Posted by Brad @ 9:04 pm on October 16th 2008

Quote of the Day

And another possible contender for “dumbest political controversy of the month”. El Cid:

To think that the Soviets spent 70 years and trillions of dollar equivalents trying to overthrow the U.S., and all they had to do was hire some black people to go out and register voters, some of whom would seditiously give false identity information on their applications.

Stupid Soviets! Your power is no power! ACORN has real power! YOU FAIL!

11 Comments »

  1. Written in 2000:

    The Clinton administration has turned the Community Reinvestment Act, a once-obscure and lightly enforced banking regulation law, into one of the most powerful mandates shaping American cities—and, as Senate Banking Committee chairman Phil Gramm memorably put it, a vast extortion scheme against the nation’s banks. Under its provisions, U.S. banks have committed nearly $1 trillion for inner-city and low-income mortgages and real estate development projects, most of it funneled through a nationwide network of left-wing community groups[.]

    City Journal

    (For those who don’t read Lew.)

    Comment by daveg — 10/16/2008 @ 10:34 pm

  2. Actually, the soviet union knew this all along. They just didn’t survive to see their prediction come true.

    Soviet premier Nikita Khrushchev famously used an expression generally translated into English as “We will bury you!”

    The full translation of the quote reads: “Whether you like it or not, history is on our side. We will dig you in”


    On August 24, 1963, Khrushchev himself remarked in his speech in Yugoslavia, “I once said, ‘We will bury you,’ and I got into trouble with it. Of course we will not bury you with a shovel. Your own working class will bury you,”

    We Will Bury You

    My impression is that ACORN represents the “non working class” so to speak, but close enough.

    Wall Street was just as responsible, but it took them both to FUBAR.

    Comment by daveg — 10/16/2008 @ 10:46 pm

  3. It took Wall Street, deregulation, non-enforcement of the law, an artificially low interest rate, and a neo-socialist neocon who mandated through the HUD increased homeownership for minorities regardless of risk.

    ACORN could have remained a nut on someone’s lawn and the system, as structured by the so called free marketeers would have FUBARed.

    It’s just real lucky for the republicans it grew into the great leftist conspiracy that republicans can blame for both their electoral and economic problems – just in time for the 2009 wipeout.

    Ahh. Remember when Rove blamed democrats for the push to authorize an invasion of Iraq just before the 2002 elections?
    http://uk.youtube.com/watch?v=9lqLz4ZdX2Y
    Never accept responsibility for nothing. EVER.

    Comment by thimbles — 10/16/2008 @ 11:14 pm

  4. It took Wall Street, deregulation, non-enforcement of the law, an artificially low interest rate, [the minority-lobby push for lax lending standards and special programs directed thereto,] and a neo-socialist neocon who mandated through the HUD increased homeownership for minorities regardless of risk.

    With my little modification I would have to agree with you.

    I consider ACORN, the CRA (and modifications thereto) and fannie/freddie to all be part of that “lobby.” You like to isolate each one and say they only had a small part in it, but that does not provide the complete picture.

    This combination of business and community organizations is similar to the tag team of business and pro immigration groups. Business wants all the profit that comes with cheap labor, but doesn’t want to pay any of the cost associated therewith.

    The “helping groups” seek expand the government money and programs that come with helping the never ending supply of poor and uneducated, as well as the future votes that they supply to the democratic party.

    I know if I had said something bad would happen from these “home ownership” programs everyone said “this guy is a paranoid/racist.”

    But, it looks like the sh*t can and does hit the fan. Policy does have consequences, just like the Iraq war.

    Just take a look at this to what Washington Mutual was doing before they went BK.

    Comment by daveg — 10/16/2008 @ 11:42 pm

  5. Just so you don’t think I over focus on certain issues, I think AIG should be barred from lobbying congress and guys like this strung up with piano wire:

    AIG is currently working to ease some provisions in a new federal law establishing strict oversight of mortgage originators, according to state regulators. The law requires that originators be licensed by the states, and that they supply comprehensive information so state regulators can track their activities.

    The goal of the new rules is to hold originators accountable if they engage in the sorts of improper or fraudulent lending that ultimately contributed to AIG’s downfall. The law was passed by Congress in July as part of a sweeping housing-industry rescue package.

