Patterico's Pontifications

9/28/2009

Bank of America Suspends Work with ACORN

Filed under: Government,Politics — DRJ @ 2:25 pm



[Guest post by DRJ]

Bank of America has temporarily suspended its dealings with ACORN’s housing division:

“In a statement, Bank of America said it would not enter into any further agreements with ACORN Housing Corp. until the bank is satisfied all issues have been resolved. ACORN Housing Corp. and Bank of America have worked together for years on mortgage foreclosure issues.

“We completely understand why our lending partners like Bank of America want assurances that the recent allegations against us won’t happen again,” ACORN Housing Corp. said. “We are taking a number of steps to ensure this, including providing ethics training to all of our staff.”

The decision appears to be in response to this:

“On Friday, GOP Reps. Spencer Bachus of Alabama, Darrell Issa of California and Lamar Smith of Texas sent a letter to 14 banks requesting disclosure to the House Financial Services Committee of all financial arrangements with ACORN and its subsidiaries or affiliates.

Each of the three congressmen is the ranking Republican on a House panel: Bachus on the House Financial Services Committee, Issa on the Oversight and Government Reform Committee and Smith on the Judiciary Committee.”

Unlike ACORN’s reasonable written response, CEO Bertha Lewis lashed out at Republicans:

“The Republicans are trying to intimidate banks that have stepped up to help stop the foreclosure crisis,” said ACORN chief executive Bertha Lewis. “These same Republicans ignored ACORN’s warnings about predatory lending and the foreclosure crisis, then gave Wall Street free rein and are now obstructing efforts to help families.”

I think ACORN is better served by reasoned responses than lashing out, but then I also thought ACORN was better served by not filing a lawsuit.

— DRJ

5 Responses to “Bank of America Suspends Work with ACORN”

  1. ACORN warned of predatory lending and the foreclosure crisis? Didn’t they also involve themselves in pushing for loosening the requirements for home loans? Sounds to me like yet another attempt to duck personal responsibility.

    — It’s all about predatory lending, and not about people taking out loans they couldn’t afford to pay back.

    — It’s all about the Republicans intimidating the banks, and not about ACORN’s actions embarassing the banks with which they are associated.

    Can’t wait to see how the race card gets played on this one!

    Icy Texan (31328b)

  2. “…The Republicans are trying to intimidate banks that have stepped up to help stop the foreclosure crisis...” something that Chairman Barney Frank would never do.

    “…These same Republicans ignored ACORN’s warnings about predatory lending and the foreclosure crisis…” which I’m sure we made – someday, somewhere, to some-one.

    The nuts don’t fall far from the tree!

    AD - RtR/OS! (4994e0)

  3. Hmmmm, this is the same ACORN that along with community organizing outfits in Boston and other cities extorted these banks into making loans unqualified borrowers in the first place – why doesn’t Bertha mention that as part of her diatribe?

    I liked the piede posted at Big Government and American Spectator today showing that Bertha’s political director at ACORN New York, Patrick Gaspard, now holds that same title in the White House, the same title Karl Rove held. ACORN is in the House! BAM!!!11ty!!

    “Newly discovered evidence shows the radical advocacy group ACORN has a man in the Obama White House.

    This power behind the throne is longtime ACORN operative Patrick Gaspard. He holds the title of White House political affairs director, the same title Karl Rove held in President Bush’s White House.

    Evidence shows that years before he joined the Obama administration, Gaspard was ACORN boss Bertha Lewis’s political director in New York.

    Lewis, the current “chief organizer” or CEO of ACORN, was head of New York ACORN from at least 1994 through 2008, when she took over as national leader of ACORN. With Gaspard at work in the White House, Lewis might as well be speaking to President Obama through an earpiece as he goes about his daily business ruining the country.

    Erick Erickson of the website RedState recently did an excellent job explaining the relationship of Gaspard to Lewis and President Obama so I won’t take up space here recalling all his valuable insights. Suffice it to say Erickson reported that Gaspard figures prominently in Lewis’s rolodex, which Erickson has in his possession.”

    RTWT

    http://spectator.org/archives/2009/09/28/acorns-man-in-the-white-house

    daleyrocks (718861)

  4. I came here to say, “ACORN warned of predatory lending?” and was a tad disappointed, if not surprised, to see someone beat me to it.

    ACORN agitated for giving loans to underqualified people. Unbelievable.

    –JRM

    JRM (355c21)

  5. Being a member of ACORN ought to be probable cause for arrest.

    PCD (1d8b6d)


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