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ACORN Goes for Broke

Obama’s former employer is on the verge of declaring bankruptcy.

As its financial resources dwindle, radical advocacy group and organized crime syndicate ACORN may have to file for bankruptcy protection before Christmas, ACORN insiders say.

“They may have to file for bankruptcy if they don’t have several big pending grants approved or get emergency loans,” a highly placed ACORN source told me over the weekend. This information bolsters Rep. Darrell Issa’s (R-Calif.) claim last week that ACORN is in turmoil amidst internal power struggles and on the verge of bankruptcy.

Given that ACORN is a network of hundreds of affiliated nonprofits, it’s not exactly clear how a bankruptcy filing would work, but the idea is under serious consideration by ACORN’s leadership. It was discussed at length at the group’s most recent national board meeting, which took place in the suburbs of Washington, D.C., during the Oct. 14-15 weekend, ACORN sources told me.

But even if ACORN were to go bankrupt, that doesn’t mean it would disappear.

ACORN may dissolve and then re-emerge as a new organization, the group’s lawyer Arthur Z. Schwartz says. Such a re-organization may involve “the creation of new nonprofit entities in each state where ACORN functions, as ACORN considers moving from a centralized corporate structure, to a decentralized federated structure,” Schwartz said. “ACORN will need help from people who have handled rebranding.”

As of Nov. 11, ACORN and its affiliates owed at least $2,328,596 in long overdue back taxes to all levels of government. Many of the tax liens, which are only issued by creditor tax agencies after a tax debt has become seriously delinquent, do not appear in the Nexis database, so the actual total may be much higher. ACORN has been negotiating with tax collectors to have interest on its tax debts waived and to have some of the debts partially forgiven.

The new tax lien data throw new light on why ACORN can’t sell its former headquarters at 1024 Elysian Fields Ave. in New Orleans. French Quarter Realty is asking $835,000 for the property, which is now weighed down by a whopping $1,278,862 in tax liens.

Of that nearly $1.3 million, $619,271 is owed to the IRS. It’s unclear why the Obama administration’s tax enforcers haven’t seized the property yet. Perhaps the president is extending a courtesy to his former employer.

Most of the taxes ACORN and its affiliates failed to pay may be payroll taxes. Directors of ACORN and its affiliates may find themselves in for a rude shock because even in bankruptcy directors can find themselves personally liable for payroll deductions for taxes that were not remitted to the government.

Federal funding for ACORN has been cut off until at least Dec. 18 by Congress. Some big foundations and corporate donors are now shunning ACORN in light of the undercover prostitution sting videos that began surfacing in September.

Out of desperation the group filed a lawsuit last week against the federal government making the argument that in effect it has a constitutional right to receive public funds. The action was filed by the allegedly terrorist-funded Center for Constitutional Rights, whose Che Guevara-loving president, Michael Ratner, has a vested interest in the success of ACORN.

This is the same dubious argument Rep. Jerrold Nadler (D-N.Y.), a longtime ally of ACORN who funds and has been endorsed by the group’s partisan arm, the Working Families Party of New York, has made based on the Constitution’s ban on bills of attainder.

Nadler heads a congressional subcommittee that may be investigating ACORN in the not-too-distant future and has been providing advice to ACORN’s lawyer. Ilan Kayatsky, Nadler’s communications director, refuses to return my calls to comment on the apparent conflict of interest.

 

topics:
ACORN, Jerrold Nadler

About the Author

Matthew Vadum is an award-winning investigative journalist at a conservative watchdog group in Washington, D.C. Vadum is also author of Subversion Inc: How Obama’s ACORN Red Shirts are Still Terrorizing and Ripping Off American Taxpayers.

