Former ACORN Director Gets $445 Mil From U.S. Treasury

Locutus

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The Obama Administration has given a former director at the scandal-plagued Association of Community Organizations for Reform Now (ACORN) nearly half a billion dollars to offer “struggling” Illinois homeowners mortgage assistance, a Judicial Watch investigation has found.

It means the ACORN official (Joe McGavin) will go from operating a corrupt leftist community group that’s banned by Congress from receiving federal funding to controlling over $445 million in U.S. taxpayer funds. The money is part of a $7.6 billion Treasury Department program to help the “unemployed or substantially underemployed” make their mortgage payments.

In this case, JW found that a subcomponent of the state-run Illinois Housing Development Authority, known as the Illinois Hardest Hit Program, has just received a generous $445,603,557Treasury infusion. The Obama Administration established Hardest Hit in 2010 to provide targeted aid to families in states hit hardest by the economic and housing market downturn, according to its website.

In early 2011 McGavin was appointed as director of Hardest Hit. Before that he was director of counseling for ACORN Housing in Chicago and operations manager for a Chicago ACORN offshoot called Affordable Housing Centers of America (AHCOA). His strong ties to ACORN make him a suspect candidate to handle such a huge amount of taxpayer dollars.




more grifterism here


Former ACORN Director Gets $445 Mil From U.S. Treasury | Judicial Watch
 

EagleSmack

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Not all of it probably..It would be interesting to see in a year or two how much money went to helping people keep their homes and how much went to administration and how much just went.

These programs seem to benefit some but also give the administrators and their cronies sweet salaries.
 

Just the Facts

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Oct 15, 2004
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It's not going to ACORN it's going to AHCOA. That's completely different! :)

Edit: And none of that money will trickle into the Obama campaign, and it has nothing to do with being one of the reasons Obama was so adamant about raising the debt ceiling!
 

EagleSmack

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Very interesting bit of news especially since ACORN officially shut down all of its offices on April 1, 2010:

ACORN Shuts Down

Another Investigation Vindicates Now-Defunct ACORN; O’Keefe Tapes “Heavily Edited” | FDL News Desk

What part of "Former ACORN Director" did you misunderstand?


Please note also that the beneficiary (assuming the story is true) got its authorization under TARP which was established during the Bush years.

And wasn't Bush the worst President ever? What does that make your Messiah?
 

Highball

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And now he, Axelrod and Holder are opening an escort business operated and managed by Barney Frank, a new Small Business Start up loan qualifier. Male escorts only!
 

gopher

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Jun 26, 2005
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It's not going to ACORN it's going to AHCOA. That's completely different! :)

Edit: And none of that money will trickle into the Obama campaign, and it has nothing to do with being one of the reasons Obama was so adamant about raising the debt ceiling!


Where do you see in my post that I identified the beneficiary as ACORN?
 

gopher

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What part of "Former ACORN Director" did you misunderstand?

Well, that's my point though perhaps I wasn't entirely clear: since its shut down two years ago you would presume that the government would not be handing money to anyone affiliated with that organization. Note that some of those charges were later proven wrong.
 

gopher

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Only if you didn't know better.

But remember that TARP was mostly repaid:

With Fifth Third Out, Banks Have Repaid 99% of TARP - WSJ.com

According to WSJ (hardly a "liberal" site) the program was a success. Perhaps this is why the monies in this instance were extended to the beneficiary. All of the right wingers above are crying doom and gloom but the government's experience with that program actually worked - of course, the repayment was in large part under Obama but I better not say that too loud or those right wingers will start crying about something.