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Bachmann: ACORN could regulate the financial sector
The Hill ^ | 12/09/09 | Jordan Fabian

Posted on 12/09/2009 2:53:13 PM PST by American Dream 246

The embattled community group ACORN could help regulate the financial services industry under new financial regulatory reforms, said Rep. Michele Bachmann (R-Minn.) on Wednesday.

Bachmann, a consistent opponent of ACORN (Association of Community Organizations for Reform Now), said that an amendment given in the House Financial Services Committee could allow the group to sit on an advisory panel that monitors the regulations.

“ACORN may have a seat at the table being on the oversight committee regulating the financial services industry of the United States,” Bachmann said at a press conference. “And that would be a cruel joke."

Bachmann’s remarks come as House Financial Services Committee chairman Barney Frank’s (D-Mass.) regulatory reform bill is set to be brought to a floor vote this week.

The amendment offered by Rep. Maxine Waters (D-Calif.) created Consumer Financial Protection Oversight Board that would need to include five members from the “fields of consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve under-served communities or representatives of communities that have been significantly impacted by higher-priced mortgage loans.”

The panel does not have the power to create policy but can recommend policies to the director of the Consumer Financial Protection Agency.

Bachmann argued that this provision could allow ACORN to participate on the board. ACORN was temporarily stripped of its federal funding by Congress in September after two conservative activists posing as a pimp and prostitute filmed ACORN employees offering them financial advice.

The Minnesota congresswoman said she would offer an amendment negating the Waters language. She requested a provision be added to the omnibus appropriations bill that would extend the funding ban to Sept. 30, 2010.

Bachmann previously offered an amendment to the Financial Services Committee version that would bar ACORN-like groups from sitting on a separate advisory panel. Her amendment was approved by the panel. Waters' amendment was also included in the final bill.


TOPICS: Breaking News; Crime/Corruption; Government; Politics/Elections
KEYWORDS: acorn; acorn4obama; bachmann; bawneyfwank; corruption; cultureofcorruption; marxism; marxist; mccainmutiny; mclamesrevenge; michelebachmann; military; obama; romney
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1 posted on 12/09/2009 2:53:14 PM PST by American Dream 246
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To: NorthWoody; Manic_Episode; mikethevike; coder2; AmericanChef; Reaganesque; ER Doc; lesser_satan; ...

WELCOME TO FREE REPUBLIC’S MINNESOTA PING LIST!

128 MEMBERS AND GROWING...!

FREEPMAIL ME IF YOU WANT ON OR OFF THIS LIST!


2 posted on 12/09/2009 3:00:45 PM PST by MplsSteve
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To: American Dream 246

When will this Bizarro world end?


3 posted on 12/09/2009 3:03:24 PM PST by A. Morgan (The essential American soul is hard, isolate, stoic, and a killer. It has never yet melted. Lawrence)
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To: A. Morgan
MAO-bama is a dictator...and we need to deal with him on that basis.
4 posted on 12/09/2009 3:04:26 PM PST by newfreep ("Liberalism is just Communism sold by the drink." - P.J. O'Rourke)
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To: newfreep

Ready when you are


5 posted on 12/09/2009 3:07:00 PM PST by dumpthelibs (dumpthelibs)
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To: dumpthelibs

The troops are gathering....we may just have one chance to “correct” this situation.


6 posted on 12/09/2009 3:08:49 PM PST by newfreep ("Liberalism is just Communism sold by the drink." - P.J. O'Rourke)
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To: American Dream 246

Democrats are the enemy of freedom. Pass it on.


7 posted on 12/09/2009 3:08:49 PM PST by exit82 (Democrats are the enemy of freedom. Sarah Palin is our Esther.)
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To: newfreep
No more funding and close them down. Should be the Repubbie motto. I know a few of them are on this, but needs more infor to the general public.
8 posted on 12/09/2009 3:10:06 PM PST by Achilles Heel
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To: American Dream 246

Can anyone really believe we are witnessing this? I am simply astounded at what is happening. It is anything goes. Lock ‘n load!


9 posted on 12/09/2009 3:11:22 PM PST by Sodbuster09
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To: A. Morgan

The rumor is 2012....


10 posted on 12/09/2009 3:13:21 PM PST by Calamari (Pass enough laws and everyone is guilty of something.)
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To: American Dream 246

It’s a revolution. They’re going to send the physicians into the fields and let the crop pickers run the hospitals. Not like it hasn’t happened before.


11 posted on 12/09/2009 3:16:16 PM PST by Mad_Tom_Rackham (It is the duty of the patriot to protect his country from its government -- Thomas Payne)
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To: American Dream 246
“ACORN may have a seat at the table being on the oversight committee regulating the financial services industry of the United States,”>>>>>>>>>>>>>>>>

That will grease the emigration rails for Baby Boomers. Millions will leave and say, " Banana Republic!"

12 posted on 12/09/2009 3:17:13 PM PST by Candor7 ((The effective weapons Against Fascism are ridicule, derisionut to get ths , and truth (.Member NRA))
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To: American Dream 246
at this rate it won't be long until we are all crawling to the ACORN soup line

the destruction of America is nearing completion

13 posted on 12/09/2009 3:18:35 PM PST by KTM rider ( ..........tell me this really isn't happening ! !)
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To: A. Morgan

Maybe never - dems won - and they’re going to do everything possible to consolidate those wins.


14 posted on 12/09/2009 3:20:10 PM PST by GOPJ (American journalists: Baghdad-Bob-Lite. American GW scientists: Elmer-Gantry-Lite)
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To: American Dream 246

Knew something like this would happen. We were celebrating Aporns “demise” when the videos came out. That has been successfuly buried by the libs and the media. Aporn will become more powerful than it ever was.


15 posted on 12/09/2009 3:20:47 PM PST by chessplayer
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To: Mad_Tom_Rackham

2012 needs to be the year we take back everything with a good clear lead .

We need to overturn all of this crap and damage they have done thus far but also we need to go after groups like ACORN , SEIU with no dilly dallying.

SEIU has a large population of illegals, we need to stop the funding of ACORN once and for all but we also need to look at Soros and his groups and how they are funded.

Infact send him back to Russia where he can enjoy the jails there.
This is what Bush should have done.

Groups like the racist black panthers need to be prosecuted and then we go after this administration or at least many of those in it who are corrupt to the core.


16 posted on 12/09/2009 3:21:32 PM PST by manc (Marriage is between a man and a woman, end of. -end racism end affirmative action)
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To: KTM rider

“the destruction of America is nearing completion”

All that remains is for the hammer & sickle to be raised over the White House.


17 posted on 12/09/2009 3:24:53 PM PST by chessplayer
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To: American Dream 246

There is some really pissed off people, and I’m one of them..


18 posted on 12/09/2009 3:25:33 PM PST by RVN Airplane Driver ("To be born into freedom is an accident; to die in freedom is an obligation..)
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To: American Dream 246

BTTT

http://www.michelebachmann.com/contribute.php


19 posted on 12/09/2009 3:27:33 PM PST by WOBBLY BOB (ACORN:American Corruption for Obama Right Now)
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To: Mad_Tom_Rackham

This physician isn’t going into any fields. Maybe to a Lufthansa counter at O’hare for a one way ticket to Berlin.

They’re pushing very very hard and they’re going to regret it.


20 posted on 12/09/2009 3:41:10 PM PST by Gapplega
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