Letter to the Editor View all comments (51) |

Pingback| 11.16.09 @ 7:01AM

Organized crime syndicate ACORN may have to file for bankruptcy protection before Chr links to this page. Here’s an excerpt:

news and opinion … a daily roundup of what you might have missed. Organized crime syndicate ACORN may have to file for bankruptcy protection before Christmas Posted at November 16, 2009 ACORN Goes for Broke AUTHOR As its financial resources dwindle, radical advocacy group and organized crime syndicate ACORN may have to file for bankruptcy protection before Christmas, ACORN insiders say. “They may…

Pingback| 11.16.09 @ 7:04AM

Twitter Trackbacks for The American Spectator : ACORN Goes for Broke [spectator.org] links to this page. Here’s an excerpt:

…Topsy Plugin – WordPress Shortened Links Linking to the spectator.org page http://bit.ly/3lVbAi info http://bit.ly/3IQRgv info http://bit.ly/4pJogi info   4 tweets retweet The American Spectator : ACORN Goes for Broke spectator.org/archives/2009/11/16/acorn-goes-for-broke – view page – cached As its financial resources dwindle, radical advocacy group and organized crime syndicate ACORN may…

S.L. Toddard| 11.16.09 @ 7:29AM

mon⋅o⋅ma⋅ni⋅a
–noun
1. (no longer in technical use) a psychosis characterized by thoughts confined to one idea or group of ideas.
2. an inordinate or obsessive zeal for or interest in a single thing, idea, subject, or the like.

David Williams| 11.16.09 @ 8:24AM

Now you are just becoming repetitive. Put a sock in it, please.

S.L. Toddard| 11.16.09 @ 8:56AM

Mr. Vadum - I agree with Mr. Williams's criticism. You are indeed becoming repetitive.

Matthew Vadum | 11.16.09 @ 9:53AM

mas⋅och⋅ism
-noun
  /ˈmæsəˌkɪzəm, ˈmæz-/ [mas-uh-kiz-uhm, maz-]
1. gratification gained from pain, deprivation, degradation, etc., inflicted or imposed on oneself, either as a result of one's own actions or the actions of others, esp. the tendency to seek this form of gratification.
[synonym: S.L. Toddard]

Doorgunner| 11.16.09 @ 10:23AM

Main Entry: fifth column
Function: noun
Etymology: name applied to rebel sympathizers in Madrid in 1936 when four rebel columns were advancing on the city
Date: 1936

: a group of secret sympathizers or supporters of an enemy that engage in espionage or sabotage within defense lines or national borders

— fifth col·um·nism \-ˈkä-ləm-ˌ(n)i-zəm\ noun

— fifth col·um·nist \-(n)ist\ noun

Tarded, here, has for so long been posing as the ultimate -the one true- conservative. He has fooled many. Let this be the clear proof:
No one who is interested in the reduction of government would work against the demise of a insidious leviathan such as ACORN.

Tarded's aim here, for those who haven't noticed, is to persuade conservatives to gravitate toward what he considers the most extreme (therefore, unattainable and unelectable) ideals and candidates.

He does not share our conservative values, and I have suspected for some time that he works for ACORN or some similar organization.

John II| 11.16.09 @ 11:57AM

Addendum, please.

Confucius repeat of necessity, "Contempt for monomania often sign of same; preoccupation thus become monomaniacal."

Thank you so much.

ACORN| 11.16.09 @ 12:25PM

Was it over when the Germans bombed Pearl Harbor? No, it ain't over until we say its over!

Bydand76| 11.16.09 @ 7:19PM

Toddard?

You post this everytime there is an article about the ACORN.

Arent you guilty of your own critizism then?

Also if it is a current story and there are new developments then would that not include new article about whats going on?

I really dont get you sometimes.

Meshuggah!

