Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Land Shark who wrote (138704)	9/26/2008 10:28:41 AM
From: TideGlider	Read Replies (1) \| Respond to of 173976

It isn't fraud, but it is certainly corruption. ACORN is not much after the corruption is taken out.

To: Land Shark who wrote (138704)	9/26/2008 10:31:26 AM
From: longnshort	2 Recommendations Read Replies (1) \| Respond to of 173976

ACORN has already been found guilty of voter fraud, they are a corrupt evil group

To: Land Shark who wrote (138704)	9/26/2008 10:33:25 AM
From: longnshort	1 Recommendation Respond to of 173976

Corruption Allegations Fly at House ACORN Hearing September 25th, 2008 · 8 Comments Corruption at every level, including embezzlement, cover-ups, misuse of taxpayer funds and voter fraud. Those were the allegations aired by James Terry about the community organizing group known as ACORN during an oversight hearing conducted by the joint House Administration and House Judiciary Committee. An excerpt of the testimony by Terry, chief public advocate for the Consumers Rights League, appears below: Click image to read report. Click image to read report. “ACORN routinely says it will clean up its act. Yet, given its decade-long history of voter fraud, embezzlement, and misuses of taxpayer funds, ACORN’s pattern of fraud can no longer be dismissed as a series of ‘unfortunate events.’ “The problem of voter registration fraud raises serious questions for this committee, and the Consumers Rights League appreciates that the right questions are being asked. “Here are the most important questions right now: We know about the thousands of potentially fraudulent voter registration cards turned in by ACORN and caught by officials. But given the size of ACORN’s efforts and the fact that the abuses appear to be systemic, we believe it is fair to question how many more fraudulent registrations have not been discovered, Furthermore, as this mega organization with a decades long history of violating the law is turned to get out the vote efforts, we believe it is fair to question how many fraudulent registrations may lead to fraudulent votes or what other activities they are willing to undertake to influence the election. “These are serious questions, especially in light of recent election results which show that a just few votes can change the outcome of an election, the course of our country and the course of history. “While we do not presume to tell this committee how to address this problem, we respectfully submit that our nation’s election system is facing a concerted campaign that raises serious issues that merit the committee’s oversight and attention.”

To: Land Shark who wrote (138704)	9/26/2008 10:36:44 AM
From: longnshort	2 Recommendations Respond to of 173976

Blowing the whistle on ACORN By Michelle Malkin • June 20, 2008 10:01 AM The radical left-wing, government-subsidized group ACORN uses your tax dollars to engage in voter fraud, enrich itself as part of the mortgage counseling racket, and serve as an activist branch of the Democrat Party. There’s more. Ashley Eiler e-mails about a new report: “The Consumers Rights League just released a collection of whistleblower documents from an ACORN staffer that raise some new concerns about how the organization has established policies for its housing counselors to use undocumented / under-the-table income for processing loan applications from low-income individuals. In addition to pushing these and other exotic loans, the documents reveal that ACORN has engaged in some apparently illegal activities by commingling government funds from its tax-exempt offshoot entities to fight political battles against corporate lenders. ” Which one again begs a nagging question I’ve asked before: Why do Republicans continue to abet their political enemies and allow public money to be funneled to these con artists? How your money is being spent (the full report is here - PDF): Despite raking in a troubling 40 percent of its revenue from taxpayers over the last three years, ACORN Housing Corporation’s actions range from controversial to borderline illegal: • AHC has worked to obtain mortgages for illegal aliens • AHC relies on undocumented income, “under the table” money that may not be reported to the Internal Revenue Service • ACORN’s “financial justice” operations attack lenders for “exotic” loans, but AHC has recommended ten-year interest-only loans (which deny equity to the buyer) and reverse mortgages (which can be detrimental to senior citizens) • AHC may have violated federal law by failing to maintain a proper distinction between its tax-exempt housing work and the aggressive political activities of ACORN More: The ACORN Housing Association (AHC), an ACORN affiliate that receives over 40% of its funding from government sources, claims to be a consumer advocate. In a newly-released report from CRL, however, a series of documents obtained from a whistleblower source reveals hypocritical and potentially illegal use of taxpayer dollars by ACORN and its related organizations. These documents – which include staff emails and internal organization policies – suggest that ACORN has failed to maintain a proper distinction between its tax-exempt housing work and its aggressive political activities. “ACORN and its offshoots take in millions of dollars in government grants under the guise of ‘consumer advocacy’ to line their own pockets. Attacking financial institutions for ‘predatory’ loan practices and then turning around to form cozy relationships with the same corporations sounds more like extortion than advocacy for low-income families,” said Jim Terry, CRL’s Chief Public Advocate. “The public deserves answers about how organizations funded by their tax dollars are functioning, particularly at a time when the Congress is considering pumping hundreds of millions of dollars into their budgets.” According to the internal documents obtained by CRL, this potentially illegal practice of commingling funds occurs when AHC, ACORN’s tax-exempt offshoot, spreads government grant funds among various related entities to be used for political gains. Through targeted public relations assaults, ACORN is able to extract resources from financial lenders seeking abatement and to force financial settlements that benefit ACORN but are harmful to consumers. Even as ACORN attacks other lenders for engaging in “predatory” tactics, the organization’s housing affiliate offers consumers the very same types of exotic loans, including 10/40 interest only mortgages (which prevent buyers from building equity during the first 10 years of a loan) and reverse mortgages (which can be detrimental to senior citizens). ACORN’s pay-to-play attack model has become so pervasive that in one internal email, a staffer writes that lenders view the forced deals with ACORN “as a cost of doing business.” The CRL-issued report also raises concerns about ACORN’s role in the industry-wide relaxation of credit and the decline in mortgage lending standards that are at the heart of the current housing downturn. One email obtained from CRL’s whistleblower source reveals AHC’s use of suspect lending practices to help potential homebuyers obtain mortgages. In particular, one internal document outlines an AHC policy that advises its housing counselors to use “under-the-table” income – earnings that are typically not reported to the IRS – to process mortgage applications for low-income and minority homebuyers. “The fact that AHC is counseling low-income consumers to take the very same loans it labels as ‘predatory’ is more than troubling,” said Terry. “It is important for homebuyers seeking AHC’s advice to understand ACORN’s true motives, and for American citizens to know how their money is being spent. This report raises some serious questions that deserve a great deal of scrutiny by consumers and taxpayers alike.”