The man who once ran the Chicago housing programs for ACORN, the notoriously corrupt, scandalous community organization, is now the director of a new Illinois housing assistance program funded with $445 million by the White House. In the Obama Administration waste, fraud, abuse, and corruption aren't rooted out they get repackaged and rewarded with a huge budget increase.
Remember the outrage over the exposure of ACORN travesties including voter fraud and offering advice on tax evasion that led to Congress overwhelmingly voting to defund the scandal plagued organization (345-71 in the House, 85-11 in the Senate)?
Less salacious, but far more economically disastrous was the "starring role" that ACORN played in precipitating the financial meltdown of 2008 initiated by the sub-prime mortgage market meltdown. According to acclaimed investigative journalist Matthew Vadum, ACORN's "wanton disregard for the economic wellbeing of America" through the very direct involvement for decades in federal housing policy and programs at Fannie Mae and Freddie Mac, perpetually weakening underwriting standards, and ignoring or even falsifying loan documentation put ACORN squarely at the center of the collapse of the sub-prime mortgage house of cards.
Huge numbers of loans that eventually became the problem trace to ACORN originations. Vadum discovered that ACORN housing brochures openly bragged about how they undermined mortgage loan underwriting standards.
