Acorn and the Housing Bubble November 12, 2009, 7:10 p.m. ET
The United States government…at the urging of ACORN…Obama’s Socialist group…created risky mortgages. The rest is history.
“All agree that the bursting of the housing bubble caused the financial collapse of 2008. Most agree that the housing bubble started in 1997. Less well understood is that this bubble was the result of government policies that lowered mortgage-lending standards to increase home ownership. One of the key players was the controversial liberal advocacy group, Acorn (Association of Community Organizations for Reform Now).”
This is an Obama failure. Risky mortgages were the policy that got us into this mess, and Obama was part of it.
Obama only represented ACORN…malarkey. Officials in ACORN were in Obama’s circles…and vice versa.
“This is a story we’ve largely missed. While Obama’s Acorn connection has not gone entirely unreported, its depth, extent, and significance have been poorly understood. Typically, media background pieces note that, on behalf of Acorn, Obama and a team of Chicago attorneys won a 1995 suit forcing the state of Illinois to implement the federal “motor-voter” bill. In fact, Obama’s Acorn connection is far more extensive. In the few stories where Obama’s role as an Acorn “leadership trainer” is noted, or his seats on the boards of foundations that may have supported Acorn are discussed, there is little follow-up. Even these more extensive reports miss many aspects of Obama’s ties to Acorn.” Inside Obama’s Acorn May 29, 2008 4:00 A.M.
To be continued.