    Some regulators are troubled that despite the injection of federal cash into AIG and other financial institutions, the industry is continuing its longstanding efforts to combat stronger control of its activities. [Ya think?] “I find it disconcerting that there’s still efforts to weaken our regulatory system, and that those efforts would be in any way subsidized by taxpayer dollars,” said John W. Ryan, executive vice president of the Conference of State Bank Supervisors, one of the entities charged with implementing the federal law on mortgage-broker oversight, known as the SAFE Act.

    Link

    Comment by daveg — 10/17/2008 @ 12:12 am

  6. But, it looks like the sh*t can and does hit the fan. Policy does have consequences, just like the Iraq war.

    I agree, policy does have consequences. But when you have a 30 year old policy, a policy who’s effects were heavily eroded in 2003 through new exemptions for banks and thrifts, the consequences are quantifiable. The results of the CRA/GSE minority lending are quantified. They did not reduce lending standards, they reduced lending prejudice.

    By weakening the regulation, the Bush administration pushed minorities into subprime, though they qualified for prime.

    ACORN has fought the subprime predatory industry and has been fighting for relief for victims of adjustable rate mortgages and the soon to be foreclosed because they can’t pay off their loan with a a less predatory loan without paying the prepayment penalty.

    http://www.alternet.org/democracy/102555/memo_to_gop:_minority_homeowners_did_not_cause_wall_st._meltdown/
    http://www.consumeraffairs.com/news04/2008/02/acorn_countrywide.html

    I’m with you on AIG:
    http://uk.youtube.com/watch?v=AN2oycHF41s

    Comment by thimbles — 10/17/2008 @ 2:13 am

  7. PS: if anyone is interested in the voter registration scam:
    http://www.alternet.org/democracy/102933/california_gop_had_same_voter_registration_problems_as_acorn_in_2006/
    http://tpmmuckraker.talkingpointsmemo.com/2008/10/iglesias_im_astounded_by_dojs.php
    http://tpmmuckraker.talkingpointsmemo.com/archives/003801.php

    Comment by thimbles — 10/17/2008 @ 2:22 am

  8. This is going well…

    Anyhow. Concern about voter suppression or fraud’s not new or limited to one side (I seem to recall that in 2000, some people from the Gore support felt that the election had been stolen).

    Comment by Adam — 10/17/2008 @ 10:59 am

  9. No, but it’s striking that the biggest boogeymen the Republicans can trot out this late in the game are Ayers and ACORN, as if those are key figures of oppression in the fabric of American life. Pay no attention to the White House, The Pentagon, the Department of Justice, the Department of Defense. It’s aging hippies and black get out the vote efforts that are going to destroy the fabric of American life. It’s right up there with the “War on Christmas” for idiotic paper tigering.

    It’s ridiculous. And you’re right, it’s not new; massive “voter fraud” networks is the white whale of Republican electioneering. I would say, to use your 2000 example, that about three times more voters were disenfranchised in Florida alone than patently fraudulent ballots were cast in the nation as a whole. It’s using the spectre of one kind of voting malfeasance to enable a much greater one. To elevate it to “destroying the fabric of democracy” is patently, offensively ridiculous.

    The great electioneering debate is that the GOP would like less people to vote, the Democrats would like more. The Republicans choose to bypass authority figures entirely and direct their ire at irrelevant interest groups and sad sack rabble rousers. At least their Islamofascist foaming at the mouth targets a verifiably dangerous group.

    Comment by Brad — 10/17/2008 @ 3:01 pm

  10. WTF is an Islamofascist? I was pretty sure that was made up too.

    PPS> These guys who rail on democrats and Acorn’s misguided approach to low income housing, and site a youtube video to back themselves up, should really read the transcript of this hearing.
    http://financialservices.house.gov/archive/hearings.asp@formmode=detail&hearing=317.html
    The gist? The republicans want to protect poor people’s right to have credit, which is why states shouldn’t regulate them. Down the line, Democrats demanding consumer protection, Republicans bleeding hearts.
    Wish I had a youtube of that.

    Comment by thimbles — 10/17/2008 @ 3:40 pm

  11. They were big on ACORN last election too, as I remember, Brad. Voter suppression/fraud is a great base issue. Ayers is the standard association issue, which hardly every does brutal damage but is probably worth it.

    It seems to me to be unsurprising that neither side doesn’t have great attacks left that aren’t event-driven; by this stage, you’d expect the good stuff to have been used already. Of course, financial meltdown is a fantastic event-driven attack for Obama…

    Comment by Adam — 10/17/2008 @ 6:46 pm

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