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More Tax Dollars for the Self-Proclaimed Bank Terrorist
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Last year, I introduced you to self-proclaimed bank terrorist and housing entitlement shakedown artist Bruce Marks of the Neighborhood Assistance Corporation of America (NACA). Reminder:

Over the years, as part of his permanent campaign to browbeat banks into giving fair loans to low- and moderate-income people, Marks and his yellow-T-shirted followers have swarmed shareholders’ meetings with enough force to shut them down. They have picketed outside the schools attended by the children of bank CEOs, pressing the youngsters in signs and chants to answer for the actions of their daddies. And they even once distributed scandal sheets to every house in one CEO’s neighborhood, detailing the affair he was allegedly having with a subordinate. In time, that CEO, like most of the others that NACA targeted, sat down with Marks and signed a deal.

To those who found his tactics an outrageous invasion of bank executives’ personal lives, Marks refused to acknowledge any line between home and work. “What you do is who you are,” he says. “It’s all personal.”

In January, I reported on how NACA and other housing entitlement mobsters stood to benefit from the stimulus windfall.

NACA continues to rake in public funds. This time, the taxpayers of North Carolina are on the hook:

N.C. Commerce Secretary Keith Crisco said Tuesday the state will honor its commitment to provide $3.5 million in incentives to a nonprofit group that helps struggling homeowners, settling a mix-up that emerged last week.

Neighborhood Assistance Corporation of America chief executive Bruce Marks also announced plans to double the number of workers he expects to hire in Charlotte to about 2,000 by the end of next year…

…The Observer reported last week that the state had promised NACA a total of $2.5 million in on-the-job training assistance in June, but last week officials said $1 million was the appropriate amount. At the time, Crisco said he had mistakenly extrapolated an early estimate of the grant amount.

On Tuesday, Crisco said the mechanics for the grant were still being worked out last week. At the time, the state didn’t have the funding figured out, but now it does, he said. “We live up to our word,” he said.

NACA still needs to finalize details with the Charlotte-Mecklenburg work force board, but Crisco said he expects the group to qualify for the $2.5 million over three years. “Everything is great,” Marks said of the talks with the state.

NACA is growing as the nation struggles with a rise in foreclosures following the subprime boom in the 1990s and early this decade that left homeowners with unaffordable mortgages. In the recession, homeowners are also struggling with job losses.

According to a 2007 filing with the IRS, NACA had revenues of about $9.4 million, and expenses of $6.7 million. Now Marks says the group has a budget of around $45 million, which includes government funding for its counseling.

More taxpayer funding for banking terrorism and bullying racketeers. Life is grand for left-wing thugs.

(Republished from by permission of author or representative)
• Category: Ideology • Tags: Subprime crisis