The link between Obama, ACORN, the Woods Fund, Earmarks and the mortgage crisis

Jennifer Rubin reports today that During Obama’s tenure on the board of the charitable Chicago Woods Fund, he helped channel funds to the notorious socialist activist group, ACORN:

During Obama’s time on the Woods Funds ACORN received grants of $45,000 (2000), $30,000 (2001), $45,000 (2001), $30,000 (2002), and $40,000 (2002) from the Woods Fund. (Obama in the early 1990′s helped train ACORN organizers and later served as counsel in 1995 for ACORN in a “motor voter” registration lawsuit.) And ACORN certainly appreciated whatever assistance Obama afforded the radical organization over the years.

Offers Eric at Classical Values:

No doubt Obama is very proud of his role as a “community activist” for ACORN.

If ACORN were merely another whiny left-wing group that never did anything, it might be something we could all laugh off as cute. But alas, ACORN is neither cute nor laughable; it is a very determined, very powerful outfit which believes in implementing socialism, and works hard to create the right conditions to make socialism inevitable, and ineradicable

Rubin offers even more irregularities Obama’s Woods activities where the organizations he channeled grants in turn donated to his senate and presidential campaigns. Naturally, as Senator Obama, he made sure these same organizaions received earmarks.

The pattern of funneling money to political allies and their allies is evident throughout Obama’s tenure at the Woods Fund. Tens and tens of thousands of dollars were granted to organizations including the Brighton Park Neighborhood Council, Business and Professional People for the Public Interest (BPPPI), the Center for Neighborhood Technology, Centers for New Horizons, the Chicago Jobs Council, the Chicago Education Fund, the Chicago Institute on Urban Poverty, the Chicago Urban League, The Gamaliel Foundation. Dozens of the board members and officials from these organizations in turn would donate money, in many instances up to the legal limit, for Obama’s Senate and Presidential races between 2004 and 2008.

For example the Woods Fund between 1999 and 2002 granted $60,000 to BPPPI. Board member and executives donated at least $16,950 to Obama’s political campaigns. The Woods Fund granted the Center of Neighborhood Technology $150,000 between 1999 and 2002. Obama received over $24,000 in campaign donations from its officials. And in turn Obama made sure to seek earmarks on their behalf once he reached the U.S. Senate.

Classical Values reminds of Sweetness and Light’s link to a February 2000 article in the NY Post by Economics Professor Stan Liebowitz about the link between ACORN and the mortgage crisis.

In the 1980s, groups such as the activists at ACORN began pushing charges of “redlining” – claims that banks discriminated against minorities in mortgage lending. In 1989, sympathetic members of Congress got the Home Mortgage Disclosure Act amended to force banks to collect racial data on mortgage applicants; this allowed various studies to be ginned up that seemed to validate the original accusation.

In fact, minority mortgage applications were rejected more frequently than other applications – but the overwhelming reason wasn’t racial discrimination, but simply that minorities tend to have weaker finances.

Professor Liebowitz offers more details in his article involving Countrywide Mortgage, which is now ‘hurtling toward bankruptcy” and its role in granting mortgages now in default on an amazing scale. The Obama campaign had to distance itself from its one-time VP vetter Jim Johnson whom received questionable loans from Countrywide. Intrestingly, the Obama campaign had been critcal of Hillary Clinton for its relationship with Countrywide. See Jim Geraghty’s 2008 post for more.

In Liebowitz’ February piece he noted how ACORN was touting CRA loans on its website:

Flexible lending programs expanded even though they had higher default rates than loans with traditional standards. On the Web, you can still find CRA loans available via ACORN with “100 percent financing . . . no credit scores . . . undocumented income . . . even if you don’t report it on your tax returns.” Credit counseling is required, of course.

Today on its website, ACORN has a Stop Forclosure link

Is this an attempt at a transfer of wealth as great as that of our dependence on foreign oil?

