The Rick Perry - ACORN connection explained: A primer for non-Texans

EnterStageRight ^ | Sept. 5, 2011 | Linda Prussen-Razzano

[Clairity]

In 2005, the Texas State Legislature passed HB 1823, which allowed people with a Contract for Deed to refinance their mortgage and convert the Contract for Deed to a Deed of Trust. They were then able to get out from under the terms of the contract, transfer title to their name, and assume full responsibility for their property and their lives. There were a number of steps homeowners had to take to comply with the law, and they were obviously responsible to pay the mortgage, but it gave homeowners greater power over their property.

ACORN, which supported HB 1823, praised the Legislature and Governor Perry for passing it.

So when folks go around bashing Governor Perry for signing these bills just because ACORN supported one of them, it tells me they are all hat, no cattle, and a person to be pitied. They are obviously not a Texan.

[gogogodzilla]

Really? He crafted special legislation to grant in-state tuition to only illegal immigrants.

Care to point out the specific law in question?

[mylife]

GWB nominated Dick Cheney as VP, a guy from a state with 2 electoral votes.

Dont start that GWB was an insider gamer BS with me.

[gogogodzilla]

Sounds like Iraq, and we have people that man positions in that heat. Plus, there’s no reason why there can’t be air conditioned guard shacks.

[tarotsailor]

In contrast, Sarah Palin went through the most intense scrutiny lib hatchetmen could devise for four years, she dealt with it with grace and class, she emerged stronger than ever, and what exactly did they find?

Zippity Doo Dah, Zippity A,
My Oh My, What a Wonderful Day
Plenty of Sunshine, Heading My Way,
Zippity Doo Dah, Zippity A!
Mister Bluebird’s On My Shoulder
It’s the Truth, It’s Natural,
Everything is Satisfactual!
Zippity Doo Dah, Zippity A,
Wonderful Feeling, Wonderful Day!

[mylife]

Obama has almost all of the troops out of Iraq.
He is going to play it to the hilt come Christmas.
The work there was largely done but facts are that Obama is undermining the political will there and he is getting troops in Afghanistan slaughtered at the highest rate ever, while inflaming Egypt and Libya

[mylife]

GWB was right to try to divide the middle east from Turkey to the Persian Gulf with capitalism.

I always had trepidation about Afghanistan.
But we voted that that was the good war.

[Finny]

Thanks for posting the link! I read all the comments (112 as of now, I think). Enlightening and encouraging.

[OneLoyalAmerican]

That’s right, I don’t get it.

Loyalty is fine to a point. I fail to understand blind allegiance to a candidate. While out of the gate liking Governor Perry, this skip over the hard test questions campaign strategy doesn’t work for me.

Perry needs to firmly address his positions on the lax border/illegal immigration issue; a likely strawman covering the black unemployment demographics issue.

The Gardasil scandal does matter, on multiple fronts. As Malkin notes:

“The PerryCare executive fiat was not simply a one-off mistake explained away by lack of “research.” It exposed a fundamental lapse in both political and policy judgments, an appalling lack of ethics and a disturbing willingness to smear principled defenders of limited government who object to the Nanny State using their children as guinea pigs.”

(Last, let’s not hijack the thread on this subject: What Robert Bork said fifteen years ago really matters today. One of the 0bamacare challenges is 9th Amendment centered. The 9th IS about to matter. And the Marxist Machine is very frightened.)

[Liz]

The Rick Perry - ACORN connection explained: A primer especially for native Texans

ACORN and latinos praised Gov Perry for passing HB 1823, which allowed low/no income borrowers to refinance, and get traditional mortgages. They were now able to get out from under those nuisance subprime mortgages, leaving taxpayers holding the bag, thanks to Gov Perry.

========================================

October 13, 2008
SPREADING THE VIRUS; HOW ACORN & ITS ALLIES BUILT THE MORTGAGE DISASTER
By STANLEY KURTZ, NY POST

--SNIP--ACORN'S crusade to push high-risk "subprime" loans on unwilling banks, is at the root of today's economic meltdown. When the role of ACORN and congressional Democrats in the mortgage crisis is pointed out, Democrats reply that banks subject to the Community Redevelopment Act represent only about a quarter of the loans that led to our current troubles. In fact, the problem goes way beyond the CRA.

As ACORN ran its campaigns against local banks, it quickly hit a roadblock. Banks would tell ACORN they could afford to reduce their credit standards by only a little - since Fannie Mae and Freddie Mac, the federal mortgage giants, refused to buy up those risky loans for sale on the "secondary market."

That is, the CRA wasn't enough. Unless Fannie and Freddie were willing to relax their credit standards as well, local banks would never make home loans to customers with bad credit histories or with too little money for a down payment. So ACORN's friends in Congress moved to force Fannie Mae and Freddie Mac to dispense with normal credit standards. Throughout the early '90s, they imposed ever-increasing subprime-lending quotas on Fannie and Freddie. --SNIP--

Obama has been a key ally of ACORN going back to his days as a Chicago community organizer. Later, as a young lawyer, he offered leadership training to the activists who were forcing Chicago banks into high-risk subprime loans. And when he made it on to the boards of Chicago's Woods Fund and the Chicago Annenberg Challenge, he channeled money ACORN's way. Obama was perfectly aware of ACORN's intimidation tactics - indeed, he oversaw a Woods Fund report that boasted of managing to fund the radical group despite its shocking behavior. And as a lawmaker, in Illinois and in Washington, he has continued to back ACORN's leglislative agenda. --SNIP--

=============================================

October 2008
NY TIMES

EXCERPT Between 2005 and 2008, Fannie purchased or guaranteed at least $270 billion in loans to risky borrowers — more than three times as much as in all its earlier years combined, according to company filings and industry data.

