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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (49496)	9/30/2008 11:17:27 AM
From: longnshort	1 Recommendation Read Replies (1) \| Respond to of 224744

Community organizers "What exactly does a 'community organizer' do? Barack Obama's rise has left many Americans asking themselves that question. Here's a big part of the answer: Community organizers intimidate banks into making high-risk loans to customers with poor credit," Stanley Kurtz writes in the New York Post. "In the name of fairness to minorities, community organizers occupy private offices, chant inside bank lobbies, and confront executives at their homes — and thereby force financial institutions to direct hundreds of millions of dollars in mortgages to low-credit customers," Mr. Kurtz said. "In other words, community organizers help to undermine the U.S. economy by pushing the banking system into a sinkhole of bad loans. And Obama has spent years training and funding the organizers who do it. "The seeds of today's financial meltdown lie in the Community Reinvestment Act — a law passed in 1977 and made riskier by unwise amendments and regulatory rulings in later decades. "CRA was meant to encourage banks to make loans to high-risk borrowers, often minorities living in unstable neighborhoods. That has provided an opening to radical groups like ACORN (the Association of Community Organizations for Reform Now) to abuse the law by forcing banks to make hundreds of millions of dollars in 'subprime' loans to often uncreditworthy poor and minority customers. … "One key pioneer of ACORN's subprime-loan shakedown racket was Madeline Talbott — an activist with extensive ties to Barack Obama. She was also in on the ground floor of the disastrous turn in Fannie Mae's mortgage policies."