SEPTEMBER 1993 : (REPORT : ACORN-CHICAGO DIRECTOR MADELINE TALBOTT ) Talbott continued her effort to, as she put it, drag banks “kicking and screaming” into high-risk loans. A September 1993 story in The Chicago Sun-Times presents her as the leader of an initiative in which five area financial institutions (including two of her former targets, now plainly cowed - Bell Federal Savings and Avondale Federal Savings) were “participating in a $55 million national pilot program with affordable-housing group ACORN to make mortgages for low- and moderate-income people with troubled credit histories.”
What made this program different from others, the paper added, was the participation of Fannie Mae - which had agreed to buy up the loans. “If this pilot program works,” crowed Talbott, “it will send a message to the lending community that it’s OK to make these kind of loans.”Well, the pilot program “worked,” and Fannie Mae’s message that risky loans to minorities were “OK” was sent. The rest is financial-meltdown history.-——— From:
http://www.nypost.com/seven/09292008/postopinion/opedcolumnists/os_dangerous_pals_131216.htm?page=0
1994 : (ACORN ATTNY BARAK OBAMA-——See 2008 MORTGAGE CRISIS) Obama represented ACORN in the Buycks-Roberson v. Citibank Fed. Sav. Bank, 1994 suit against redlining [claims that banks discriminated against minorities in mortgage lending.]. -——— “Barack Obama and the Strategy of Manufactured Crisis,” By James Simpson, September 28, 2008 http://www.americanthinker.com/printpage/?url=http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html
1999 & 2000 : (DALE RATHKE, BROTHER OF WADE RATHKE, STEALS $948,607.50 FROM ACORN AND ITS AFFILIATES, BUT THE THEFT IS COVERED UP FOR YEARS TO COME WITH THE AID OF GEORGE SOROS’ DEMOCRACY ALLIANCE” , SEIU {See ANDY STERN} , AND THE TIDES FOUNDATION {See SOROS} ) ...it was revealed that his [Wade Rathke’s] brother Dale Rathke stole $948,607.50 from ACORN and its affiliates, in 1999 and 2000. The embezzlement was kept quiet for eight years, until a covert arrangement with the billionaire funders of this “poor people’s” organization, to keep law enforcement away, became known. Among the players in this clique are the Soros-run billionaires’ club, “Democracy Alliance”; the Service Employees International Union (SEIU), whose pro-globalist president Andy Stern does Soros’s bidding in politics; and the Tides Foundation, that conduits Soros and other “charity” money into political causes.————.http://tinyurl.com/4qa3r3
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1999 & 2000 : (ACORN FOUNDER WADE RATHKE’S BROTHER DALE RATHKE EMBEZZLES $948,607.50 FROM ACORN AND ITS AFFILIATES) Wikipedia: “Dale Rathke, the brother of ACORN’s founder Wade Rathke, was found to have embezzled $948,607.50 from the group and affiliated charitable organizations in 1999 and 2000. ACORN executives did not inform the board or law enforcement, but signed an enforceable restitution agreement with the Rathke family to repay the amount of the embezzlement. Wade Rathke stated to the New York Times that ‘the decision to keep the matter secret was not made to protect his brother but because word of the embezzlement would have put a “weapon” into the hands of [...] conservatives who object to [ACORN]’s often strident advocacy on behalf of low- and moderate-income families and workers.’ A whistleblower revealed the fraud in 2008, leading to the departure of both Dale and Wade Rathke.” -———— Obama’s ACORN: A Corrupt Organization of Revolutionary Nuts
The Post Chronicle ^ | October 10, 2008 | Michael J. Gaynor