Frank Pastore, from KKLA in Los Angeles, recently interviewed Stanley Kurtz, Senior Fellow at the Ethics and Public Policy Center, about his research into Barack Obama. Kurtz wrote an article for the New York Post, “O’s Dangerous Pals,” detailing the relationship between Obama and Madeline Talbot, head of ACORN— the Association of Community Organizations for Reform Now.
Frank Pastore: [ACORN is] involved in election fraud and a number of other things, but in Chicago what Madeline Talbot was doing—and she is actually the person that specializes in doing this—was pressuring financial institutions to make loans to minorities with bad credit ratings, and pressuring financial institutions and banks to do this, or else they couldn’t merge, or do business, or expand, or whatever, so it was really a smack down. And then what happened is these banks were able then to bundle these and sell them to Fannie Mae. Fannie Mae sold them on the international markets and everything was honky dory as long as real estate values continued to go up. But if they flat lined, or began to turn (as they in fact did), then of course these loans defaulted and you ended up with a $700 billion bail out getting voted on in the House of Representatives.
You were involved a couple of weeks ago with something else on WGN radio in Chicago…. Why don’t you lay out what actually happened and your reaction to the whole thing?