printRepresentative Michele Bachmann, Republican Congresswoman from Minnesota, inadvertently traces the “Minority Housing Meltdown”: The community reinvestment Act” (CRA), a creation of the federal Frankenstein, compelled private banks to make home loans to individuals with poor credit. Since no bank wants to make bad loans, this legislation in effect threatens banks to so do. Unless the bank lends to those unworthy of credit, it will not be allowed to do interstate business or expand its operations.
But, the benevolent government also offers the errant banks redemption. In order to get a positive Community Reinvestment Act rating, a bank may give over cash or in-kind donations to ACORN. A bank can also partner with ACORN to make loans to the pool of poor they represent.
By the way, where are the media stories about Super Mom Bachman who has raised five kids and 23 foster children? Maybe when the morons are through belaboring Michele Obama’s biceps, they can tell us more about Bachmann. (Here you are welcome to improvise with your own clichés of improbability.)
Fast forward toward the end of the YouTube clip for the Bachmann interview.
Update (Oct. 16): No ACORN essay is complete without mention of Bush’s crucial role in the mortgage meltdown. I have not studied the NRO Kurtz piece, but somehow I doubt it gives Bush the “credit” he is due in the diversity depression.
In 2003, Norman Singleton wrote this:
“Today the House passed, by voice vote, the American Dream Downpayment Act (HR 1276). This new welfare program forces taxpayers to subsidize the downpayments of ‘low income’ Americans. This new welfare program is a Bush Administration priority and was sponsored by Katherine Harris. The GOP is already touting how this will help with their outreach to minorities.”
Read Ron Paul’s rapid-fire response to the Bush affirmative action mortgage program.
Unless our token conservatives pay their “respects” to Bush, author of the “ownership society,” reborn conservatives—NRO, Weekly Standard—should not be lauded.
And by the by, the many poisonous pundits should atone again and again for being wrong at the time, and misleading the masses for Benito Bush. On second thought, why don’t they just go away?!
Take “snake-oil merchants like Stephen Moore of the Wall Street Journal,” who is Fox’s new Philosopher King. Moore obfuscated about the bailout (while making the obligatory noises about the merits of the free market he flouts). And Moore’s previous book was entitled Bullish on Bush: How the Ownership Society Is Making America Richer. If that’s not an indictment, nothing is. ‘Bush’s bailout society’ is an instantiation of the principles upon which ‘Bush’s ownership society’ was founded: credit for those who are not creditworthy.”
The only pundit who was vocal about the Bush economics was Michele Malkin. Not party hack Ann Coulter.
[Thanks, Stephen; I have been rather ill, but I hope to be back at my WND perch next week with renewed verve.]
I’d wager that this same Community Reinvestment ACORN blackmail went full bore under the 8 years of Compassionate Conservatism (e.g. Bush II). The question is – is Michele just trying to get in some cheap “gotcha” ACORN talking points at the Democrats [just like the Democrats milked Hurricane Katrina] – or would she really stand for liberty by:
ABOLISHING the Federal Reserve System
ABOLISHING the Federal Housing Administration
ABOLISHING Fannie Mae, Freddie Mac, Sallie Mae, and these other pseudo-corporate banksters
…. Or is it “aha, we caught ACORN helping ‘hookers‘ so if you elect US instead of Obama, we’ll force the banks to give to more chaste community organizers”??
Michele has a record; check it out. I will take a majority of congress with the character of a Bachmann than what we have now.
Cap & Trade the choice between Liberty & Tyranny
http://www.realclearpolitics.com/video/2009/06/26/bachmann_cap-and-trade_is_choice_of_liberty_and_tyranny.html
Taxpayer Protection and Anti-Fraud Act
http://bachmann.house.gov/News/DocumentSingle.aspx?DocumentID=130885
MP
Why not ask Bachmann where she stands on abolishing those agencies?
Don’t forget, Bachmann is all in favor of deficit spending on empire building.
Now if we could only get someone named ‘Turner’ to join up ….