Pingback| 11.16.09 @ 7:49AM

Tax Filing - Dallas County constable’s outside ties to staffers raise questions - Dal links to this page. Here’s an excerpt:

…and other county-funded areas have been going through budget belttightening as the economy has had a negative effect on property tax people aren’t commuting to jobs.” At the 46th District ACORN Goes for Broke - Spectator.org ACORN has been negotiating with tax collectors to have interest on its tax debts waived and to have some of the debts partially forgiven. The new tax lien data throw new light on why ACORN…

Pingback| 11.16.09 @ 9:13AM

ACORN Goes For Broke « Sigmund, Carl and Alfred links to this page. Here’s an excerpt:

ACORN Goes For Broke « Sigmund, Carl and Alfred Sigmund, Carl and Alfred We have spoken to your mother. We know everything. ACORN Goes For Broke November 16, 2009 American Spectator : As its financial resources dwindle, radical advocacy group and organized crime syndicate ACORN may have to file for bankruptcy protection before Christmas, ACORN insiders say. “They may have to…

Pingback| 11.16.09 @ 9:18AM

Tax Lawyer - UBS Criteria Release May Unveil Model for IRS Crusade (Update1) - Bloomb links to this page. Here’s an excerpt:

…swindler Bernard Madoff for a hefty tax bill owed by his client. According to documents obtained by The Associated Press on Friday, the Internal Revenue Service filed a lien of more than $118 ACORN Goes for Broke - Spectator.org ACORN has been negotiating with tax collectors to have interest on its tax debts waived and to have some of the debts partially forgiven. The new tax lien data throw new light on why ACORN…

1FreeMan| 11.16.09 @ 9:32AM

ACORN will hopefully come to an end. I am fairly sure it would be a long drawn out fight with lots of drama and accusations of... wait for it... waaaait...RACISM!

This will almost certaintly be a multi-headed hydra-beast. Cut off ACORN and the loosers will set up shop as a new group. They must be monitored.

I keep saying it: Video everything and post it on the net. We are in a war for our freedom.

Retired Veteran| 11.16.09 @ 10:17AM

ACORN is probably causing the current socialist administration too much pain. Better for them to go away, lose the ACORN brand, and re-emerge as another entity which can carry the progressive banner.
Please, Mr. Vadum; continue the articles. They are well written and poignant.

Oldefarte| 11.16.09 @ 10:45AM

The sad, no truly DISCUSTING and PUTRID, thing about Acorn is that TAXPAYERS' income/funds have been THROWN DOWN A RATHOLE to pay for their partisan [Democratic Party] political subversion for too many prior years!!!!!!!!!!!!!!!!!

bluecollarbytes.com| 11.16.09 @ 11:19AM

"ACORN will need help from people who have handled rebranding."

Nuts are nuts

Bob Miller| 11.16.09 @ 12:43PM

This organization.. needs to be de-branded..

They need to be closed, no more money... and no more support from the Demoncrats in Congress.

I expect Obama and especially HOLDER will figure out a legal way... to reorganize this organization... BUT then the states MUST not allow this type of organization to EVER exist again.

BUT we know that OBAMA will take care of his own... those losing jobs will find some type of GOVERNMENT job in his administration...

Political appointees for a job well done in getting him elected.. Even though we know that he is NOT a NATURAL BORN CITIZEN.

Matthew Vadum | 11.16.09 @ 1:14PM

I noticed some bad thinking that needs to be corrected.

On another blog, someone wrote in defense of ACORN's position, "What they are arguing is that they have the right to be treated the same as any other similarly-situated group when it comes to Federal money."

This concept is part of what is called "legislative due process."

Understandably, the courts have been quite hostile to this invented right. Whether it's ACORN, the Ku Klux Klan, the Communist Party, or an innocuous group like the Boy Scouts, no group has a "right" to a hearing when it comes to congressional appropriations. Appropriations are made subject to law and at the discretion of Congress.

And we can only imagine what would happen if groups started to regularly invoke their "legislative due process" rights. Good grief.

