Democrats Vote To Give ACORN Regulatory Authority Over Financial Institutions

RepublicansFinancialServiceshouse.gov ^ | 10/22/09 | Financial Services Committee

[OpusatFR]

WASHINGTON - During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to play a role in setting regulations for financial institutions.

The Waters amendment adds to the CFPA Oversight Board 5 representatives from the fields of "consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve underserved communities, or representatives of communities that have been significantly impacted by higher-priced mortgages" to join Federal banking regulators in advising the Director on the consistency of proposed regulations, and strategies and policies that the Director should undertake to enforce its rules.

By making representatives of ACORN and other consumer activist organizations eligible to serve on the Oversight Board, the amendment creates a potentially enormous government sanctioned conflict of interest. ACORN-type organizations will have an advisory role on regulating the very financial institutions from which they receive millions of dollars annually in direct corporate contributions and benefit from other financial partnerships and arrangements. These are the same organizations that pressured banks to make subprime mortgage loans and thus bear a major responsibility for the collapse of the housing market.

In light of recent evidence linking ACORN to possible criminal activity, Democrats took an unprecedented step today to give ACORN a potential role alongside bank regulators in overseeing financial institutions. This is contrary to recent actions taken by the Senate and House to block federal funds to ACORN.

A recent inquiry into bank funding of ACORN activities by three House Committees found that institutions that would be regulated by the CFPA have provided millions of dollars to the organization in the form of direct donations, lines of credit, cash, and other assets over the last 15 years.

The amendment passed on a vote to 35-33. Click here to view the vote.

[OpusatFR]

Oh Really! Will this be in the MSM? After all, I can't imagine this is a State Approved Message.

[mia]

OMG!!!!!!!!!!!!!!!!!!!!!

[Frantzie]

ACORN/SEIU using CRA lawsuits that Hussein started with Fannie & Freddie wiped out our financial system. This is an outrage.

[ElayneJ]

Is this true? Please say it’s not true.

[precisionshootist]

Is this a Hoax?

[Jet Jaguar]

ACORN Ping!

FReep mail me if you want on/off the list.

[cripplecreek]

Criminals from bottom to top.

[GnuHere]

Geez, everyday with these fools is like reading The Onion, except it’s not funny.

[Tempest]

This is hell.

[randomhero97]

This should be a prelude to war.

[paulycy]

Where is the GOP leadership? Why are they not shouting “foul?”

Where are the conservative lawyers to challenge this?

I keep asking. I never get satisfactory answers.

Grrrrrrrrr....

[This I Wonder32460]

This article reminded me of something I heard on the radio today. I was running a quick errand and I think it was Michael Graham on the radio. A caller called to say “You think you’ve heard the most stupidest thing and wake up the next day to hear something stupider.” Michael Graham replied “The sea of stupidity has an endless bottom. You think you’ve hit bottom and it’s just a ledge and you roll off and fall further.” I think he’s called it right. Stupid runs deep. Lol or else cry, I’m not sure which to do half the time.

[SamiGirl]

Every day I think the news couldn’t get any worse, but it does. Please tell me this isn’t true.

[STONEWALLS]

...these are just another form of reparations to colored people.

[knarf]

Whore houses and 12 year old Columbian girls for everyone!

Medical reefer sold at the front desk next to the Viagra and condoms.

If this is true, patriots will start shueting.

[Tai_Chung]

Whore houses and 12 year old Columbian girls for everyone!

and you can use your ACORN credit card!

[R0CK3T]

FIGHT the ACORN!

Stop the installation of COMMUNISM in America!

[timetostand]

“This should be a prelude to war.”

The time is coming - 2010

[DAC21]

What's the over / under for when the Tanks roll to surround the White house? And yes I'm Serious. Just need to get Kennedy on board for our own version of Honduras

[EGPWS]

Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to play a role in setting regulations for financial institutions.

