama’s life that is so negative.

Compare what Obama said during the debate last night, Wednesday, October 15, 2008, to the following:

Report to Catholic Bishops reveals the true nature of Acorn.
Acorn uses poor for political Agenda. Obama and Acorn ties to
socialist parties.

The truth about Acorn, Obama socialism and community organizers

Obama lied about his connections to Acorn

Obama ties to Acorn

“ACORN’s alliance with the Democratic Party is at the root of the current financial meltdown. And Barack Obama has stayed true to ACORN’s ways.”

Mortgage crisis, Acorn, Democrats, Obama

FEC investigates campaign contributions, FBI investigates Acorn

FEC and FBI investigations

Recent Obama campaign payment to Acorn and voter fraud

Obama campaign paid $832,598 to Acorn

 

Petition to Impeach, expel Senator Obama

Acorn, Obama, Stanley Kurtz, NY Post, October 13, 2008, Acorn and Democrat allies, Built Mortgage Disaster, Radical agenda, 1995, Urged on by ACORN, Congressional Democrats, Clinton, High risk loans

Stanley Kurtz has written a very compelling article of how Acorn used it’s influence with congress to push the acceptability of risky subprime loans. Here are some exerpts from the must read article:

“SPREADING THE VIRUS
HOW ACORN & ITS DEM ALLIES BUILT THE MORTGAGE DISASTER

“By STANLEY KURTZ”
“TO discover the roots of to day’s economic crisis, consider a tale from 1995.

That March, House Speaker Newt Gingrich was scheduled to address a meeting of county commissioners at the Washington Hilton. But, first, some 500 protesters from the Association of Community Organizations for Reform Now (ACORN) poured into the ballroom from both the kitchen and the main entrance.

Hotel staffers who tried to block them were quickly overwhelmed by demonstrators chanting, “Nuke Newt!” and “We want Newt!” Jamming the aisles, carrying bullhorns and taunting the assembled county commissioners, demonstrators swiftly took over the head table and commandeered the microphone, sending two members of Congress scurrying.”

“Yet ACORN had only just begun. Two days later, 50 to 100 of the same protesters hit their main target – a House Banking subcommittee considering changes to the Community Reinvestment Act, a law that allows groups like ACORN to force banks into making high-risk loans to low-credit customers.

The CRA’s ostensible purpose is to prevent banks from discriminating against minorities. But Rep. Marge Roukema (R-NJ), who chaired the subcommittee, was worried that charges of discrimination had become an excuse for lowering credit standards. She warned that new, Democrat-proposed CRA regulations could amount to an illegal quota system.

FOR years, ACORN had combined manipulation of the CRA with intimidation-protest tactics to force banks to lower credit standards. Its crusade, with help from Democrats in Congress, to push these high-risk “subprime” loans on banks is at the root of today’s economic meltdown.”

“So ACORN’s Democratic friends in Congress moved to force Fannie Mae and Freddie Mac to dispense with normal credit standards. Throughout the early ’90s, they imposed ever-increasing subprime-lending quotas on Fannie and Freddie.”

“Requests to the Capital Police to release the activists from Sen. Ted Kennedy (D-Mass.) and Rep. Joe Kennedy (D-Mass,) failed. Then Rep. Maxine Waters (D-Calif.) showed up at the jail and refused to leave until the protesters were released; the Capital Police relented.”

“Instead, Democrats like Rep. Barney Frank (D-Mass.) and Reps. Kennedy and Waters allied with the Clinton administration to broaden the acceptability of risky subprime loans throughout the financial system, thus precipitating our current crisis.

ACORN had come to Congress not only to protect the CRA from GOP reforms but also to expand the reach of quota-based lending to Fannie, Freddie and beyond. By steamrolling the GOP that March, it had crushed the last potential barrier to “change.””

“HOW does Barack Obama fit into all of this? Obama has been a key ally of Chicago ACORN going back to his days as a community organizer.

Later, as a young lawyer, he offered leadership training to the activists who were forcing Chicago banks into high-risk subprime loans. And when he made it on to the boards of Chicago’s Woods Fund and the Chicago Annenberg Challenge, he channeled money ACORN’s way.

Obama was perfectly aware of ACORN’s intimidation tactics – indeed, he oversaw a Woods Fund report that boasted of managing to fund the radical group despite its shocking behavior.