“ACORN”, what an ironic name. The Fed is a true acorn, an acorn of corruption. “Flower” is a more appropriate name for “ACORN”. Let those who support the Fed take a deep whiff of the “fragrance.”
I’ll say it again, the Fed has corrupted all aspects of American society.
Long ago, some people took this to heart and perverted it:
Men prepare a meal for enjoyment, and wine makes life merry, and money is the answer to everything. Ecclesiastes 10:19
From M.B.’s 2nd link: “Due to email volume, Representative Bachmann will only be able to answer emails from Minnesota’s 6th district. Please enter your zip code below for verification” – but I would like to know whether Michele is just a cute-looking “less-bad” Congressman or actually one of those rare “good guys” like Ron Paul.
From the 5/29/08 Stanely Kurtz, ACORN was quite active even while the Republicans ran Congress and the White House. But the big question for me is not whether Housing and Urban Development (HUD) gives money to ACORN as much as whether there should even BE a HUD – even if HUD gave out money to Mother Theresa.
Personally, I’d just as soon see my taxpayer dollars funding American hookers and strippers than padding Hamid Karzai’s Swiss bank account. I’d enjoy a lapdance far more than watching a Reaper drone striking some Pushtun’s mud hut.
I made up my mind long ago about Ms Bachmann. She’s dynamite and a breath of fresh air coming out of that fetid, reptile infested, swamp known as Washington DC. However, if I wasn’t sure about her all I would have to do would be to look at the slimeballs of the left who are attacking and demonizing her to realize she is the real thing.
[She’s easy on the eye too.]
“By the way, where are the media stories about Super Mom Bachman who has raised five kids and 23 foster children”
The media rarely does stories about parents who raise their kids or well- paid government contractors who do their jobs.
The best piece I’ve read on ACORN, CRA, and the housing meltdown is “Planting the Seeds of Disaster” by Stanley Kurtz on NRO. That ACORN managed to make money while destroying our economy is hardly surprising. If leftist do-gooders couldn’t use government to extort money for themselves, there’d be a whole lot fewer leftist do-gooders.
Of course, the exploitation of the CRA for the personal gain of ACORN activists is the least of our worries. Our most serious problem is that the leftist idiots now running the country have learned nothing from the recent economic meltdown. I fear that most of America’s voters expect government to give them all the good things in life and shrug when asked who’s going to pay for it all. So I doubt that our present “leadership” will be voted out any time soon. Our situation can only become worse.
“[She’s easy on the eye too.]” Ilana
From “Beauty is only skin deep but ugly goes all the way to the bone” I infer that we at least have a chance with “Beauty”.
Still, one must admit that ugly politicians are one way to keep the population from paying attention to what they are doing. Surely, one proof that Ron Paul is a saint is that he can deal with Barney Frank without puking.
MP
If your referencing my 2nd link
http://bachmann.house.gov/News/DocumentSingle.aspx?DocumentID=130885
It has a ph # and the persons in her DC office to talk to.
Contact: Debbee Keller or Dave Dziok 202-225-2331
I have called her office and they answered my ? and I am in Ca.
I wish more peeps would make more personal contact (phone or in person) with all the Reps from local to national, I think it is a more effective means of communication to make your views known ,than sending emails on these dingbat puters. LOLLLLLLLLLL !!!!!!!!!!!!!!!!!!!!!!!!
BTW, MP, your comedy writing is pretty darn good also.
Certainly, George W. Bush deserves his share of the blame, and it’s true that the Kurtz NRO piece doesn’t mention him at all. That might have been motivated by a recognition that Bush was already past history rather than by partisanship. Kurtz does, however, mention the crucial role of Barack Obama in creating the housing bubble. If more people had paid attention, Obama might not have become president.
You’ll probably respond that McCain would be no better, but we’ll never really know, will we? We can be certain that Obama will transform America into a third world cesspool given enough time in office. Sometime during Obama’s fourth or fifth term, most of us will remember our last white president more fondly than not.
[Thanks, Stephen; I have been rather ill, but I hope to be back at my WND perch next week with renewed verve.] Ilana
Ouch! Ilana, you take better care of yourself. What would we do without you?