ACORN Gets $2,000,000 from Bailed Out Bank of America

[Terminator]

ACORN Gets $2,000,000 from Bailed Out Bank of America

Remember the outrage when it was discovered former Merrill Lynch CEO John Thain – how he spent over a $1 million to redecorate his office, as meticulously itemized by CNBC correspondent Charlie Gasparino for The Daily Beast?

Merrill Lynch was acquired by Bank of America (NYSE:BAC) in September 2008 and Thain was eventually let go, and the backlash for his extravagant redecorating ensued.

But, this latest indiscretion has gone unnoticed by the media – a donation in the amount of $2 million to the ACORN (Association of Community Organizations for Reform Now) Housing Corporation of Chicago, according to a document posted on Bank of America corporate philanthropy Web site – which shows the bank had given the total amount in grant money from October 2007 through June 2009.

http://www.businessandmedia.org/articles/2009...


Does the corruption ever end?

[BigDawg]

I might have to find a new Bank.


Whats funny is when the government was giving all the money to banks Bank of America actually tried to turn it down but was told they had to take it. Thats what they used to acquire Merryl Lynch with, really came back to bite them in the ass huh???

[MacLean]

Bank of America didn't need the money, they were one of the few that were solid.

This ACORN thing bothers me, but BofA is still the only rock solid bank - makes it tough to leave.

[countybear]

Does the corruption ever end?

... not in this administration.

The Chicago ACORN Received Grants Of $45,000 (2000), $30,000 (2001), $45,000 (2001), $30,000 (2002), And $40,000 (2002) From The Woods Fund. (Donors Forum Website, ifs.donorsforum.org, Accessed 6/10/08)

• NOTE: From 1993 To 2002, Barack Obama Served On The Board Of Directors For The Woods Fund. (Tim Novak and Fran Spielman, “Obama Helped Ex-Boss Get $1 Mil. From Charity,” Chicago Sun-Times, 11/29/07)

ACORN’s Political Action Committee Endorsed Obama. “[A]CORN's political action committee endorsed Barack Obama for President. … The endorsement reflects a belief that Obama – who worked as a community organizer on the South Side of Chicago – understands that change must come from the ground-up, as part of a working coalition, rather than from position papers.” (Katrina Vanden Heuvel, Op-Ed, “ACORN: Obama Gets It,” The Nation, 2/23/08)

Obama Was Part Of Team Of Lawyers Who Represented ACORN In A Suit Against The State Of Illinois. “Obama was part of a team of attorneys who represented the Association of Community Organizations for Reform Now (ACORN) in a lawsuit against the state of Illinois in 1995 for failing to implement a federal law designed to make it easier for the poor and others to register as voters.” (Mike Robinson, “Obama Got Start In Civil Rights Practice,” The Associated Press, 2/20/07)

Obama’s Campaign Paid Over $800,000 To ACORN Subsidiary, CSI, For Get-Out-The-Vote Efforts, But “Mistakenly Misrepresented” Their Work To The FEC:
Obama’s Campaign “Paid More Than $800,000” To ACORN For Get-Out-The Vote Efforts; The Campaign Originally “Misrepresented” The Group’s Work To The FEC. “U.S. Sen. Barack Obama's presidential campaign paid more than $800,000 to an offshoot of the liberal Association of Community Organizations for Reform Now for services the Democrat's campaign says it mistakenly misrepresented in federal reports. An Obama spokesman said Federal Election Commission reports would be amended to show Citizens Services Inc. -- a subsidiary of ACORN -- worked in ‘get-out-the-vote’ projects, instead of activities such as polling, advance work and staging major events as stated in FEC finance reports filed during the primary.” (David M. Brown, “Obama To Amend Report On $800,000 In Spending,” Pittsburgh Tribune Review, 8/22/08)

Quid pro quo.

[BigDawg]

Your right Maclean, it does bother me that they made that contribution. On the other hand there isnt many choices out there for solid reliable banks right now.