Posted by Tina
Jamie Dimon has been described as “Obama’s favorite banker” by the New York Times. He’s ACORN’s favorite banker, too, and with good reason. Mr. Dimon is the CEO of JPMorgan Chase, which operates a charitable foundation that gave ACORN $1 million in 2007, along with a smaller grant to the ACORN Institute. Beyond the charitable grants, ACORN and its affiliates have long profited from their “partnerships” with the big banks, taking a cut of subprime loans marketed to low-income borrowers in poor neighborhoods. ** However, JPMorgan Chase isn’t the only big offender here. According to Peter Flaherty — president of the National Legal and Policy Center, which is tracking corporate America’s underwriting of the Left — other big ACORN benefactors include such TARPalicious names as Bank of America and Citigroup. Taxpayers bail out the banks, the banks fund ACORN, and ACORN dispenses advice on human trafficking and tax evasion to aspiring pimps and hookers. Not America’s proudest moment.
How much of that money also goes right into the pockets of Democrats running for office? This little dance between bankers, tarp money, Acorn and our president needs closer scrutiny. Glad to hear someone is on the job. It is also interesting to note that several Democrats in congress have now publicly distanced themselves from Acorn.