A MONTPELIER VIEW
via Free Republic
Does anyone remember the Association of Community Organizations for Reform Now (ACORN )? It was a “coalition” of community-based organizations advocating for low-income and moderate-income families in such areas as voter corruption, fraudulent health care claims, and affordable housing. In the latter category, they supported the Community Reinvestment Act, signed into law in 1977 by Jimmy Carter (who many may recall was the second worst president in US history), urged on by Gale Cincotta of National People’s Action Network (Chicago), and which through a succession of revisions, led to the collapse of the US housing market .
The leftist view of the housing market collapse was (and I assume continues to be) that greedy financial institutions made bad loans and illegal deals, trapping poor folk into their web of lies and distortions; and if we were speaking about Countrywide Home Loans, and Washington Mutual Savings and Loans, then that would be a true statement. It is also true that former Senator Chris Dodd and former Representative Barney Frank enriched themselves from such organizations while exercising congressional oversight of their activities. Of course, one cannot help but wonder why Dodd and Frank aren’t in jail, and ideally, in the same cell.
Several of the ACORN organizations attempted to disassociate themselves with the national organization by founding new organizations, which include the Alliance of Californians for Community Empowerment, New York Communities for Change, and Affordable Housing Centers of America. Oh, and one more (it seems) calling itself NeighborWorks America .
The Neighborhood Reinvestment Corporation, doing business as NeighborWorks America is a congressionally chartered nonprofit organization supporting community development in the United States. If you are a particularly astute individual, you may be saying to yourself right now, “Hey … wait just a damn minute.” This would suggest that you have concluded, as I have, that NeighborWorks America is participating with the federal government in recreating yet another housing bubble. Like me, you may be assuming that the reason this administration is so interested in repeating this disaster is because it was so darn profitable the first time around —particularly among such leftists as Franklin Raines, Jaime Gorelick, and the friends of Bill Clinton and George Bush that are deeply entrenched with Goldman Sachs (who pay Hillary Clinton massive bucks to speak to their employees and shareholders).
The NeighborWorks network consists of 235 “community development” organizations working in nearly 4,358 urban, suburban, and rural communities across the nation. It would not surprise me to learn that NeighborWorks America is in some way associated with New Communities Land Trust (a Charles and Shirley Sherrod scam) helping black farmers perpetrate fraud against the American taxpayer —you know, because their ancestors were once slaves, heard of someone who was a slave, or once read Uncle Tom’s Cabin. You do have to hand it to old Shirley Sherrod, though … not many people employed by the federal government get to sue the federal government for tens of millions of dollars. Naturally, Sherrod and Eric Holder have a lot in common: they are both racists.
Speaking of which, in a recent legal action pushed forward by the racist Holder, JP Morgan Chase has agreed to pay a $13 billion settlement over mortgage backed securities sold ahead of the financial crisis, and also for fraudulently bundling and marketing securities, which contributed to the collapse of the housing market. The issue here is the allegation that JPMorgan and firms it later purchased, Bear Stearns, Countrywide Home Loans, Inc., and Washington Mutual, sold risky mortgage securities during the housing bubble while misrepresenting their quality. These securities later failed in huge numbers, playing a key role in the 2008 crisis .
Of this $13 billion settlement, an amazing $4 billion will be funneled to “community organizations” that are friends of Obama and Holder —black run organizations, I might add, to help people who cannot afford to purchase homes, to purchase homes. According to CNN, Eric Holder said in a statement, “Without a doubt, the conduct uncovered in this investigation helped sow the seeds of the mortgage meltdown.” This presumably explains why Eric Holder is attempting to play this tune for a second time. Plus, he knows that he will never be held legally accountable for his obvious corruption: it is illegal for the United States government to provide financial rewards to partisan cronies.
Actually, this is my point. Someone said that crime doesn’t pay, but it isn’t true. Crime does pay. In fact, it pays so well that individuals appointed by a corrupt president do not even attempt to hide the fact, or the extent of their corruption. And should anyone attempt to make the argument that Eric Holder didn’t personally receive any of these funds, my argument is that we don’t know that yet. When Eric Holder is no longer Attorney General, will he find his way to the top of NeighborWorks America and reap his due reward, or find a place at the feeding trough at Goldman Sachs, at Freddie Mac, or at AIG?
- Americans are losing their private health care plans in order to fund a scheme to cover uninsured minorities, illegals, and other miscreants (such as Sandra Fluke, who admits that her libido demands about $3,000 annually in government subsidized birth control pills and other toys)
- Americans are being asked to ignore the fact that Obama is paying off his community-organizer buddies with openly provocative graft, and
- The racist Eric Holder is setting the scene for yet another housing bubble in the future
Is this a great country, or what?