Tag Archives: ACORN

News

Why did Bart Stupak vote for the health care reform bill?

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Here’s a story from the Wall Street Journal. (H/T ECM)

Excerpt:

When Bart Stupak announced Sunday he was now a “yes” on the health-care bill, six Democrats stood with him. Even that handful would have been enough to defeat the bill. Instead, they accepted the fig leaf of an executive order—and threw away all the hard-won gains they had made.

[…]Even more troubling… is that few accept the idea that the executive order really adds anything. In fact, on this point National Right to Life, the Catholic bishops and the Susan B. Anthony List are largely on the same page as Planned Parenthood. As are the pro-life Republican leader Mr. Smith and the pro-choice Democrat Diana DeGette of Colorado.

Planned Parenthood calls it a “symbolic gesture,” and says “it is critically important to note that it does not include the Stupak abortion ban.” Rep. DeGette, who screamed so loudly when the Stupak amendment passed, said she had no problem with the executive order because “it doesn’t change anything.” She’s right, because an executive order cannot change the law.

Take the $7 billion in new federal funding for the community health centers. As my former White House colleague Yuval Levin points out, all that has to happen for these federal dollars to start flowing for abortion is for NARAL Pro-Choice America to sponsor a woman demanding an abortion. The center will initially deny funding, citing the executive order. The woman will then sue, arguing that abortion is a part of health care. Given the legal precedents, and the lack of a specific ban in the actual legislation, the courts will likely agree.

Why did Bart Stupak change his vote?

Here’s a press release from his web site. (Dated 3/19/2010)

Excerpt:

WASHINGTON, DC – U.S. Congressman Bart Stupak (D-Menominee) announced three airports in northern Michigan have received grants totaling $726,409 for airport maintenance and improvements.  The funding was provided by the U.S. Department of Transportation Federal Aviation Administration.

Could this be the reason? Thirty pieces of silver?

Fox News reports that Obama skipped signing the executive order on Tuesday.

News

ACORN registration workers charged with felony voter fraud

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Story from Fox News. (H/T Dad)

Excerpt:

Five Wisconsin residents, including two who worked for community organizing group ACORN, were charged Monday with election fraud relating to the 2008 presidential election.

State Attorney General J.B. Van Hollen announced felony charges against Maria Miles, Kevin Clancy, Michael Henderson, Herbert Gunka and Suzanne Gunka.

Miles and Clancy worked for the Association of Community Organizations for Reform Now and are accused of submitting multiple voter registration applications for the same individuals, including each other, to meet voter registration quotes imposed by the community organizing group.

Henderson is charged with one count of voting by a disqualified person and providing false information to election officials. The allegation claims he was on a felony probation and prohibited from voting at the time.

Herbert and Suzanne Gunka are each charged with double voting — a felony — by allegedly absentee voting and then going to the polls to vote.

Michele Bachmann catalogs some more, as she struggles to block federal funding of ACORN:

Stanley Kurtz at National Review wrote the definitive article on Obama’s connections to ACORN.

News

Canada’s finance minister proposes changes to mortgage lending laws

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From the National Post.

Excerpt:

On Tuesday, the Department of Finance announced three changes to the standards governing government-backed mortgages, that come into force April 19. Here are a summary of the changes.

QUALIFYING FOR A FIVE-YEAR RATE

The adjustments to the mortgage framework will require mortgage insurers to ensure that new borrowers qualify for a five-year fixed rate mortgage when calculating the gross debt service and total debt service ratios. The measure is intended to protect Canadians by providing them with additional flexibility to support mortgage payments at higher interest rates in the future.

LIMIT THE MAXIMUM REFINANCING

Borrowers seeking financial flexibility can currently refinance their mortgage and increase the amount they are borrowing on the security of their home up to a limit of 95% of the value of the property. The adjustment will lower the maximum amount of the mortgage loan in a refinancing of a government-backed high-ratio mortgage loan to 90% of the value of the property, consistent with the principle that home ownership is a tool for savings.

DISCOURAGING SPECULATION

This measure will require a minimum down payment of 20% for government-backed mortgage insurance on non-owner-occupied properties purchased for speculation. At present, borrowers may purchase a residential property with a 5% down payment. The change will require a 20% down payment for small non-owner-occupied residential rental properties. Borrowers purchasing owner-occupied residential properties which also include some rental units (such as a duplex) will still be able to access government-backed mortgage insurance with a 5% down payment.

But the CEI reports that the Democrat mortgage bailouts encourage fiscal irresponsibility.

Excerpt:

Economists and real estate experts are saying that a $75 billion mortgage bailout program designed by the Obama administration has backfired and harmed the housing market…

[…]Earlier, the government pushed through billions more in other mortgage bailouts, to bail out even reckless high-income borrowers, and forced financial institutions the government took over in the name of fiscal responsibility, like Freddie Mac, to run up billions in losses bailing out irresponsible borrowers.

Banks will now be pressured to make even more risky loans. The House has approved Obama’s proposal to create the so-called Consumer Financial Protection Agency. Government pressure on banks to make loans in economically-depressed neighborhoods was a key reason for the mortgage meltdown and the financial crisis. Yet Obama’s disturbing proposal would empower the new agency to enforce the Community Reinvestment Act without regard for banks’ financial safety and soundness.  The Community Reinvestment Act was a key contributor to the financial crisis.

The mortgage crisis was also caused by the reckless government-sponsored mortgage giants Fannie Mae and Freddie Mac, and by federal affordable-housing mandates. But Obama’s proposed financial rules overhaul does absolutely nothing about Fannie Mae and Freddie Mac, admits Obama’s Treasury Secretary, tax cheat Timothy Geithner, even though he admits that “Fannie and Freddie were a core part of what went wrong in our system.”

Worse, the Obama Administration lifted the $400 billion limit on bailouts for Fannie and Freddie, so that they could continue to buy up junky mortgages at taxpayer expense, and showered their executives with $42 million in compensation.

Obama’s financial-regulation plan is “largely the product of extensive conversations” with two lawmakers responsible for the corrupt status quo, Chris Dodd and Barney Frank, and it expands the reach of regulations that have been used by left-wing groups to extort pay-offs from banks.

This is why we should have elected an economist like Stephen Harper.