Posted under Uncategorized

This post was written by bobsikes on September 13, 2008

15 Comments so far

  1. Pagar September 14, 2008 3:44 pm\

    I believe the entire financial mess that is going on in America today can be traced to actions by Acorn and the US Congress. Someone needs to put the entire story together like has been done with the CAC files. Once one saw what was being done with the quality of the the subprime mortgages, coupled with the packaging of the loans so that the rotten apples were spread throughout the barrel, the entire financial disaster could have been predicted and billions made betting on the down fall of the US financial markets.

    In fact, one could have probably made enough to finance a political campaign just betting that one company such as Lehman Bros was going to go broke. Let alone every company on Wall Street. When will we find someone brave enough to put it all together and report it to the American public.

  2. Ray E. Reed September 28, 2008 12:06 pm\

    We need as american to make sure that Obama in not President of these United State. Where is Goldwater!!!

  3. Kent Ng. September 29, 2008 6:15 pm\

    I really don’t know much about Barrack Hussein Obama until the day I read his biography. Then something happend with Reverend Wright who have known Barack HUSSEIN OBAMA for more than 20 years, said ” God Damn America “.
    But we all knew for sure another meaning of that phrase is ” GOD BLESS ISLAMS “. And that’s what he intended to say.
    Being ISLAMS for 20 years, Christian with another 20 years, and around HUSSEIN OBAMA are some ANTI-AMERICANS, EXTREMELY LEFTIST, I can tell you I do not feel safe again !!!
    I doubted HUSSEIN OBAMA possibly is an ISLAM UNDERCOVER AGENT or ISLAM SPY , is trying a legal way to take over the White House. Once he is the U.S President, we all have the chance to see more terrorists attacks in United States. Then HUSSEIN OBAMA and the DEMS. will put all the blames to Bush Admin. and the Rep. Americans will believe it ( psychological warfare ).
    REMEMBER !!! a good speaker never mean a good leader. Whatever HUSSEIN OBAMA said, please take a few moments to think over, over again. Can he get the job done as he always promise??? As promising HEALTHCARE for EVERYONE, and Bill Clinton and the Dems. did the same to Americans in 8 years of Bill Admin. Why??? The big bosses of insurance companies are mostly DEMS. They didn’t want to lose their profits.
    Now is the time of economy crisis, HUSSEIN OBAMA should remember his position as one Senator of The Congress, not a President of U.S. I knew you care so much for yourself and the White House, and you never care for Americans and this Country. HUSSEIN OBAMA behaviors in the last few days confirmed myself of the REAL HUSSEIN OBAMA actualy was and his personality as well.
    One more thing, DEMS. had to be responsible for recession in State of CALIFORNIA.
    Vote YES FOR MCCAIN !!!!!!!!!!

  4. KLT October 2, 2008 9:56 am\

    There’s a typo in this entry. According to the link you provided, Stan Liebowitz’ article was February 2008, not 2000. “Classical Values reminds of Sweetness and Light’s link to a February 2000 article in the NY Post by Economics Professor Stan Liebowitz about the link between ACORN and the mortgage crisis.”

  5. eberle October 30, 2008 7:35 am\

    Obama promised the same as Clinton and people say Clinton years were good, sure they were we had the dot com era then. Whos to say if Obama is president and our military says they see trouble on the way, Obama may say “stand down” and allow his people in the background to attack our land and take over? What do we do then? Obama trained ACORN workers to intimidate banks and financial institutions to give money to people that could not afford it and caused 90% of the financial problems we have today.

  6. kathy November 1, 2008 12:23 am\

    Obama says his Education Policy will based on the Robin Hood
    On June 28, 2006, Senator Barack Obama delivered a controversial speech on religion and politics to the

    Call to Renewal conference sponsored by Sojourners, a respected Christian progressive organization.

    I think that the work that Marian Wright Edelman has done all her life is absolutely how we should prioritize our resources in the wealthiest nation on earth.

    Marian Wright Edelman studied in Russia.