A hooker and ACORN verbiage savvy to make it legal in a gray sort of way for ALL CEO's who comply?

[gaijin]

Most people don’t realize that the federal funding resumes as normal in....8 days.

ALL BETTER..!!

[gaijin]

ACORN to Goldman, “We’re really impressed with the fitness of your documentation, but one omission that we noted is that YOU LACK A KIDDIE HO HOUSE.....”

[EGPWS]

ACORN to Goldman, “We’re really impressed with the fitness of your documentation, but one omission that we noted is that YOU LACK A KIDDIE HO HOUSE.....”

Occupied by illegal aliens.

[A CA Guy]

This IMO makes the Democrats an actual criminal organization thinly veiled as a political party.

I can't believe this. If there was ever a reason for even Democrats to not vote Democrat for 40 years, this should be one among many recent reasons the Democrat political machine has given for people to abandon them.

[Gritty]

...Civil War...

It is coming if these Communists don't back off.

[bruinbirdman]

"Stop the installation of COMMUNISM in America!"

Marxine Waters is tight with The Obammunist.

yitbos

[cripplecreek]

One question that needs to be asked.

WHY THE HELL AREN’T FINANCIAL INSTITUTIONS SCREAMING BLOODY MURDER?

[EGPWS]

Criminals from bottom to top.

All democrats.

Nothing has changed...

[EGPWS]

Marxine Waters is tight with The Obammunist.

Maxine Waters is too ignorant to be anything bigger than a gnat's a**hole as a lawmaker, she is a puppet.

[EGPWS]

Marxine Waters is tight with The Obammunist.

Maxine Waters is too ignorant to be anything bigger than a gnat's a**hole as a lawmaker, she is a puppet.

[EternalVigilance]

We’re most certainly now in bizarro-world.

[GloriaJane]

We have got to have a 94 all over again! Get those democrats out and clean house!

[wiggen]

satire or suicide.

[paulycy]

Maxine Waters

She may be shallow and narrow-minded but at least she's angry, judgmental and overwhelmingly corrupt.

[SIDENET]

It is coming if these Communists don't back off.

Well, they ain't going to.

[Indy Pendance]

Keep pushing us, we are at the breaking point.

[savedbygrace]

...these are just another form of reparations to colored people.

Well, I'm kinda pink, which is a color. And with each passing year, my skin is being covered with more blue veins, so I'm sure that makes ME colored, colored with BLUE. So, I want MY reparations!

[EGPWS]

She may be shallow and narrow-minded but at least she's angry, judgmental and overwhelmingly corrupt.

I have a nasty habit of overlooking the finer points of some.

Shoot, she has sexy over sized jowls too!

Am I forgiven now?

[nutmeg]

Does anyone know if this is actually for real?!

[Eagle50AE]

Here is the link to this tur*’s vote...

http://republicans.financialservices.house.gov/images/stories/102209cfpawaters006.pdf

look at Grayson,, aye

[txroadkill]

Amazing. What will it take to wake people up to who they keep sending to Washington?

The Left continues to destroy the country and the sheep keep sending them back because George Clooney tells them that republicans are racist.

[BCR #226]

ping

[NRA2BFree]

Treason! Hang the bast*rds!! It’s going to take a revolution to stop this out of control government!!

[rdb3]

Unbelievable.

[RetSignman]

[What's the over / under for when the Tanks roll to surround the White house?] The Capitol may as look like this right NOW. The one thing about a silent revolution is no one will recognize it until it's too late. We are under a Communist regime right now and everyone is being distracted by health care. It's how they work.

[chris_bdba]

Yes I know. The defunding them was not permanent and was only for show the funding is restored on Oct 31st.

[RetSignman]

correction: (well) between as and look.

[EBH]

It is already too late

[little jeremiah]

I think this is going to turn redhot. I’m really speechless.

[clintonh8r]

General James Mattoon Scott: WTF are you now that we need you?