ACORN,
which played a starring role in creating the subprime mortgage
crisis, plans to add insult to injury by harassing lenders across
the nation with protests tomorrow in an effort to coerce them
into supporting President Obama's Making Home Affordable
foreclosure-avoidance program.
Austin King, director of ACORN Financial Justice, sent out a
press release today advising of the demonstrations that are
planned as part of its "Homewrecker 4" campaign. The four
financial companies targeted are Goldman Sachs, HomEq Servicing,
American Home Mortgage, and OneWest. Read the whole document
here.
ACORN plans to hit Dallas, Pittsburgh, Philadelphia, St. Louis,
New York City, Wilmington (Del.), Columbus (Ohio), Houston,
Little Rock, Boston, Los Angeles, Miami, San Francisco, and
Seattle.
But let's not forget that
ACORN helped to cause the mortgage bubble by strongarming
banks into making loans they shouldn't have. And cheering them on
was ACORN's lawyer, Barack Obama, who contributed to the
increasingly hostile environment for banks when he
represented plaintiffs in the 1995 class action lawsuit
Buycks-Roberson v. Citibank. The suit demanded that
Citibank grant mortgages to an equal percentage of minority and
non-minority mortgage applicants. The bank settled the case three
years later and reportedly agreed to beef up its lending to
unqualified applicants.
ACORN refuses to acknowledge the role that it and the CRA played
in the current crisis on Wall Street, and President Obama
continues to support stronger enforcement of the disastrous
law.
The final paragraph of the press release is unintentionally
hilarious:
Because millions of Americans are losing their homes,
neighborhoods and the economy are in ruins, and while the "Home
Wrecker 4" are taking tax dollars and giving away huge bonuses,
they refuse to do even the bare minimum for American homeowners
by signing up for the Obama foreclosure plan.
Millions of Americans are losing their homes
and neighborhoods and the economy are in ruins because of
groups like ACORN that interfere with markets and force banks to
do stupid things.
And ACORN too has taken in millions of dollars in taxpayer
funding and is utterly unaccountable. The group even covered up a
million dollar embezzlement for eight years.
As I've said before, ACORN lies, lies, and then lies so more. No
lie is too big or outrageous for the criminal group
now charged in Nevada with voter registration fraud.
