The Obama-Ayers-ACORN-Bailout Connection
Barack Obama’s connection to Bill Ayers is important, not because Ayers once bombed U.S. buildings, but because the relationship demonstrates Obama’s personal involvement in events that led directly to the current financial crisis. The Obama-Ayers-ACORN relationship also supported and advanced other activities that many people might describe as anti-American.
The root cause of the current financial crisis is, unquestionably, the result of Fannie Mae’s and Freddie Mac’s purchase of too many mortgages issued to people who could not afford them. The default rate among these mortgages is the precise reason why nearly a trillion (with a T) dollars has been taken from taxpayers to bail out the institutions that bought the bad mortgages.
Bill Ayers played a key role in putting Barack Obama in a position to directly contribute to the explosion of bad mortgages issued to people who could not afford them. A little background is necessary, to put the current situation in context.