And as a lawmaker, in Illinois and in Washington, he has continued to back ACORN’s leglislative agenda.”

“ACORN’s alliance with the Democratic Party is at the root of the current financial meltdown. And Barack Obama has stayed true to ACORN’s ways.”

Read the rest of this great article here and by all means tell everyone you know:

 http://www.nypost.com/seven/10132008/postopinion/opedcolumnists/spreading_the_virus_133375.htm

Disgusted with Obama and Acorn?

http://obamaimpeachment.org

Obama, Acorn, Fannie Mae, Freddie Mac, Voter fraud, Seize power, Saul Alinsky, Raila Odinga, Obama and Acorn socialists, Smoking gun

If you are not aware of the many ties Obama has to Acorn, you have some
work to do. You can find more on this blog, Michelle Malkin’s site,
Stanley Kurtz articles and many other good sources. Acorn has been
involved in voter fraud for years and just yesterday, the Las Vegas
office of Acorn was raided by law enforcement. Acorn was also a major
force in creating the Fannie Mae, Freddie Mac mortgage and financial
crisis.

Below is an exerpt from an official Acorn document. Read it carefully,
noting the highlighted words and relate their philosophy and actions
to current events. By all means, ask questions, do more reading and
tell everyone you know. As John McCain stated in the debate last night,
check the records of both candidates.
“ACORN Report
The ACORN Report is published by ACORN’s National Office and contains up-to-date information. We have ACORN Reports indexed by date and topic available.”

“City Limits February 1999
During its 15 years in New York City, ACORN has helped squatters claim derelict city-owned property, forced bankers to invest in low-income communities, and organized a war against the city’s workfare program.

It’s also developed a reputation for no-holds-barred tactics—getting results through adversarial campaigns against bankers, politicians and bureaucrats using confrontation and concession rather than consensus. ACORN, unlike most social service non-profits, scorns charity. Their goal is to help poor people seize power.”

This comes straight from the Acorn national office.
Note the following:

“Their goal is to help poor people seize power”

It does not say, as John Mccain or Ronald Reagan would say, help poor
people to better themselves and their economic condition, but rather
“seize power.”

This comes straight out of the playbook of Obama, Saul Alinsky and Raila Odinga.

If you are outraged at this attempt to socialize America, visit:

http://obamaimpeachment.org

Read the Acorn article:

http://web.archive.org/web/20010421194739/www.acorn.org/acorn-reports/acornrep.politics.content.html

Obama, Barney Frank, Fannie Mae, Freddie Mac, Democrats cause of crisis, McCain warned, McCain reformer, Youtube video, Democrat coverups, ** Bailout Truth **

“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

Barney Frank 2003 in response to Bush administration overhaul plan.

“I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”

John McCain

There is a new YouTube video out that reveals the truth about problems leading up to the bailout crisis and who caused them:

“Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis.

At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.”

From a recent Citizen Wells article:

“Obama and his democrat buddies never let the truth get in the way
of a good story. Never has this been more true than now in the face
of a financial crisis in this country. A financial crisis Obama and
his party created. What do Obama and Barney Frank have in common
besides being Democrats. They both were listed in the top 25
recipients of campaign contributions from Fannie Mae and Freddie Mac and they both are hypocrites. Obama is number 3 on the the list
and Barney Frank is 16. Obama, the candidate of change, was in
bed with Fannie Mae and Freddie Mac yet he criticizes John McCain,
who along with George Bush, tried to fix the problem.”

Read more here:

https://citizenwells.wordpress.com/2008/09/17/obama-barney-frank-fannie-mae-freddie-mac-campaign-contributions-democrats-lobbyists-truth-about-obama-more-obama-lies-mccain-reformer/

Visit Philip J Berg’s site and contribute to his lawsuit:

http://obamacrimes.com

Send a clear message to Obama and congress:

http://obamaimpeachment.org

I would like to thank Mighty Quinn, a commenter on this blog, for bringing the YouTube video to my attention.

Obama, Charlotte NC, Sunday, September 21, 2008, Protestors, Obama challenged?, Obama needs NC, Voter fraud, Acorn, VA voter fraud, ** Update **

** Update Below **

Barack Obama will be in Charlotte NC on Sunday, September 21, 2008. Obama needs to win in NC and the race is close. There are reports of voter fraud in Virginia and no doubt it will occur in NC. Obama’s payments to Acorn and his long time association with Acorn will insure that.