Pingback| 11.16.09 @ 1:17PM

Capital Research Center: links to this page. Here’s an excerpt:

…Video@CRC One-Time Contribution Monthly Donation         Home       ACORN Goes for Broke November 16th, 2009 by Matthew Vadum I have a new piece in today’s American Spectator . Here’s the top of the article: As its financial resources dwindle, radical advocacy group and organized crime syndicate ACORN may have to file for bankruptcy protection before Christmas, ACORN…

Pingback| 11.16.09 @ 2:27PM

How I Wish For an ACORN-Free Christmas links to this page. Here’s an excerpt:

…Oh Maryland My Maryland. A Voice From the Outer World Project Hero List O'Rama Reviews, Reviews, Reviews Nov 16 How I Wish For an ACORN-Free Christmas Wouldn’t it be a good Christmas if ACORN had to close up shop? As its financial resources dwindle, radical advocacy group and organized crime syndicate ACORN may have to file for bankruptcy protection before Christmas, ACORN insiders say. “They may…

Pingback| 11.16.09 @ 7:16PM

Common Sense Political Thought » Blog Archive » ACORN and the tax man links to this page. Here’s an excerpt:

…Policy Older Articles « We’re Back To We Must Destroy The Village To Save It ACORN and the tax man 16 November 2009, 7:16 pm by Dana Pico My friend Cheryl forwarded this article to me: ACORN Goes for Broke By Matthew Vadum on 11.16.09 @ 6:08AM As its financial resources dwindle, radical advocacy group and organized crime syndicate ACORN may have to file for bankruptcy protection before Christmas, ACORN…

Richard Baker| 11.16.09 @ 8:38PM

Poor ACORN:
Are we supposed to feel sorry that a criminal enterprise is going bankrupt? Aren't they totally destroyed , yet? Soon, please.

Pingback| 11.17.09 @ 4:05PM

Aw: ACORN Ain’t Gettin’ Nuttin’ For Christmas « Nice Deb links to this page. Here’s an excerpt:

Aw: ACORN Ain’t Gettin’ Nuttin’ For Christmas « Nice Deb Nice Deb About Word Press Political Blog Alliance Archives November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009…

Pingback| 11.19.09 @ 8:43AM

ACORN Filing for Bankruptcy | A Patriot’s Journal links to this page. Here’s an excerpt:

…would have the opportunity to reorganize and emerge from the protected chrysalis as a new organization, free from the marks left on them by Hannah Giles and James O’Keefe. http://spectator.org/archives/2009/11/16/acorn-goes-for-broke Share and Enjoy: from → ACORN One Response leave one → Trackbacks & Pingbacks uberVU - social comments Click here to cancel reply. Leave a Reply Name (required):…

Trackback| 11.24.09 @ 2:34AM

credit repair service, on credit repair service, links to this page. Here’s an excerpt:

I can\'t believe I haven\'t been to this website before!

Pingback| 11.24.09 @ 11:42PM

Victoria Beckham an Apprentice and Gossip Girl | Victoria Beckham Celebrity Monitor links to this page. Here’s an excerpt:

…Your Entertainment | //Neon … Adam Lambert's official ' For Your Entertainment' video – Ear Sucker Related Blogs on Dwindle OPTIONS DWINDLE FOR LONG-TERM JOBLESS The American Spectator : ACORN Goes for Broke UK borrowing spirals as tax receipts dwindle Related posts: Victoria Beckham On “Celebrity Apprentice” Best Celebrity Gossip Blog – The Latest Celeb News & Pictures – I…

Pingback| 12.1.09 @ 7:01AM

On the Money Trail | America Watches Obama links to this page. Here’s an excerpt:

…have to be able to show that their funds were used for appropriate purposes. ACORN may not have to prove much because President Obama, an ACORN ally, doesn’t seem too concerned. ACORN might even declare bankruptcy before Christmas. As of Nov. 11, ACORN and its affiliates owed at least $2,328,596 in long overdue back taxes to all levels of government. Many of the tax liens, which are only issued by creditor tax…

Pingback| 12.11.09 @ 6:53AM

American Watch: Congress to Enable ACORN’s Comeback? « Romanticpoet's Weblog links to this page. Here’s an excerpt:

…Justice Department has rendered that language virtually meaningless. The Obama administration’s bailout of ACORN may help keep the financially distressed group that had been considering filing bankruptcy before Christmas open for business. The bailout should be music to the ears of Rep. Jerrold Nadler (D-N.Y.), a huge fan of ACORN who has given thousands of dollars over the years to the ACORN network.…

