House Proceeding 09-30-09 on Sep 30th, 2009 :: 0:46:00 to 0:51:05
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0:46:00 to 0:51:05( Edit History Discussion )
Speech By: Trent Franks

0:46:41 to 0:47:02( Edit History Discussion )

Trent Franks: of several recent videos revealing acorn employees coaching two young individuals on how to obtain government subsidized housing to set up an underground prostitution house with underaged girls brought into this country illegally. but this is the only beginning of acorn's criminal activities plrks speaker. acorn is under investigation in at least 4 states for voter

0:47:03 to 0:47:25( Edit History Discussion )

Trent Franks: registration fraud and acorn workers have employed criminal tactics, including establishing an illegal quota system and illegally compensating canvassers. acorn has repeatedly reported false information to the i.r.s. and department of layer and acorn and its affiliates have received more than $53 million

0:47:26 to 0:47:46( Edit History Discussion )

Trent Franks: in federal funds from 1994 to 2008 and were eligible up to $8.5 billion more dollars from the economic stimulus bill in the 2010 federal budget. mr. speaker, i believe one of the most overlooked astounding trophies in acorn's criminal hall of fame is its

0:47:47 to 0:48:08( Edit History Discussion )

Trent Franks: role in fighting for policies that led to the mortgage crisis and got us in our current economic recession. it fought for regulatory reform, a 1977 bill that weakened mortgage lending standards. the result of the new regulations acorn lobbied for

0:48:09 to 0:48:31( Edit History Discussion )

Trent Franks: was rated because they made good equitable lending, but rather they were rated based on the number of loans they made, regardless of the ability of the borrower to pay back the loan or to qualify for a loan in the first place. banks we hit with large fines if they refused to dole out

0:48:32 to 0:48:52( Edit History Discussion )

Trent Franks: these toxic loans, the majority of which they knew would not be repaid. if they still resisted the government's mandate, acorn would picture them or threaten to hit these banks with lawsuits to force them to comply. mr. speaker, although the mainstream media has been silent on the ties between acorn and president obama, it was actually during this time in the early

0:48:53 to 0:49:13( Edit History Discussion )

Trent Franks: part of president obama's career when he was working with acorn that president obama was part of the lawsuit to force city bank to abandon its time tested lending standards and disburse millions and millions of dollars in high-risk loans. his name is listed on the records of the lawsuits.

0:49:14 to 0:49:36( Edit History Discussion )

Trent Franks: president obama played a significant role in helping to shape the did he backle that caused america's recent and oning economic crisis. the result of the lawsuit filed has been that millions of dollars in toxic loans were made as a result of acorn and its subsidiaries using the

0:49:37 to 0:49:57( Edit History Discussion )

Trent Franks: regulations to bludgeon america's financial institutions into making loans that they other wise would not have made. they were packaged and resold on wall street and the entire system began to crumble. if those original loans, mr. speaker, that were sold to wall street had been made under the traditional, financially sound

0:49:58 to 0:50:18( Edit History Discussion )

Trent Franks: practices based on income, down payments and credit histories rather than the politically correct and financially fatal criteria that barack obama sought to achieve, the meltdown might have been avoited. how many americans know that, mr. speaker? how many americans are aware

0:50:19 to 0:50:40( Edit History Discussion )

Trent Franks: that the role that acorn and barack obama played in creating the housing and financial cris? mr. speaker, the ironic reality now is that president barack obama is putting the schizophrenic position of signing a bill to defund the very organization that helped launch his career and helped get

0:50:41 to 0:51:03( Edit History Discussion )

Trent Franks: him elected and the silence from the obama administration on the acorn issue has be unbelievable, mr. speaker. the obama administration, liberal democrats in congress now have a choice. they can take a sincere stand by launching investigations int acorn and work with republicans to pass and defund acorn and to stop all federal funding for

0:51:04 to 0:51:05( Edit History Discussion )

Trent Franks: acorn or they can throw their