Last month, the White House was forced to orchestrate a $200 billion rescue of Fannie and its corporate cousin, Freddie Mac. On Sept. 26, the companies disclosed that federal prosecutors and the Securities and Exchange Commission were investigating potential accounting and governance problems.

Just two decades earlier, Fannie had been on the brink of bankruptcy. But it was transformed into a financial juggernaut by aiming at new markets.

Fannie never actually made loans. It was essentially a mortgage insurance company, buying mortgages, keeping some but reselling most to investors and, for a fee, promising to pay off a loan if the borrower defaulted.

The only real danger was that the company might guarantee questionable mortgages and lose out when large numbers of borrowers walked away from their obligations. ..... the company announced in 2000 that it would buy $2 trillion in loans from low-income, minority and risky borrowers by 2010.

NOTE Those borrowers were concentrated in Afro-American and Latino communities---and are the toxic mortgages that brought the global economy to a halt.

SOURCE http://www.nytimes.com/2008/10/05/business/05fannie.html?em

=======================================

10/6/2008
LA Times ----In D.C., few evade blame for financial crisis
FR Posted on 10/06/2008 by markomalley WASHINGTON -- When Congress voted to bail out Wall Street banks and investment houses, members were also indirectly voting to repair damage lawmakers themselves had caused during a decades-long era of deregulation. As the blame game moves into high gear in Washington, there seem to be few winners.

Already under scrutiny are lawmakers from both political parties, Presidents George W. Bush, Bill Clinton and their predecessors, and record amounts of money funneled to Congress from Wall Street and the two government-backed mortgage giants, Fannie Mae and Freddie Mac. In hindsight, members of Congress and administration officials such as Treasury Secretary Henry M. Paulson agree that a new regulatory framework must be created. But investigating what went wrong and how to construct a new financial infrastructure confronts politicians and policymakers with an awkward situation. Many of those who will presumably shape new safeguards were advocates of the sweeping deregulation that contributed so much to the problems they now propose to fix. latimes.com ...

=====================================

DO THIS NOW A forensic audit should be done on all Perry's personal assets and holdings. Many political insiders made millions and millions off subprime mortgages. (NOTE F/M CEO Franklin Raines was fired for cooking the books--but walked away with $90 million dollars in perks, bonuses, lifetime benefits and pensions.) We need to know the extent of inside dealing WRT subprime mortgages given to ACORN and latinos.

[cripplecreek]

So does anyone know why St Rick managed to skip debates in the last Governor’s race?

[Liz]

Better ask Texans-—they know e-v-e-r-y-t-h-i-n-g.

[cripplecreek]

I just happened to hear it mentioned on FOX this morning that no one has seen Perry in a debate for several years.

The Rickstians aren’t telling anything that isn’t pre approved by the Perry campaign so I guess it shouldn’t be so surprising that they’ve failed to mention it.

[LibLieSlayer]

The have to... they have to deal with his actual governance. Reality is a bitch!

LLS

[trebb]

ahhhhh, sure...uh huh...riggggggt

There are quite a few of you Perry-dernaged bots out there.

Why don't you stop sniping from the darkness and tell us who you support? Unless you have someone top support, your sniping makes no sense.

Stop being pusillanimous cowards and TELL US WHO YOU SUPPORT

[dirtboy]

They just want to knock Perry out in the primary, so Obama will have an easier time beating the GOP nominee.

Yeah, right.

Perry does raise some legitimate concerns with many conservatives. I am not automatically disinclined against him, but many of the things he has done, such as being against a border fence, give me pause.

Long-standing FReepers who point out these issues are not for Obama, they are instead for a different candidate or potential candidate who they feel is better suited for the GOP nomination.

And you're a jerk for insinuating anything else. And the Perry supporters will rue the day they go over the top with those supporters if Perry does win the nomination. At some point, the GOP is going to have to come back together and bad blood spread around now will be hard to clean up come next summer.

And that goes for those posters such as Tempest who show utterly no restraint in their attacks on Perry. We should stick to the issues and not dip into the manure tanks.

[Tennessee Nana]

Romney redux

[deport]

At some point, the GOP is going to have to come back together and bad blood spread around now will be hard to clean up come next summer.

---

A very important point that needs to be stressed amid all the back and forth. Thanks for pointing that out. You’ve been around from the early days and have seen the ill will created amongst the various factions to include the Keyes, Buchanan, Bush, etc days. Take care.

[Liz]

The Rickstians aren’t posting anything not pre-approved by the Perry campaign...that's why they failed to mention that no one has seen Perry in a debate for several years.

No debates for years? But, but Ricky has a string of unbroken election wins.

Ut, oh. Houston, we have a problem.

Watch for telltale signs if and when Senor Ricardo shows up for the Republican debate.......

<><> hesitation in answering (being coached in an earpiece)

<><> a text messager on the podium discreetly hidden under a pile of corn chips

<><> sweating bullets, etc.......ROTFL.

[stephenjohnbanker]

” The Rickstians aren’t posting anything not pre-approved by the Perry campaign...that’s why they failed to mention that no one has seen Perry in a debate for several years.
No debates for years? But, but Ricky has a string of unbroken election wins.

Ut, oh. Houston, we have a problem. “

PERRY has a problem......his history.

[rintense]

They did, really? Wow, sure makes all those illegals fleeing Arizona look silly then, huh?