Obama in financial crisis up to his nose

Tracy E. Williams's letter of Oct. 11 ("Editorial on meltdown just propaganda") left out some important facts about the financial crises we now face. This mess can be placed at the feet of Sen. Obama, ACORN (the Association of Community Organizers for Reform Now) and the Democrats in Congress.

 

In 1994 Sen. Obama worked for the law firm David, Miner, Barnhill and Galland. Sen. Obama was an attorney in a class action lawsuit against Citicorp Bank titled Buyrck-Roberson, Roberson and Brooks v. Citibank Federal Savings Bank. Sen. Obama's team reached an out-of-court settlement forcing Citicorp Bank to give "subprime" loans to people who could not qualify through the normal loan process.

Sen. Obama used "The Community Reinvestment Act," signed into law by President Carter, to allege discrimination and weaken the safeguards that Mr. Williams mentions in his letter.

ACORN has threatened lawsuits, sued, demonstrated, and picketed the private homes of bank officials to force banks to issue subprime loans. This legal and social activism negated the free-market checks that had been in effect for originators of the loans, and underwriters to prevent this catastrophe.

Sen. Obama trained leaders for ACORN and donated legal help to ACORN. Sen. Obama has given ACORN over $800,000 during this election campaign to "get out the vote." ACORN is involved in massive voter fraud! As Sen. Obama works to distance himself from ACORN, he has been less than honest. Sen. Obama's record of bad financial policies, support for questionable organizations and trying to hide the truth should disqualify him from the presidency.

Two years ago Sen. John McCain introduced a bill to prevent the current financial crises. The Democrats prevented Sen. McCain's bill from becoming law! We need to elect a president who does not create problems, but has solutions. Elect John McCain!

David G. Brown, Augusta

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