The Greenlining Institute: Does the financial crisis have its origins in Berkeley? · zomblog
If you’re truly curious about the roots of this financial crisis we find ourselves in, you need to take the time to read the blog found at the other end of the link listed above.
Here is the mission statement of The Greenlining Institute. It speaks volumes of the organizations intent
“The Greenlining Institute’s mission is to empower communities of color and other disadvantaged groups through multi-ethnic economic and leadership development, civil rights and anti-redlining activities.”
This is a good example of what “community organizers” do for a living. It seems that the actual purpose is to parade around as a modern day, politically correct Robin Hood.
Matthew Vadum nails the point more succinctly however.
Financial Affirmative Action
When the history of the Great Economic Meltdown of 2008 is written, in-your-face shakedown groups like the Greenlining Institute will be held to account.
Greenlining, headquartered in Berkeley, California (where else?), is a left-wing pressure group that threatens nasty public relations campaigns against lenders that refuse to kneel before its radical economic agenda. Its principal goal is to push politicians and the business community to facilitate “community reinvestment” in low-income and minority neighborhoods.
The Greenlining name is a play on the unlawful practice of “redlining.” That’s when financial institutions designate areas, typically those with a high concentration of racial minorities, as bad risks for home and commercial loans. The Institute wants banks to give a green light to loans in these areas instead.
Recently profiled by John Gizzi, Greenlining uses carrot-and-stick tactics to blackmail public agencies, banks, and philanthropists to achieve its objectives. The Institute brags it has threatened banks into making more than $2.4 trillion in loans in low-income communities.
These scumbags even have the audacity to say the following at the top of their “community reinvestment page”:
See for yourself, but be ready to throw up a little in your mouth:
Greenlining Community Reinvestment Page
They claim to do this through “holistic advocacy”. Wow… Translation: protests, demonstrations, threats, lawsuits, accusations of racism. Here is a list of what these thugs have done in just one year:
1) A 150 billion dollar CRA commitment by Wachovia for California.
(2) A 11.5 billion dollar CRA commitment by the mid-sized East West bank.
(3) A unique agreement with Rabobank (the giant Dutch bank) to turn San Joaquin farmworkers into farmowners and
(4) A CRA agreement with Merrill Lynch that will tap its innovative leadership for micro-enterprise, community development, small business lending and affordable housing.
Take careful note that the intent of this group of community organizers is to indentify lending institutions that have, in Greelinings eyes, failed to give out enough money to the “underserved” market segment of unqualified buyers.
Here is the part that should really scare you….
Here is how much Greenling has bragged about, as far as extorting lending institutions.
And remember how much our so called “leaders” are putting up in this bail out.
Greenlinging alone, claimes to have successfully obtained…
Wait for it…
$2.4 TRILLION in “CRA Commitments”…. (CRA = Community Reinvestment Act: The federal policy/program that has landed us in this position).
So… Now what do you think about what these criminals in Washington have enabled? Our so called leaders have enabled, and empowered an entire culture of entitlement. And whats worse is that they’ve given these parasites the force of law to steal, and redistribute wealth!
It is time to Throw The Bums Out.