Did ACORN help cause the subprime mortgage crisis which lead to the recession?
ACORN was always a huge supporter of the CRA and lobbied the government and protested banks to ensure they were compliant with it. They often worked with and put pressure on politicians to ensure that banks made subprime loans. ACORN even made various deals with the banks to keep those subprime mortgages coming. Did ACORN help cause the mortgage crisis and the recession?
Asked By: Mary K - 9/17/2009
Best Answer - Chosen by Asker
Did they contribute? Probably... More
Answered By: The Beaver for PRESIDENT - 9/17/2009
Additional Answers (23)
You got it.
Answered By: 9-12'er - 9/17/2009
Well, of course they did! Right after they dropped anthrax spores out of airplanes over all the major American cities, while simultaneously dumping the AIDS virus into every water source in the country.
Answered By: Carol - 9/17/2009
(pointing 2 thumbs up in the air)
Answered By: Kevin - 9/17/2009
Yes, they can take credit for it.
Answered By: Well Duh! - 9/17/2009
yes because they are the most powerful organization ever. Wait, now I am confused; but I thought that was Barney Frank? The One who single-handedly brought down the entire US economy, and by extension world economy. Barney Frank is 'The ONE'.
Answered By: Pigeon-carcass hairpiece - 9/17/2009
No, the GOP did it all by their little selves.
Answered By: Willa - 9/17/2009
Yep. You are absolutely right.
Answered By: Jacob - 9/17/2009
OK as a lib ill give acorn 8% blame. It was Bushs idea to push housing and the speculators who pushed the prices through the roof.
Answered By: Quinni - 9/17/2009
yeah, and they nailed Jesus to the cross, too...
Answered By: man dog - 9/17/2009
Hugh Betcha !!!>>>ACORN IS Obama and is Crooked !...I love it... The truth will DESTROY OBAMA
Answered By: PC ANTAGONIST - 9/17/2009
ACORN and its attorneys such as Barrack Obama forced banks to give out loans to poor credit risks further adding fuel to the fire. ACORN was also behind the push to issue credit cards to i****************s. So the answer to your question is a yes.
Answered By: justine - 9/17/2009
Yes. A country in crisis turns to its government for the answers. All of this did not happen by accident. This is liberalism at its finest. ;-)
Answered By: Jennifer W - 9/17/2009
they had a hand in it, but it wasn't all their fault... I blame liberal ideology.
Answered By: Albert The Fiscal PuertoRican - 9/17/2009
"In a 1995 case known as Buycks-Roberson v. Citibank, Obama and his fellow attorneys charged that Citibank was making too few loans to black applicants and won the case. As one commentator noted in May 2008, legal "successes" such as this were probably responsible for the sub-prime mortgage crisis of 2007 AND 2008... More
Answered By: KS - 9/17/2009
Answered By: Mike - 9/17/2009
To answer your question, No. The mortgage crisis was caused in large part by the proliferation of risky subprime loans originated by deregulated lenders, sold off by securities firms into subprime mortgage pools, and abetted by rating agencies that failed to do their job. Many of the lenders responsible did not fall... More
Answered By: justjr - 9/17/2009
Every bank that extended a mortgage to someone could not afford it, every person who took out a mortgage they could not afford, Congress's pressuring of Fannie Mae and Freddie Mac to extend mortgages to people who could not afford them and every special interest group who pressured Congress... More
Answered By: Infernal Disaster - 9/17/2009
Possibly. They were the GOP's darlings until the Republicans lost the election, with McCain being a keynote speaker with praises for them just a few years ago... More
Answered By: PrivacyNowPlease! - 9/17/2009
You got to be kidding me! The Banks caused the sub prime morgage crisis because of their own greed.
Answered By: w*f - 9/17/2009
While they were big supporters of Obama, people are ignoring the others in DC who are in bed with ACORN. These people are still in office. I hope they are all kicked out in 2010 and 2012.
Answered By: timothy p - 9/17/2009
According to ACORN, yes, they did. They're proud of it.
Answered By: Peace through blinding force - 9/17/2009
Ancillary cause at best...definitely not a primary one. At the end of the day, it was companies like HCL Finance which introduced the NINA and NINJA (No Income, (No Job), No Asset) loans, as well as unregulated derivatives markets... More
Answered By: A. E. Moreira - 9/18/2009
Sure they did. Their organization needs to be under investigation from the bottom up and then put out of business. Most of them should be in prison.
Answered By: MsFancy - 9/20/2009
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