| |
|
| |
|
 |
|
| |
|
| |
CRC HighlightACORN Receives Nearly $3 Million from Bank of America
Washington, DC – It’s been widely reported that the Bank of America Foundation has given nearly $2 million dollars to the community organizing group ACORN that is currently under federal investigation. But digging deeper, the conservative watchdog Capital Research Center (CRC) shows 28 grants to the community organizing group amounted to $2.9 million since 2005.
“Bank of America owes American tax payers an answer to the following question,” said Terrence Scanlon, President of the Capital Research Center. “How can funds be given away to a radical political organization that is under federal investigation and then it has the audacity to get in line for TARP funds?”
CRC research found over $2 million worth of grants went to the ACORN Housing Corporation in politically powerful Philadelphia – a key battleground during the 2008 election. But, the brotherly love didn’t stop there. The ACORN Housing Corporation in Las Vegas hit the jack pot with a $740,000 payout, the largest of all grants given to the group by the Bank of America Foundation. The Las Vegas office of ACORN was raided by federal authorities in October of last year on suspicion of voter registration fraud when the group submitted voter registration affidavits with the names of the Dallas Cowboys football team.
Capital Research Center uses databases and tracks tax returns to find out the income and donations to and from various charitable entities. There has been much chatter in conservative circles about ACORN receiving $2 million for Bank of America Foundation. When CRC verified if this was true, they found the $2 million figure to be incorrect, and that ACORN was actually the recipient of nearly $3 million in donations from the Bank of America Foundation.
Now, with $20 billion in TARP funds scheduled to bailout the mega-bank’s coffers, conservatives are questioning the wisdom as to why tax payer money needs to bail out a group that has spent so frivolously on political correctness.
ACORN’s public relations tactics have been well-chronicled by the Capital Research Center. The group has led and helped stage 1960s-style sit-ins at local banks, forcing them to make a choice between bad public relations or doling out sub-prime loans to those who couldn’t afford them.
“This is the type of behavior that is at the root of our nation’s fiscal crisis,” said Scanlon. “I hope Congress and American taxpayers are as outraged about this as they were about Merrill Lynch’s then CEO John Thain’s million dollar office renovation.”
To see the allocation of grants from Bank of America to ACORN, you can go to CRC’s blog at www.capitalresearch.org/blog.
For more information about the Capital Research Center or to schedule an interview with one of CRC’s analysts, please contact Larry Farnsworth of Crosby-Volmer International Communications at (202) 232-6574 or at lfarnsworth@crosbyvolmer.com.
| |
|
Organizations featured in this item:
|
|
| |
|
|
No organizations featured in this item.
|
|
|
|
| |
|
| |
|
| |
|
 |
| |
|
|
