09-26-2008, 03:56 PM
guitarist wrote:
Who blew it up? Democrats tried to attach their condition that a percentage of the 700 Billon bailout money should go to ACORN? wtf? Why did Democrats consistently shoot down tighter Fannie Mae rules? Follow the money...ACORN, Fannie Mae, greedy banks. Since the middle 1990s, Democrats have been using Fannie Mae and friendly outside groups to build a political base. ACORN, the Association of Community Organizations for Reform Now, is the "sounds-good-at-first" group, operating all over the country, whose subsidiaries are scandal-prone and repeatedly get hauled into court for bogus voter registrations...
This thing is being politicized on both sides.
...Obama, received Fannie Mae money and likely benefited from ACORN voter registrations. Obama represented ACORN to sue Fannie Mae to reduce the requirements for getting mortgages. Lowering those mortgage requirements set the stage for waves of big bank scams that lined the pockets of the banks, bank officials, Fannie Mae executives, and politicians. Weak supervision allowed them to milk Fannie Mae for money and political advantage. Reckless deregulation didn’t cause this problem; Congressional meddling did.
Since he's reluctant to source his material I'll do it for him. Check out their home page for a pretty good idea of where they're coming from:
http://www.freerepublic.com/home.htm