Obama versus America

If Barack Obama is elected to the office of President of the

United States

, the election may be contested because of the activities of voter fraud by ACORN, an organization to which Senator Obama is closely connected. In fact, his election may be illegal. There is also the prospect that an Obama Justice Department will quash any effort to investigate ACORN, its fraudulent activities and its involvement in the current financial crisis - ACORN is responsible for trillions of dollars worth of bad mortgages and many of Obama's people were heavily involved, not to mention Obama. Our government could be paralyzed for years just haggling over ACORN.

After careful study of the current financial crisis, I believe the facts of this crisis will clearly point to the absolute necessity that Senator Barack Obama should resign as Senator of the

U.S.

and as candidate for President of the

U.S.

Here are the reasons:

Recently, Barack Obama said: "When sub-prime-mortgage lending took a reckless and unsustainable turn, a patchwork of regulators systematically and deliberately eliminated the regulations protecting the American people."[1] This statement represents a lie and a re-writing of history. The fact is, the people who called for de-regulation of the mortgage industry were “progressives” (Democrats) with oversight authority in the Congress and Senate. These representatives of the people were catering to the interests of outside political contributors and other progressive organizations with influence over them. The regulators in the Bush Administration that Obama blames for this crisis had, on several occasions, recommended increased regulation of Fannie Mae and Freddie Mac, two of the organizations that are at the heart of our present crisis.

In fact, Obama personally participated in the “battle” to loosen lending standards and is closely involved with most of the players who perpetrated the lending scam. These include progressive legislators such as Barney Frank and Christopher Dodd, the executives who falsified accounting records at Freddie Mac and Fannie Mae and the leadership of organizations like ACORN where Obama held leadership training seminars in the 90s – the very seminars that taught ACORN leaders how to “advocate” for the poor. In addition, “According to the New York Times, Obama’s memberships on [two] foundation boards (the Woods Fund and the Joyce Foundation), “allowed him to help direct tens of millions of dollars in grants” to various liberal organizations, including Chicago Acorn, “whose endorsement Obama sought and won in his State Senate race.”[2] ACORN also endorse Obama in his Presidential bid. Recently, Obama paid ACORN over $800,000. Today, ACORN, in addition to its dealings in the world of real estate, is engaged in a partisan effort to register (legally and illegally) hundreds of thousands of voters for Barack Obama’s Presidential run.

The financial crisis of today was a crisis caused by politicians who held the belief that private capital markets can be used to advance social policies. This belief can be practiced in many ways. One way is to force capitalists to provide products, services and capital to the poor free of charge or at discounted rates. This is often accomplished by means of the tactic of “shaking down” the capitalist by threatening negative publicity, threatening boycott and making false charges.

“Obama has had an intimate and long-time association with the Association of Community Organizations for Reform Now (Acorn), the largest radical group in

America

.”[3] As a lawyer and as a state legislator, Barack Obama has worked for and has played a critical role in advancing the goals of ACORN. This organization, in particular, has practiced shakedown activities against banks and lending institutions in order to force those banks to provide funding for loans that could not be paid back because they violated proper lending policies. The scope and size, the sheer number of these loans over a period of decades is directly responsible for the financial crisis. There can be no other cause that exerted more influence on the crisis than the practices of ACORN, Fannie Mae and Freddie Mac.

“To understand the current subprime credit mess is to glimpse a world in which a politically active organization with a non-profit housing arm reaps millions of dollars through “rent seeking” or manipulation of favorable laws. ACORN and its non-profit housing arm have taken in millions of taxpayer and corporate dollars by abusing a three-decade-old law intended to help the poor obtain housing. For decades, the activist organization known as ACORN has grabbed headlines—and cash—by attacking mortgage lenders in the name of citizens’ rights. Considerably less attention has been paid to the amount of taxpayer money that funds ACORN Housing Corporation (AHC) and to the financial rewards ACORN has amassed by extracting resources from corporate targets.‘[4]

“The only way these borrowers could qualify for their mortgage loans (even ignoring their bad credit ratings) was to take out adjustable rate mortgages, some of which had astonishingly low first-year rates in the 3 percent range, and sometimes lower. This is what has largely fueled the subprime mortgage meltdown—the inability of thousands of subprime borrowers to afford their mortgages now that their rates have adjusted upward. Thus, the combination of the Fed’s enforcement of the CRA (with the help of political pressure groups like ACORN) and its post 9/11 monetary policy in general are the reasons for the bursting real estate bubble and the “subprime” mortgage meltdown.”[5]

“ACORN’s long history of abusing the public’s trust seems to have continued through the housing bubble. Its advocacy for loose credit played a role in the current subprime mess. Its advocacy of exotic loans calls into question the wisdom of giving taxpayer money to the organization. And its record of inappropriate ties between a non-profit that receives government funding and a political organization may violate federal laws. Congressional leaders should be wary of donating hard-earned tax dollars to a group with this sordid record. At a minimum, a Congressional investigation is warranted.[6]

