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Friday, January 30, 2009
Michelle Malkin :: Townhall.com Columnist
Stimulus Slush Fund for Housing Entitlement Thugs
by Michelle Malkin
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If not ACORN, then who? Next in line for the stimulus windfall is the Massachusetts-based Neighborhood Assistance Corporation of America (NACA). Founder Bruce Marks proudly calls himself a "bank terrorist." As I reported last spring, Marks threatened to march into the neighborhoods of bank executives and bully their children. He's done it for years, all under the guise of "social justice" and "neighborhood stabilization."

Marks' agenda is blatantly political and personally lucrative. NACA -- with dozens of offices across the country -- has a no down payment, no closing costs, low interest rate policy for low-income minority borrowers and takes a hefty fee for each transaction. NACA loan applicants are then required to attend workshops that indoctrinate them in the group's protest thuggery.

The NACA recruits serve on, you guessed it, "Neighborhood Stabilization Committees." Those whose loans are approved must then pledge to assist the stabilization committees in five "actions" (like the spring 2008 mob protest at Bear Stearns' New York headquarters) per year. It's an endless cycle of demonstrations on the front end (to get the loans) and the back end (to prevent foreclosures on bad loan risks) and back again in an endless loop. These shakedowns have yielded nearly $10 billion in payoffs from capitulating corporate giants Citigroup and Bank of America.

Do lawmakers really want to sign on to this self-perpetuating government racket and self-proclaimed bank terrorism? Insanity, the old saw goes, is doing the same thing and expecting different results.

Any self-respecting Senate Republican who would vote for this multibillion-dollar slush fund in the name of saving the economy needs his or her head examined.

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About The Author

Michelle Malkin makes news and waves with a unique combination of investigative journalism and incisive commentary. She is the author of Unhinged: Exposing Liberals Gone Wild .

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©Creators Syndicate
Absolute power
corrupts absolutely. Lest we forget, the agenda of those in power is to stay in power. The ACORN agenda will be to register 35 million illegals as democrats, thereby being able to repeal the 2-term limit on THE ONE. Giving them $5B practically guarantees that plan.

BO is NOT a fool.....
UGGGH! What a fool Obama is! He still has not figured out that what he says has a profound effect on everything. He's "very disappointed" in CEO's getting their bonuses, the Dow tumbles again, and people want to riot.

I disagree. BO knows exactly what he's doing and saying and that his words/actions would have a very profound effect on his fans.

He knew his 'charisma' would work from the beginning and he was right. Look what happened. He's now Pres of the USA. And I really do believe we're in a lot of trouble w/him at the helm.

For one thing, I think he's a hidden Muslim.
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