Commies Pass Amendment to Give ACORN Regulatory Authority Over Financial Institutions

What?  With the 2010 election looming large, you didn’t actually think the Commies were going to throw their dead-voter machine and fraudulent cash-cow, ACORN, under the bus, did you?

Democrats Vote To Give ACORN Regulatory Authority Over Financial Institutions

Republican Committee on Financial Services

Washington – During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to play a role in setting regulations for financial institutions.

The Waters amendment adds to the CFPA Oversight Board 5 representatives from the fields of “consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve underserved communities, or representatives of communities that have been significantly impacted by higher-priced mortgages” to join Federal banking regulators in advising the Director on the consistency of proposed regulations, and strategies and policies that the Director should undertake to enforce its rules.

By making representatives of ACORN and other consumer activist organizations eligible to serve on the Oversight Board, the amendment creates a potentially enormous government sanctioned conflict of interest.  ACORN-type organizations will have an advisory role on regulating the very financial institutions from which they receive millions of dollars annually in direct corporate contributions and benefit from other financial partnerships and arrangements.  These are the same organizations that pressured banks to make subprime mortgage loans and thus bear a major responsibility for the collapse of the housing market.

In light of recent evidence linking ACORN to possible criminal activity, Democrats took an unprecedented step today to give ACORN a potential role alongside bank regulators in overseeing financial institutions.  This is contrary to recent actions taken by the Senate and House to block federal funds to ACORN.

A recent inquiry into bank funding of ACORN activities by three House Committees found that institutions that would be regulated by the CFPA have provided millions of dollars to the organization in the form of direct donations, lines of credit, cash, and other assets over the last 15 years.

The amendment passed on a vote to 35-33. Click here to view the vote

Explore posts in the same categories: Abuse of Power, ACORN, politics

7 Comments on “Commies Pass Amendment to Give ACORN Regulatory Authority Over Financial Institutions”

  1. Gramfan Says:

    No matter what scandal or corruption comes out they are going to hang on to power until they have completely changed everything.
    Who knows? By the time the elections come around will people still be able to vote? I wouldn’t be surprised if they did something about that!

    Then also consider Copenhagen: will we all be disenfranchised when/if they sign that? Possibly.

    • tgusa Says:

      Sure you will be able to vote but your actual vote will be cancelled out by the taxpayers. Err, I mean acorn who get their money from DC who get it from the tax payers. Oh never mind its complicated and hard to pin down just like all organized crime is. That’s the main the reason it is called organized crime, they are organized. The process has been fully corrupted and in case you haven’t noticed the democrats are ok with acorn and their tactics, not one word regarding them from their masters, the democrats. It is actually us that are the acorn types in their minds, to them, we are the villains.

      Some people say that America may become a banana republic, may, we are one, take a good look. The democrats have had their way but let’s not forget the republicans. Ah heck, let’s forget them too they are less than useless. Republicans could not get the flag past half staff even if they all got together and pulled. A political party linked to this should be finished the fact that they are not shows me we have taxation without representation. That’s right, criminal representation does not count no matter how much they want it to.

      • tgusa Says:

        If the time it took for the guvmint to recognize that organized crime existed in America is any indication it should be quite some time before they figure the south side gang, err, acorn out. Capone was around in the 20’s and 30’s it wasn’t until the 60’s that the guvmint realized what was going on.

        Capone and his ilk didn’t want to usurp the constitution, quite the contrary, he found it beneficial. He and they did it neighborhood by neighborhood city by city, uh huh pretty much like acorn, Barack and the democrats.

        They are taking it a step further, they don’t find it beneficial, Capone preferred an outlaw form of capitalism, they prefer and Capone like state run society.

  2. tgusa Says:

    Instead of focusing on the problem Americans are the primary focus of the powers that be. This is the country they have created I hop you young people enjoy it. Exact change and up against the wall while you are at it mister. in America today the criminals are free to run wild spreading their disease, the price of that is our freedom. Don’t say I didn’t warn you, cause I did.

    Don’t believe me though, watch some old movies that take place in 1940’s Nazi Germany and see if you can spot the similarities.

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