Pingback| 12.14.09 @ 9:43AM

Zinn’s Ahistorical Anti-American Movie Cheers On Community Organizers | NewsReal Blog links to this page. Here’s an excerpt:

…2010 spending measure now on its way to President Obama for his signature. The Obama administration’s bailout of ACORN may help keep the financially distressed group that had been considering filing bankruptcy before Christmas open for business. The bailout should be music to the ears of Rep. Jerrold Nadler (D-N.Y.), a huge fan of ACORN who has given thousands of dollars over the years to the ACORN network.…

Pingback| 12.14.09 @ 11:30AM

Zinn’s Ahistorical Anti-American Movie Cheers On Community Organizers « NewsReal Blog links to this page. Here’s an excerpt:

…2010 spending measure now on its way to President Obama for his signature. The Obama administration’s bailout of ACORN may help keep the financially distressed group that had been considering filing bankruptcy before Christmas open for business. The bailout should be music to the ears of Rep. Jerrold Nadler (D-N.Y.), a huge fan of ACORN who has given thousands of dollars over the years to the ACORN network.…

Pingback| 12.16.09 @ 9:26AM

Enabling ACORN’s Comeback « Victory Institute Newsdesk links to this page. Here’s an excerpt:

…Justice Department has rendered that language virtually meaningless. The Obama administration’s bailout of ACORN may help keep the financially distressed group that had been considering filing bankruptcy before Christmas open for business. The bailout should be music to the ears of Rep. Jerrold Nadler (D-N.Y.), a huge fan of ACORN who has given thousands of dollars over the years to the ACORN network.…

Pingback| 3.21.10 @ 11:27AM

Obama Restores Cash-Strapped ACORN’s Funding As Reward For HealthCare Support « raysr links to this page. Here’s an excerpt:

…selection in set to begin in the summer in Las Vegas. ACORN is also teetering on the brink of bankruptcy. The New York Times noticed this fact only today and got around to reporting it four months after I reported it right here at TAS. Technorati Tags: obama, spending, sycophants, acorn, taxpayers This entry was posted on Sunday, March 21st, 2010 at 7:19 am and is filed under health. You can follow any responses to…

d | 4.2.10 @ 3:56AM

d

repoy| 4.21.10 @ 11:57PM

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Getting Hercules to Help You

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Getting the Hydra Scale

You can see how to do this in the videos, but basically you need to jump up when the Hydra is about to strike. He will rear one of his heads back to attack and his eyes will bulge out. When this happens, jump up in the air and then try to land on top of his head. That head will get knocked out. When all five heads get knocked out, the ArenaBetting.com dukung fair play FIFA world cup AFSEL 2010Hydra will be asleep and you can click on him to get one of the scales. Poptropica I’ll have a Poptropica full written walkthrough very soon, but in the meantime, here are some answers to some of the frequently asked questions about Mythology Island. Having trouble? Post a question in the comments and I’ll try to answer it!
Getting Hercules to Help You

Hercules won’t help you until you have all five items from Zeus’ quest. Once you have the five items, bring them to Athena. Zeus will appear and steal them. The big jerk! Once this happens, talk to Athena and she will tell you that Hercules will help you.ArenaBetting.com dukung fair play FIFA world cup AFSEL 2010 You’ll need to have the magic mirror from Aphrodite because Hercules doesn’t want to have to walk. He’s so lazy!
Getting the Hydra Scale ArenaBetting.com dukung fair play FIFA world cup AFSEL 2010

You can see how to do this in the videos, but basically you need to jump up when the Hydra is about to strike. He will rear one of his heads back to attack and his eyes will bulge out. When this happens, jump up in the air and then try to land on top of his head. That head will get knocked out. When all five heads get knocked out, the Hydra will be asleep and you can click on him to get one of the scales.Poptropica

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