Backdoor Funding?

" All right do you remember I told you that this government was gonna find a way to get away. From -- funding acorn area around that I Saddam gets excited. Community organization group that has been tainted by numerous scandals or sell they tell me. Have they found a back -- way to fund them well. Believer -- after October 31. Acorn. Did start getting funds again. He kept that span. They were serious. From August all the way to the end of October I think they learned their lesson. And thanks to Barney Frank they could get an even bigger boost for the expansion of the community reinvestment act. Act HR 1479. For those of you who. -- those things by numbers as you may remember or not the CRA the community reinvestment act. Is the thing that makes bed and banks lend it money to people they don't want to loan money to because. They have very low income and their most likely to go under. It's often cited as one of the chief causes of the sub prime mortgage meltdown but. Washington has learned their lesson and they want to expand it. Blocked there's also really good news from Minnesota congresswoman Michelle Bachmann. Now congresswoman -- I don't great glad thanks for having me ask could you broke some news this morning on my radio program about acorn and I. I find this absolutely incredible. -- until tell the American people what they've already been doing and what the expansion of this CRA thing means."

" Well it's stunning Glenn just as you said the community breast and -- community reinvestment act is a creation of the federal government. Forcing private banks to make home mortgages to people who are very poor credit risk no bank wants to do that -- of the federal government in effect threatens banks and says we're because we're gonna closed down near interstate bank or we won't let -- expand. Unless he'll make these bad loans to people are make loans that are unlikely to get repaid OK why would they wanna do that."

" OK and this is -- Not only is the federal government saying that if you won't make loans to these people that that shouldn't have loans. Then if you don't make loans to them we're not gonna let your bank. Expand we won't be you know let two going to other areas in states tetra -- But also you have the other element. Which is the what -- Barack Obama say the -- the actual coalitions of power including the community organizing. They also send -- now so you've got the PR nightmare for the bank and the federal government breathing down but. The federal government in their great wisdom. Has given these banks and out over the years that's."

" Right that's right they have a they have told banks in order to get out positive community reinvestment act rating. And yet to get a good breeding from the regulator sure banks were able to get either cash gifts to acorn. Or -- Clinton gets an in kind donation or partner with acorn to make these loans to people in the community. So -- instead of making I'll grant loans to people -- poor credit where credit risk could give money to it -- corn. In order to get this positive -- at community reinvestment act rating. And we've uncovered data. Banks all across the country. That may be -- the gifts of money to acorn equipment guests are partnered with acorn. In order to get a good breeding so they get out from under the radar screen of the federal government in other words so they don't get there interstate. Branch bank shut down or so that they can expand."

" Michelle -- you're one of the truth tellers and by the way when you see Lindsey Graham who don't know me. He says I don't speak for the Republican Party thing got to. You just give him a big. Guy will yet -- I loved him."

" Well I think the other part is that I am one of the chief targets of cheap. Speaker Pelosi for defeat next year."

" Now no -- ever thought to yourself and your little bad about yourself. Be better off if I wasn't in Washington."

" Well sometimes you think that but then I'd have to look at my five kids are 23 Foster kids that we raised -- realize. I have to hand the baton of freedom off to them. I have to look at myself in the mirror and ask myself. Did I do everything I could possibly do to make sure our country's stays free under our declaration of independence the constitution."

" Michelle thank you for being one of the actual Republicans that are fighting for values I appreciate it. And by the way if there's any where -- Democrats that are fighting for those things we'd love to have them on as well maybe some of the Marie founders but oops I can tell you their name."