Leveraging Fannie and Freddie
… There is nothing new about capitalists “donating the rope” (as Lenin would say) to their avowed enemies. That’s how radical nonprofit networks such as Neighborhood Assistance Corporation of America (NACA), the Association of Community Organizations for Reform Now (ACORN), and the National Council of La Raza have become major players in policy-making. …
Such groups regularly employ (or threaten) boycotts, lawsuits and media campaigns to wring concessions from their corporate targets. Business leaders who donate funds may think they are buying peace. But this “feed the beast” strategy works only in the short run. …
NACA hasn’t been the only recipient. The Fannie Mae Foundation during the course of 1980-2007 contributed nearly $800,000 to ACORN Housing Corp. …