By Warner Todd Huston ——Bio and Archives--October 28, 2009
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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.And here is the point. Many Congressmen have been heard to say that ACORN should be defunded. But without the voices of the voters back home, this temporary lapse in Congressional largess to ACORN will be just that, temporary. As we can see with Maxine Waters slipping yet another payoff to ACORN into congressional rules, government cannot be trusted to hold the line against criminal enterprises like ACORN. And it isn’t just Congress we have to worry about. Democrats all across the country are looking for ways to give ACORN payoffs in the dead of night when the voters aren’t looking. And some Republicans that get large campaign donations from ACORN are not much different. It takes the continued pressure from voters to keep our government officials honest. Your voice is needed to tell our politicians both at the state level and the federal level to dump ACORN. The nature of the intertwined association between government and ACORN is why we ask that you join us and Say NO to ACORN. Sign the petition and tell Governor Quinn that you want a real investigation to end corruption for good.
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Warner Todd Huston’s thoughtful commentary, sometimes irreverent often historically based, is featured on many websites such as Breitbart.com, among many, many others. He has also written for several history magazines, has appeared on numerous TV and radio shows.
He is also the owner and operator of Publius’ Forum.