Will there be protestors in Charlotte?

Will anyone ask Obama tough questions?

Will anyone challenge Obama on:

  • Long time close association to Tony Rezko.
  • Campaign contributions, state grants with Robert Blackwell, Shomon.
  • Being # 2 on campaign contributions from Fannie Mae, Freddie Mac.
  • Long time ties to William Ayers.
  • Long time ties to Jeremiah Wright, Louis Farrakhan.
  • Illegal trip to Kenya in 2006.
  • Philip J Berg lawsuit. Obama not qualified to be president.
  • Petition to Impeach, expel Senator Obama.
  • Did Obama swear allegiance to US?
  • Did Obama lie on IL bar application?
  • Did Obama  use drugs and have sex with Larry Sinclair in Nov 1999?

Citizen Wells will followup on Obama’s visit and provide an update.

** Update **

I just returned from the Obama rally in downtown Charlotte. This was a spur of the moment trip. Here are some observations:

There was a large crowd that stretched around many city blocks.

There were 10,000 reserved tickets. An unofficial estimate of the crowd was as high as 50,000. I consistently heard the people in line being told they would all be able to get in. This was not the truth.

The crowd remained orderly. The most commotion I noticed was between pro and anti abortion proponents.

I got as close as about 100 ft behind the stage. It was difficult to hear but I got some photos.

I walked quite a distance and as I was walking away, I thought about all the good people of all skin colors that have been fooled by Obama. These people want change in Washington but do not realize that the candidate they have put their confidence in is anything but the right kind of change.

I will post a new article soon and provide some photos.

Obama, Barney Frank, Fannie Mae, Freddie Mac, Campaign contributions, Democrats, Lobbyists, Truth about Obama, More Obama lies, McCain reformer

“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.

Barney Frank 2003 in response to Bush administration overhaul plan.
“I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”

John McCain

 Obama and his democrat buddies never let the truth get in the way
of a good story. Never has this been more true than now in the face
of a financial crisis in this country. A financial crisis Obama and
his party created. What do Obama and Barney Frank have in common
besides being Democrats. They both were listed in the top 25
recipients of campaign contributions from Fannie Mae and Freddie Mac
and they both are hypocrites. Obama is number 3 on the the list
and Barney Frank is 16. Obama, the candidate of change, was in
bed with Fannie Mae and Freddie Mac yet he criticizes John McCain,
who along with George Bush, tried to fix the problem.
From a Wall Street Journal Online article:
This is stunningly naive. Recent statements by Barney Frank (D., Mass.), the chairman of the House Financial Services Committee, and Chuck Schumer (D., N.Y.), a powerful member of the Senate Banking Committee, make clear that Congress will never let them be privatized, broken up, slimmed down, nationalized or any of the other options hopeful reformers are putting forth today. Fannie and Freddie in their current form are just what Congress wants: an inexhaustible source of campaign contributions and funds for favored groups.
http://online.wsj.com/article/SB122117569863425755.html?mod=googlenews_wsj

Federal Housing Enterprise Regulatory Reform Act of 2005

Senate sponsors

Sen. Charles Hagel [R, NE]
Sen. Elizabeth Dole [R, NC]
Sen. John McCain [R, AZ]
Sen. John Sununu [R, NH]

House bill sponsors:

Rep. Richard Baker [R, LA-6]
Rep. Robert Aderholt [R, AL-4]
Rep. James Barrett [R, SC-3]
Rep. Roy Blunt [R, MO-7]
Rep. Geoff Davis [R, KY-4]
Rep. Tom Feeney [R, FL-24]
Michael Fitzpatrick
Rep. E. Scott Garrett [R, NJ-5]
Rep. Paul Gillmor [R, OH-5]
Rep. Jeb Hensarling [R, TX-5]
Rep. Walter Jones [R, NC-3]
Rep. Thaddeus McCotter [R, MI-11]
Rep. Patrick Mchenry [R, NC-10]
Rep. Ileana Ros-Lehtinen [R, FL-18]
Rep. Paul Ryan [R, WI-1]
Rep. Christopher Shays [R, CT-4]
Rep. Frank Wolf [R, VA-10]

Notice that there were no Democrat sponsors.