“Chicago Acorn appears to have played a major role in Obama’s political advance. Sure enough, a bit of digging into Obama’s years in the Illinois State Senate indicates strong concern with Acorn’s signature issues, as well as meetings with Acorn and the introduction by Obama of Acorn-friendly legislation on the living wage and banking practices.”[7]

Barack Obama and his associated organizations, in particular Fannie Mae, Freddie Mac, ACORN and other individuals associated with these companies are directly responsible for the financial crisis. "Most significantly, Penny Pritzker, the current Finance Chairperson of Obama's presidential campaign helped develop the complicated investment bundling of subprime securities at the heart of the meltdown. She did so in her position as shareholder and board chair of Superior Bank. The Bank failed in 2001, one of the largest in recent history, wiping out $50 million in uninsured life savings of approximately 1,400 customers. She was named in a RICO class action law suit but doesn't seem to have come out of it too badly.

As a young attorney in the 1990s, Barack Obama represented ACORN in Washington in their successful efforts to expand Community Reinvestment Act (CRA) authority. In addition to making it easier for ACORN groups to force banks into making risky loans, this also paved the way for banks like Superior to package mortgages as investments, and for the Government Sponsored Enterprises Fannie Mae and Freddie Mac to underwrite them. These changes created the conditions that ultimately lead to the current financial crisis.”[8]

Barney Frank and Christopher Dodd are complicit, along with others, in hiding from the American public the bad loan policies that were being practiced by Fannie Mae and Freddie Mac. In addition, they blocked any effort by Republicans to get these organizations under control.

This is not guilt by association; this is guilt on the part of Barack Obama. What the Democrats sold as an effort to open up home ownership for poor people was in fact an elaborate scheme to steal money from productive citizens on behalf of quasi-governmental corporations created by Democrats. At this point, it appears that the guilty have hidden their tracks well, but one thing is certain, there are some thieves among us and you have to look to the people who advocated the changes in lending practices to find those who are now covering up their involvement.

As citizens of the

United States

, we should call upon our elected officials to investigate the roles of key people associated with the Democratic Party, the campaign of Barack Obama, Barack Obama himself, ACORN, Fannie Mae, Freddie Mac, Barney Frank, Christopher Dodd and other politicians. The purpose of these investigations should be to identify their roles, any illegal activities, any efforts to capitalize on "insider information" regarding the lending institutions influenced by ACORN and any transfers of money that directly relate to their activities and this crisis. Until this investigation is concluded, a cloud of suspicion must be associated with these people and organizations and they should not be allowed to cover up their activities by blaming the crisis on "greed" in Wall Street organizations. In view of the fact that Congress is going home to run for re-election, any hearings to be held will have to wait until after Election Day. This means we can’t afford to elect Barack Obama who, as President, might be involved in stopping and covering up any investigation of his own activities.

This financial crisis is the worst financial crisis of our life times. It is worse than the Enron scandal which involved months of investigation, prosecution and significant, almost endless television coverage. Endless articles were written about the players in this scandal and the scam that they perpetrated. As a nation, we cannot afford to elect the very individual who may cover up his own and his supporters’ involvement in creating this worst financial crisis of our life times. Such an election will tie up our government in endless political battles, investigations and possibly even paralyze our government for several years. In order to get to the bottom of this financial fiasco, Barack Obama must immediately resign as a Senator and as a candidate for the Presidency.

We should also call for the immediate resignation from their respective offices of Barney Frank, Christopher Dodd and any other government official who has been involved in covering up the problem and advancing the policies of ACORN, Fannie Mae and Freddie Mac.

[1] http://www.jetsinsider.com/forums/showthread.php?t=178772

[2] http://article.nationalreview.com/?q=NDZiMjkwMDczZWI5ODdjOWYxZTIzZGIyNzEyMjE0ODI=&w=Mw==

[3] http://article.nationalreview.com/?q=NDZiMjkwMDczZWI5ODdjOWYxZTIzZGIyNzEyMjE0ODI=

[4] http://brainshavings.com/supplements/acorn-04.pdf

[5] Thomas J. DiLorenzo, “The Government-Created Subprime Mortgage Meltdown.” Retrieved from the Web at www.LewRockwell.com, 6 September 2007.

[6] http://brainshavings.com/supplements/acorn-04.pdf

[7] [7] http://article.nationalreview.com/?q=NDZiMjkwMDczZWI5ODdjOWYxZTIzZGIyNzEyMjE0ODI=

[8] http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html

Obama must Resign

by Roberto Diego

Copyright 2008, Roberto Diego

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