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 .