10/2/08

Blogger breaks code of silence on ACORN

More ACORN stories: hereVoter-fraud stories: here

Obama omerta silences media coverage of Barack's ties to union backed voter-fraud group ACORN

Lou Dobbs, a liberal? Hardly. But CNN's resident immigrant-basher is agreeing with left-wingers on one point regarding the $700 billion bailout plan for the U.S. economy.

"Nothing in that bill deals with the foreclosure crisis, if you can imagine that," Dobbs blustered to CNN's Kiran Chetry this morning. "That's arrogance. That's stupidity. That is your leadership in Washington, D.C."

Another "favor" that Lou Dobbs has done for liberals, a.k.a. progressives, is to bring publicity to a group known as ACORN, Association of Community Organizations for Reform Now.

ACORN is not a new nut on the block. Since 1970, ACORN has helped to build grassroots community organizations that focus on economic and social justice. The approach often is direct action, with marching and picketing and demonstrations that Americans will recognize from the old civil rights movement. Issues range from a higher minimum wage to improved education, and one of the main ones is described as "predatory lending."

Predatory lending? Americans following the news during the economic bailout talks have heard much about Wall Street and the parallel Main Street, but predatory lending rarely is mentioned, not even by Lou Dobbs. So what exactly is predatory lending? Wikipedia suggests as follows: "The practice of a lender deceptively convincing borrowers to agree to unfair and abusive loan terms, or systematically violating those terms in ways that make it difficult for the borrower to defend against."

End result: Foreclosures, and then financial crisis.

The sequence, perhaps even Lou Dobbs could agree, goes as follows:

(1) From early in the 20th century all the way into the 1980s, people with disadvantages (ethnic minorities, general low income) often faced closed doors for home loans. This was called redlining.

(2) Groups such as ACORN fought against redlining. Lenders gradually became more open and fair, but then some unscrupulous lenders discovered that profits could be made by being unfair.

(associatedcontent.com)

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