ACORN's empire expands through ObamaCare and Obama financial plan

September 22, 4:31 PMDC SCOTUS ExaminerHans Bader

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ACORN is a left-wing group that recently was caught on video promoting underage prostitution.  It launched Obama’s career as a community organizer.  He has long-standing ties to ACORN, and an ACORN affiliate received received $800,000 from Obama’s campaign.

Since underage prostitution violates laws against child rape and sexual slave-trafficking, Congress recently voted to cut off federal housing funds to ACORN.  (ACORN's chief defender in Congress, House Banking Committee Barney Frank (D-Mass.), claims that the cut-off is unconstitutional).

But since most federal money goes to ACORN-related entities and affiliates, not ACORN itself, Congress's action is expected to have little practical effect.  (House Majority Leader Steny Hoyer (D-Md.) suggests that Congress's action was purely symbolic, and not expected to have any effect on ACORN).

Indeed, ACORN's empire is likely to expand thanks to pending legislation to broaden its and its affiliates' ability to shake down banks.  ACORN, a beneficiary of many welfare and war-on-poverty programs, is a "creature of the Community Reinvestment Act" (CRA), which gives groups like ACORN the ability to shake down banks seeking to obtain regulatory approvals, by accusing them of making insufficient low-income loans.

The Community Reinvestment Act was a key contributor to the financial crisis, by forcing banks to make risky, low-income loans.  Yet Obama is now proposing a new agency to more stringently enforce it without regard for banks’ financial safety and soundness.  Obama's Congressional allies are working to expand the CRA's reach and make it "explicitly race-based."

ACORN has received taxpayer money despite a long history of financial fraud and voter registration fraud.  ACORN helped spawn the mortgage crisis by promoting “liar loans.”   

ACORN also may benefit from the Obama health-care plan, which contains subsidies for community organizers linked to ACORN. (ObamaCare also contains racial preferences and other dubious provisions that have drawn criticism from the U.S. Commission on Civil Rights and constitutional law professors).

While funneling money to community organizers like ACORN, Obama's health care plan would raise taxes, break promises, harm people with insurance, explode the budget deficit, destroy many inexpensive health-care plans, and take away important freedoms.

While enriching ACORN, Obama’s proposed financial rules overhaul does absolutely nothing about the reckless government-sponsored mortgage giants Fannie Mae and Freddie Mac, admits Obama’s Treasury Secretary, tax cheat Timothy Geithner, even though he admits that “Fannie and Freddie were a core part of what went wrong in our system." The mortgage crisis was caused partly by the reckless government-sponsored mortgage giants Fannie Mae and Freddie Mac, and by federal affordable-housing mandates, which created an artificial market for junky sub-prime mortgages.

Worse, Obama’s plan is “largely the product of extensive conversations” with two lawmakers responsible for the corrupt political status quo, Chris Dodd and Barney Frank.