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Why Does Citigroup Fund Groups That Hate Freedom?

November 20, 2009

Citigroup CEO Vikram Pandit thinks giving money to groups that hate capitalism is a great idea.

Should Citigroup, a recipient of U.S. government aid, be giving tax dollars to any political group, especially one as notorious as ACORN?

And as evidence continues to pile up showing ACORN’s criminal proclivities, why is Citigroup CEO Vikram Pandit actually considering restoring funding for ACORN?

Pandit said his company is awaiting an ACORN-sponsored inquiry into the group’s corruption that was prompted by the emergence this fall of several hidden-camera videos. The videos show ACORN employees eager to help a couple posing as a pimp and prostitute open up a brothel using government funding.

“We, as a company, would like to see that report,” said Pandit. Asked if he could envising Citigroup permanently cutting financial ties with ACORN, Pandit said it “completely depends” on the outcome of the report, reports the Boston Herald.

Citigroup’s charitable foundation has given ACORN affiliates more than $1 million since 2003. It’s also funded other left-wing groups including Jesse Jackson‘s Rainbow/PUSH Coalition, World Resources Institute, Aspen Institute, Rainforest Alliance, and the Council on Foreign Relations.

Another Citigroup executive, Eric Eve, has indicated through his actions that he has no belief that  ACORN has the ability to reform itself . Eve (pictured below) resigned from the ACORN Advisory Council, a phony, allegedly independent panel that is supposed to suggest ways to reform the incorrigible group.

Eve’s departure removes one of the few people on the panel who could even remotely claim to actually be independent.

Meanwhile, another hidden-camera video has surfaced that shows ACORN employees behaving badly. The footage, shot at ACORN’s Los Angeles office, involves ACORN’s usual activities such as child prostitution, money laundering, and the like.

Just another day at the office for ACORN.

  1. John Davidson permalink
    November 20, 2009 9:43 am

    Financial intitutions make a lot of money recycling loans to those the government gives money too.

  2. David Forsmark permalink
    November 20, 2009 8:05 pm

    Because thanks to the Community Reinvestment Act, groups like ACORN and Operation PUSH actually have a heckler’s veto over banking practices. The federal government actually has established a system of extortion on banks from “community organizers.”

    • John Davidson permalink
      November 21, 2009 6:05 am

      I call it legalized embezzlement.

      • peachey permalink
        November 21, 2009 3:38 pm

        Actually John, through the complexities of the CRA, banks were also give the option of donating directly to the community program itself. When this was disclosed on the Glenn Beck show I had no doubt that the intent was to fund ACORN and other Lefty organizations in every way possible. If they did not get in to the loan business, the banks could channel the money directly to ACORN and still hold on to their FDIC membership status. I call that extortion and fraud. I wonder which lawyers came up with this unique way of stealing from the taxpayer and channeling money to the community groups that then turn around and fund the DNC political causes.

  3. David Forsmark permalink
    November 20, 2009 8:07 pm

    In fact…

    Obama not only was one of the Senate’s top recipients of Freddie and Fannie campaign donations, but also, as a young ACORN attorney, sued Citibank for declining the mortgage of a black woman who had bad credit. The case generated $1 million in attorney fees.

  4. Jonathan permalink
    November 21, 2009 6:34 am


    Citigroup got the bailout. Now they work for the Obama Adminstration. Who does Obama love?

    Citigroup is also massively owned by the Saudis. See a connection there?

    Here’s a question for you. Why are the very engines of capitalism – the World Bank, the IMF and the central banks of the world – run by socialists and communists?

  5. November 21, 2009 10:06 am

    Its a problem, but banks rule. Like banks, every science relies on math, you just can not do much ( or anything) without math. You cannot do much without banks. The regulators are sleeping or they are regulating other businesses.
    Here is what has evolved.

    Bank gets trouble ( maybe greed, maybe bad decisions).
    Bank needs help. ( Have to help-too big to fail)
    Bank gets bailout.
    Bank become profitable.
    Banks puts money aside. ( for bonuses)
    Banks give bonuses.

    • John Davidson permalink
      November 21, 2009 12:53 pm

      No kickbacks to the government?

  6. Mort permalink
    November 23, 2009 5:34 am

    Look no further than the head of Community Relations at Citigroup: Lisa Caputo of the Hillary East Wing

  7. Will Marshall permalink
    November 30, 2009 5:13 pm

    It is federal statute-protected money laundering. Get used to it. It has been around a long time time and each time the federal budget swells, the list of recipients grows.

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