Of all the factors behind the collapse of America's financial institutions during the second half of 2008, few have been as trumpeted - or misunderstood - as the Community Reinvestment Act (CRA). This Carter-era legislation, intended to boost residential mortgage lending in lower-income urban neighborhoods, increasingly has served as a blank check for community groups to shake down depository institutions into lowering their credit standards to reach marginally qualified borrowers. In extracting such concessions, these groups have contributed to the ongoing explosion in loan defaults and foreclosures. Undaunted, House Democrats, led by Rep. Eddie Bernice Johnson, D-Tex., are proposing to make the CRA even more aggressive in rooting out "redlining," the practice by which mortgage lenders allegedly refuse to extend credit to low-income and often nonwhite minority neighborhoods.
It is time for former House Speaker Newt Gingrich to end his association with Al Sharpton. The two have been appearing together around the country as part of something called the Education Equality Project.
As Dr. Carl Horowitz of our staff has documented in a Special Report released earlier this year, Sharpton has promoted fake hate crimes against blacks, and has inspired racial antagonism against whites and Jews. Indeed, this long-established pattern of behavior continues to the present.
Emailers protesting Wal-Mart support for Al Sharpton’s group, the National Action Network, are getting the following response:
Walmart supports the National Action Network (NAN) as part of an ongoing effort to partner with national organizations that support issues and initiatives of importance to our customers, and the communities we serve.
Our support for NAN is focused on addressing health and wellness issues and other issues important to our customers and associates. Our company will continue to support organizations that can further our mission to help people live better.
Al Sharpton’s platform for his assault on Rush Limbaugh’s NFL ownership bid was the National Action Network (NAN), which is bankrolled by corporate America.
The following companies were identified this year by NAN as “sponsors”: American Honda, Anheuser Busch, Colgate-Palmolive, Comcast, Entergy, Ford Motor Company, Home Depot, Johnson & Johnson, Macy’s, PepsiCo, Pfizer and Wal-Mart. Sponsorship reportedly cost $50,000.
NLPC is asking these companies to end their support for Sharpton and NAN. Here’s how to contact them:
I am not sure why Rush Limbaugh would want to own an NFL team. It is surely more fun to criticize the establishment on a daily basis than to become part of it. Leaving that aside, the last person in the world who should have a say in the matter is Al Sharpton. (The next to last is his mentor Jesse Jackson.)
Sharpton has written a letter to NFL Commissioner Roger Goodell saying the NFL should reject Limbaugh’s bid. Yesterday the New York Times actually referred to Sharpton’s group, the National Action Network, as “a civil rights organization,” demonstrating the legitimacy that Sharpton has somehow come to enjoy in recent years. Let’s see if Goodell will further elevate Sharpton’s stature by responding in a serious way.
Imagine an America in which employers faced steep fines for failing to interview a sufficient number of minority candidates for a vacant management slot prior to making a hiring decision. Even in this day and age, where Diversity rules, that might seem a far-fetched scenario. Yet for the last half-dozen years, this has been the way the National Football League has operated. And its advocates are seeking ways to expand this regime to a variety of venues - and with a strong assist from government.