ACORN Responds to McCain Campaign Ad

Republicans just can't pass up the opportunity to politicize a crisis by blaming the poor, minorities and Democrats. The first shot came from one of the right's newly formed organizations, American Issues Project, with a new ad:

"Our ad seeks to set the record straight and let the American people know who is responsible for this $700 billion catastrophe," said Ed Martin, the organization's president. "While liberals and some in the media try to affix blame to the Bush Administration for the housing crisis and resulting financial meltdown, this is one case where the real impetus for all these troubles is crystal clear. It was not the free market but government supported and propped-up institutions Fannie and Freddie that are the root cause. All roads for this failure lead back to liberals and their close ties to these two government institutions." The ad further describes campaign contributions and sweetheart mortgage deals for Senate liberals and their connection to the economic meltdown.

Of course all of this is also code for giving loans to poor people, especially minorities, created the crisis:

The thesis is laid out almost daily on the Wall Street Journal editorial page, in the National Review, and on the campaign trail. John McCain said yesterday, "Bad mortgages were being backed by Fannie Mae and Freddie Mac, and it was only a matter of time before a contagion of unsustainable debt began to spread." Washington Post columnist Charles Krauthammer provides an excellent example, writing that "much of this crisis was brought upon us by the good intentions of good people." He continues: "For decades, starting with Jimmy Carter's Community Reinvestment Act of 1977, there has been bipartisan agreement to use government power to expand homeownership to people who had been shut out for economic reasons or, sometimes, because of racial and ethnic discrimination. What could be a more worthy cause? But it led to tremendous pressure on Fannie Mae and Freddie Mac—which in turn pressured banks and other lenders—to extend mortgages to people who were borrowing over their heads. That's called subprime lending. It lies at the root of our current calamity." The subtext: If only Congress didn't force banks to lend money to poor minorities, the Dow would be well on its way to 36,000. Or, as Fox Business Channel's Neil Cavuto put it, "I don't remember a clarion call that said: Fannie and Freddie are a disaster. Loaning to minorities and risky folks is a disaster."

And now McCain has come full circle, going after ACORN:

This afternoon, McCain's camp launched a 90-second web ad and an accompanying website that seeks to tie together the allegations, Obama's ambitiousness, and the housing crisis. "Who is Barack Obama? A man with 'a political baptism performed at warp speed, vast ambition," the announcer says in a foreboding tone. "After college, he moved to Chicago. Became a community organizer. There, Obama met Madeleine Talbot, part of the Chicago branch of ACORN. He was so impressive that he was asked to train the ACORN staff. "What did ACORN in Chicago engage in? Bullying banks, intimidation tactics, disruption of business. ACORN forced banks to issue risky home loans. The same types of loans that caused the financial crisis we're in today. No wonder Obama's campaign is trying to distance him from the group, saying, 'Barack Obama never organized with ACORN.' "But Obama's ties to ACORN run long and deep. He taught classes for ACORN. They even endorsed him for president. But now ACORN is in trouble."

So today I was happy to see ACORN's response in my email:

ACORN Response to Senator McCain's Smear Ad ACORN President Maude Hurd released the following statement today in response to the McCain campaign's new ad claiming that, among other things, ACORN is responsible for the mortgage crisis: "For almost a decade, ACORN, a community organization of 400,000 families in neighborhoods across the country, has been fighting against the predatory lending practices that have robbed our members of their homes, destabilized neighborhoods, and roiled the global economy." "In his newest ad, John McCain's campaign bizarrely claims, "ACORN forced banks to issue risky home loans, the same types of loans that caused the financial crisis we're in today." Nothing could be further from the truth. In fact, ACORN has worked successfully to help working class families get good home loans on fair terms from legitimate banks and has fought vigorously against predatory lenders who have ripped off families in our communities. These predatory loans caused the crisis." "For more than a decade, ACORN members have held protests, released reports, and advocated for regulations to protect homeowners from predatory lenders. ACORN organizers and volunteers have been working day and night to help victims of the GOP economic meltdown to save their homes from foreclosure. In fact, ACORN has brought class action lawsuits against several predatory lenders, and has lobbied the Federal Reserve and Congress in support of regulations against predatory lending. ACORN has even been successful in convincing many lenders to treat homeowners more fairly and help families be able to make their mortgage payments and save their homes." "Unfortunately, the Bush administration and Congressional Republicans like John McCain have blocked the sensible regulations that ACORN and others proposed that would have averted the mortgage meltdown. If John McCain thinks that community organizers caused the foreclosure crisis, he knows even less about the economy than previously thought." "John McCain and the Republicans are desperately trying to shift the blame for the economic crisis they caused with a philosophy of deregulation and indifference to homeowners. All the grainy footage and creepy music in the world can't cancel out some simple, basic facts, and the facts about the economy are not on John McCain's side."

I believe that something positive can come from the worst situations. My hope for good from this crisis is that the upcoming elections are a disaster for the Republicans. Maybe then their members will finally see they have allowed a morally depraved the group of people to control their party.