ACORN and Obama at the Heart of the Mortgage Meltdown

Starting in the nineties, a young attorney named Barack Obama began working with ACORN to promote mortgages for those who could not afford them.

At the time, ACORN consisted of community agitators, who falsely accused banks of "redlining" (failing to offer mortgages to the urban poor). These groups would pack bank lobbies and harass customers in order to intimidate the institutions and force the government to lower underwriting standards.

A former community agitator and ACORN attorney named Barack Obama sued Citibank in 1994, just one of hundreds of nuisance lawsuits filed by ACORN and its affiliates to loosen mortgage underwriting standards.

The inevitable result is still unfolding. But this much is clear: ACORN, its attorneys and its sycophants in Congress unleashed a catastrophic meltdown on America. It used government power to to force financial institutions to underwrite completely unqualified applicants . .

. . without documentation of income, citizenship, equity or any other reasonable measure.

Hope. And Change.

One out of two ain’t bad. We got the change. Hope, however, is in short supply.


Andrew Breithbart’s http://biggovernment.com/