On Thursday, Glenn Beck aired secretly videotaped footage of two ACORN employees advising a young man and woman (posing undercover as a pimp and a prostitute) on how they could defraud the federal government out of taxpayer dollars for the purpose of financing a prostitution ring staffed by more than a dozen underage illegal aliens. While the story itself shocks the sensibilities of any normal human being, it is no surprise at all to learn that if any organization were to be implicated in such a degenerate scam, it would be a pack of lowlife thugs like ACORN. ACORNâ€™s entire history is essentially an uninterrupted narrative of fraud, deceit, and intimidation aimed entirely at overwhelming and razing such American institutions as our electoral and economic systems.
In 2008, for instance, election officials in several states reported that fullyÂ halfÂ of all the voter-registration forms ACORN had submitted were fraudulent. As of last October, ACORN was under investigation for voter-registration fraud in 13 states.
ACORN was also a key playerÂ in the chain of events that led to the housing and banking crash of 2008. A significant factor contributing to the genesis of that crisis was the 1977 passage of the Community Reinvestment Act (CRA), a federal law that required banks to extend, for purposes of racial â€œequity,â€ credit to undercapitalized, high-risk borrowers in low-income, mostly-minority areas.
Under CRA guidelines, any bank wishing to expand or to merge with another financial institution would be required to first demonstrate that itÂ had complied with all CRA rules.Â Final approval for expansions or mergersÂ could be stalled, or derailed entirely, if â€œcommunity groupsâ€ like ACORN were to accuseÂ a bank — however frivolously or unjustly — of having violated the mandates of the CRA. Â
In the early 1990s ACORN, thus empowered by the CRA,Â insistedÂ that banks demonstrate their commitment to minority lending by drasticallyÂ lowering their standardsÂ on down-payments and underwriting, and by making loans even to borrowersÂ – especially nonwhite minorities — with bad credit histories. If banks expressed reluctance to do so, ACORNÂ intimidated them into complianceÂ by threatening to sue them, to smear them in the media with negative-publicity campaigns, and to block any mergers which the banks might seek in the future. These threats were often accompanied by screaming mobs of ACORN demonstratorsÂ swarming bank lobbies, demanding â€œjustice.â€
But donâ€™t expect to hear about ACORNâ€™s latest act of malfeasance from any of the leftwing media. They want the story to go away for one simple reason: It is a story that threatens to tarnish the image of their golden boy and golden girl, Barack Obama and Hillary Clinton, both of whom have longstanding, intimate ties to ACORN. In 2008, for instance, Obamaâ€™s presidential campaign demonstrated its solidarity with ACORN by quietlyÂ giving one of the organizationâ€™s front groupsÂ more than $800,000Â to fundÂ a voter-registration drive on Obamaâ€™s behalf.
For a comprehensive account of ACORNâ€™s disgraceful, criminal history, click here.