    She works for the Robin Hood Foundation founded by Paul Tudor Jones Board Jeffrey Immelt, …Goldman Sachs…

    Robin Hood Foundation – wikipedia

    The Robin Hood Foundation is a charitable organization which attempts to alleviate problems caused by poverty in New York City, New York. The Robin Hood Foundation was featured in Fortune’s 18 September 2006 issue where the article states that the foundation is “one of the most innovative and influential philanthropic organizations of our time.”[1]

    Founded in 1988, Robin Hood was the brainchild of hedge fund manager Paul Tudor Jones. One of his biggest campaign donors

    In 2006, the board of directors included such names as

    Jeffrey Immelt, Diane Sawyer, Harvey Weinstein, Marie-Josee Kravis, Lloyd Blankfein of Goldman Sachs, Richard S. Fuld, Jr. of Lehman Brothers, Marian Wright Edelman,

  7. kathy November 1, 2008 1:39 am\

    make your millions and billions fleecing others then get charitable

  8. kathy November 1, 2008 3:28 am\

    Louis Farrakhan (born Louis Eugene Walcott, May 11, 1933), is the National Representative of the Nation of Islam and Elijah Muhammad. He is also an advocate for African American interests and a critic of American society. Farrakhan currently resides in Kenwood, a neighborhood on the south side of Chicago, and part time at a Nation of Islam farm in New Buffalo, Michigan. Farrakhan is widely recognized as a speaker with a powerful allure.[1]

    Farrakhan was born in The Bronx, New York and raised as Eugene Walcott within the West Indian community in the Roxbury section of Boston, Massachusetts. His mother, Sarah Mae Manning, had emigrated from Saint Kitts and Nevis in the 1920s; his father, Percival Clarke, was a Jamaican cab driver from New York, but was not involved in his upbringing.

    The Pokagon Band of Potawatomi Indians opened the Four Winds Casino Resort on August 2, 2007.

    Paying homage to the heritage of the Pokagon Band, the Four Winds Casino Resort is situated on a beautiful landscape off of I-94 at Michigan Exit 1 in New Buffalo, Michigan and offers 130,000 square feet of gaming space. It also features a 165-room suite-hotel, six restaurants, entertainment bars and retail shops.

    “It’s an absolutely spectacular property. It has the look of a northwoods lodge with all the ameneties of a modern casino,” said Matt Harkness, General Manager, Four Winds Casino Resort in remarks at the Casino’s gand opening. “Our staff will offer a level of guest service that has not that has not been seen before in the region.”

    Upon entering Four Winds from its main entrance, guests enter an expansive rotunda which includes two stunning fireplaces. These fireplaces pay tribute to the Potawatomi Indians, who are known as the “Keepers of the Fire.” Over the course of the next year, renowned Native American artist Mike Larson will paint four murals in the rotunda that symbolize significant moments of Pokagon Band history. Materials such as copper, cedarwood and stone can be found throughout the property, which are utilized in many tribal ceremonies.

    In addition to its gaming attractions, the Four Winds Casino Resort also offers six restaurants including Swimm, a gourmet seafood restaurant and The Copper Rock Steakhouse, a white table cloth gourmet dining experience. Other restaurants include The Willowbrook Café, serving comfort food in a relaxed and casual twenty four hour environment, Timbers Fast Food and Deli, conveniently situated to offer a view of the casino floor and The Buffet, with seating for up to 500 people. The property is also home to Silver Creek Bistro, a cafe serving a full line of Starbucks® products as well as an eclectic variety of fresh pastries, artisan sandwiches and specialty salads.

