Why does ACORN support making loans to individuals who are low-income?
\nACORN believes in creating home-ownership opportunities for poor families. We believe that building home equity wealth is a stepping stone to the middle class, but we oppose predatory loans because they are likely to result in foreclosures and a loss of wealth.\n\n Recently, Sen. McCain released an ad that claimed, \”ACORN forced banks to make risky home loans, the same types of loans that caused the financial crisis.\” I took this as an invitation to look at what ACORN has done over the last decade and what McCain has done over the last decade, so I authored a report we released last week that compares our respective records in depth, available here (PDF). Teaser: ACORN presciently warned over and over again of an impending crisis and fought tooth and nail against risky loans, while McCain was a deregulator.\n \n\n Critics have also said ACORN will profit from the $700 billion bailout recently passed by Congress. Will ACORN get any of the money? \nThis was an especially funny GOP li
