Thursday, June 2, 2011
Matthew Vadum Challenges ACORN on Their Role in the Financial Crisis
In his new book Subervsion Inc. Matthew Vadum accuses ACORN of intentionally targeting Wells Fargo with demonstrations, harrassment, phony studies and lawsuits on behalf of their paymaster Herb and Marion Sandler who contributed more than $11 million to ACORN. On Fox News Vadum debates a representative of ACORN.
The Sandlers were the former owners of Golden West (World Savings) which had more than $100 billion in toxic payment option ARMs on its books when they sold the company to Wachovia in 2006. The toxic mortgages helped sink Wachovia during the financial crisis and Wells Fargo acquired Wachovia in 2008.