    The Casino offers a full complement of slot machines, including progressive slots linked to other Native American casinos, ensuring the highest jackpots in the region. Also featured are approximately 100 table games including Blackjack, Craps, No Way Craps, Three Card Poker, Pai Gow Poker, Crazy Four, Let It Ride, Mini and Midi Baccarat, Rapid Roulette and Roulette. Nestled in the woods, the Four Winds casino, promises a clear departure from the bright, flashy Vegas-inspired decor local gamblers might expect except maybe in size. According to Lyle Berman, CEO, Lakes Entertainment, “If the Four Winds Casino Resort were located in Las Vegas, it would be the second largest casino in terms of gaming positions.”

    map with Casino location marked

    Constructed at an estimated cost of $160 million, the 52 acre development is expected to draw more than four million visitors a year to the New Buffalo area.

    Four Winds Casino Resort features:

    * More than 124,000-square feet of gaming.

    * 3,000 slot machines, including progressive slots linked to other Native American casinos. As the only Native American casino in the area, Four Winds has the highest jackpots in the region.

    * 100 table games including Blackjack, Craps, No Way Craps, Three Card Poker, Pai Gow Poker, Crazy Four, Let It Ride, Mini and Midi Baccarat, Rapid Roulette, and Roulette.

    * The Midwest’s only World Poker Tour Poker Room. Players can participate in promotions and win seats on the World Poker Tour.

    * A 165-room hotel and a special events center.

    * Covered parking garage with 2,200-spaces.

    * Valet parking

    * A 1,000 place outdoor parking surface

    * Tour bus parking

    * A 10,000 square foot, fully equipped child care center for children 6 weeks to 12 years-old, as well as CyberQuest, a supervised arcade for older kids.

    * Six restaurants ranging from a 500-seat buffet to a seafood restaurant to the high end Copper Rock Steakhouse.

    Gambling aside…

    The Four Winds Casino Resort is now the single largest employer in the area.
    Economic studies predict the casino will support 3,500 jobs in the community, including nearly 2,400 at the casino.
    In addition, it should provide the state of Michigan with an estimated $20 million in annual revenues and provide more than $4 million a year to local governments and agencies.

    The Four Winds Casino is managed by Minneapolis-based Lakes Entertainment, Inc., which currently boasts a total of nine casino development and management deals with six different tribes located in Michigan, Oklahoma, Texas and California.

    Lakes Entertainment also has plans to build a company-owned casino resort in Vicksburg, Miss., and it is the majority owner of WPT Enterprises, a media and entertainment company that produces the “World Poker Tour” television series.

    © Copyright 2000-2008 NewBuffalo.com
    Published by jAess Media · Vicksburg, MI 49097

  9. kathy November 1, 2008 4:59 am\

    In the 60′s when AYERS AND THE WEATHERMEN AND SDS WERE THERE…SO WAS I.

    I ATTENDED U OF M GRADUATING WITH Bsc IN ED WITH HONORS AND IN URBAN EDUCATION AND WENT THROUGH THE RADICAL EDUCATION OF HOW WE WERE ALL PREJUDICE. I went to Mich State to do my Braille and other courses.

    THE GREATEST LESSON I LEARNED WAS THAT AN UNQUALIFIED PERSON WAS UNQUALIFIED AND AFFIRMATIVE ACTION CAN WORK IN REVERSE.

    OBAMA IS NOT QUALIFIED. HE IS A SMOOTH TALKING LAWYER BUT UNQUALIFIED FOR PRESIDENT.

    GOD LOOKS AT THE HEART NOT THE GLOSSY SURFACE MEDIA PRESENTS

    TIME WILL REVEAL WHO WAS RIGHT

    If he can lie about his name where he’s been and has so little to produce for 20 years but raise and spend millions….he is about spreading the wealth to win a campaign not helping you or me.

  10. S M Toth July 5, 2010 7:29 am\

    (Ignorance is the state in which one lacks knowledge, is unaware of something or chooses to subjectively ignore information. This should not be confused with being unintelligent, as one’s level of intelligence and level of education or general awareness are not the same. The word “Ignorant” is an adjective describing a person in the state of being unaware. The term may be used specifically (e.g. “One can be an expert in math, and totally ignorant of history.”) or generally (e.g. “an ignorant person.”)

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