First, a personal hero of mine, Thomas Sowell, has a wonderful article over at Townhall today about how the economic understanding and thinking of our dear leader (and his many followers) is so totally upside down and inside out. Most people by now have heard of the Community Reinvestment Act (CRA), but many people do not really understand how that intrusion into the housing market was a primary cause of this whole mess. Banks were forced to show "hard data" that they were following the directives of the Department of Housing and Urban Development (HUD).
In other words, quotas were imposed-- and if some people didn't meet the standards, then the standards need to be changed. Both HUD and the Department of Justice began bringing lawsuits against mortgage bakers when a higher percentage of minority applicants than white applicants were turned down for mortgage loans.
That's right - quotas. Who cares if it was bad for banks, erego bad for the economy as a whole because social justice was happening maaan, economy be damned. I don't know about you, but the words "social justice" are the vocabulary equivalent to nails on a chalkboard. I can feel the nausea rise up when those words are spoken in earnest. Social justice is just another term for Social-ism - it's not fair that you are successful and others are not, therefore you must pay. Combine these lawsuits brought by the feds with the lawsuits and "civil disobedience" of groups like ACORN and banks were sitting ducks. (More on ACORN later)
The other, much more insidious problem with the CRA is that in order for banks to grow (which is kind of the point of business - to grow and prosper and thereby create more jobs for people) by merging with other banks, or acquiring smaller banks, they had to get permission from the feds. Now... what criteria do you think the feds used to judge whether or not a bank would receive that authorization? Hmmmm... let's think... what in the world could it be??? OH! I know! The bank's CRA rating. A higher rating meant a better standing meant more merger and acquisition love from the feds. Guess who had a super high rating for many years. Washington Mutual. You know, the little Seattle bank that was hardest hit by housing crash!!! More here, here, and here.
Now, as far as ACORN goes (if you don't know about ACORN just go to Michelle Malkin's website and search for "ACORN" because she's done a ton of research on this group) Michelle Malkin's syndicated column today is about how this extortionist and criminal organization is starting a campaign called "Home Savers." This campaign is about "civil disobedience" because they're just not being heard! So they are encouraging people to stay in their foreclosed homes or to even move back in, using whatever means necessary. They are also well known bullies, targeting little businesses, banks, etc.
Trumpets ACORN: "On Feb. 19, ACORN members will launch a new tactic in fighting foreclosures: civil disobedience. Participants in the ACORN Home Savers campaign nationwide will simply refuse to move out of foreclosed homes, or in some cases, will move back in. ACORN homesteaders intend to squat in their homes until a comprehensive, federal solution for people facing foreclosure is put in place." ACORN's foot soldiers, funded with your tax dollars, will scream, pound their fists, chain themselves to buildings, padlock the doors and engage in illegal behavior until they get what they want. It's a recipe for anarchy.
Don't forget, Obama's Porkulus bill may end up giving ACORN and its subsidiary groups up to $2 Billion or more of YOUR money. Michelle tells us where ACORN is targeting its campaign, so here is an idea: if you live in one of these cities, you need to get educated and connected real fast. We need "foot soldiers" on our side, fighting the corruption and theft of our money and our votes. Find out how you might be able to fight them using their own tactics. Maybe you start a boycott of banks that work with them and protest loudly outside of those banks or businesses; maybe you put together a protest outside of one of the houses that will be lived in illegally; maybe you write lots of letters to your local newspapers and call your news stations EVERY SINGLE DAY with more info about the illegal and extortionist tactics of this group. You MUST do something because not only are they literally stealing your money, but they are creating a whole new army of Obamabots. ACORN gives low-income people money in exchange for these people becoming "activists" who will march in the streets at a moment's notice and who will do whatever ACORN demands because ACORN is paying their bills. And remember, ACORN pays those bills with your money. Get angry ladies and gentlemen because when you get angry you get off of your couch and take action. So get calling, writing, protesting, etc. We all need you.
The list of cities ACORN is targeting:
Tuscon, Ariz.; Oakland, Calif.; Los Angeles, Calif.; Contra Costa County, Calif.; Orlando, Fla.; Baltimore, Md.; New York, N.Y.; Houston, Texas; San Mateo County, Calif.; Denver, Colo.; Bridgeport, Conn.; Wilmington, Del.; Broward County, Fla.; Boston, Mass.; Flint, Mich.; Detroit, Mich.; Minneapolis, Minn.; Raleigh, N.C.; Durham, N.C.; Albany, N.Y.; Cincinnati, Ohio; Cleveland, Ohio; Pittsburgh, Pa.; and Dallas, Texas.
Go get 'em tigers!!!