Posted on 10/23/2009 3:39:08 PM PDT by 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.
NONE DARE CALL IT FASCISM....
Our Reps in Congress are TRYING to get the word out, but the media is too adoring of/scared of the Obama White House and it’s community-organized minions to report it.
Someone better fire the proverbial first shot and get this revolt underway.
“WHY THE HELL AREN’T FINANCIAL INSTITUTIONS SCREAMING BLOODY MURDER?”
Because, they are AFRAID...
Afraid of the Obamunist psychos in Government..
Afraid of the ACORN Whackos who will scream RACISM!!! in front of the HQ doors...
Afraid for their own careers if they dare stand up...
Fear is a powerful tool. And we HAVE seen all this before, playing out almost EXACTLY as it is now.
In 1930’s GERMANY....
**Whore houses and 12 year old Columbian girls for everyone!
—and you can use your ACORN credit card!
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And once you cannot pay off your ACORN/COI credit card, you just apply to the correct czar, and the good taxpayers will be compelled to pay it off for you.
Oh, it’s good to be a cheatin’, lyin’, thief in bammy’s amerika.
The time is coming - 2010
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With a prelude a week from Tuesday in NJ and VA.
Most people don’t realize that the federal funding resumes as normal in....8 days.
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This halloween really *is* a time for pitchforks and torches.
Marxine Waters is tight with The Obammunist.
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With the cloture vote on S. 1776 being closely watched, do they really think that we’re not watching them like HAWKS?
These maroons and criminals WILL be held to account. They think they can pull the fast one with some big public vote to defund that expires in 6 weeks. I knew the demonRATs couldn’t abandon their illegal vote gravy train that easily.
WTF!!!!!!!!!
This HAS to be sent to EVERY media outlet in the Country.
I believe that even the left-wing media would have a hard time swallowing this.
because George Clooney tells them that republicans are racist.
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We need to reject Hollyweird. Stand up to those IDIOTS. Like Palin did to Letterman - the hypocrite. (I know Leterman’s in NY, but is part of the star establishment.)
....shakes head....
We are under a Communist regime right now and everyone is being distracted by health care. It’s how they work.
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I don’t think health care is a distraction for the communists.
“medicine is the keystone in the arch of socialism.”
V. Lenin
Touche.
Trying to bring context to our bizarro-world.
http://www.restoretherepublic.org/?p=18
After reading the essay and reviewing our most recent decades of decline I have eliminated chance, bad luck, ‘stupid’ politicians and greed.
Coincidence is out, too.
When they asked Willie Sutton why he robbed banks, he answered, “because that is where the money is”.
If you are wondering why Acorn should be in charge of the banks, they will answer “because that is where the money is”
CRA all over again.
“This should be a prelude to war.”
It should be.
Once you stop fuming about this...fertile field here.
bookmark
woof
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