As you read on, you'll find evidence that a Times reporter knew of (and was alarmed by) a $1.5 million loan/grant that Brooklyn-based FCR gave last August to ACORN, the Association of Community Organizations for Reform Now, which had suffered severe cash flow difficulties in the wake of an embezzlement scandal.

This is incredible, reporter Stephanie Strom wrote after learning that the deal was allegedly approved without ACORN board's assent, adding that an explanation given to her doesn't hold water.

In doing so, FCR has helped bail out an organization reeling from the revelations that not only did the brother of ACORN's founder embezzle nearly $1 million in 2000 but also, as the Times reported 9/10/08, that the news was concealed by senior executives until a whistle-blower told a foundation leader about it in May.

Also, as the Times reported 10/22/08, ACORN's budget has been suffering, as it apparently owes taxes to federal and state authorities while foundations that previously supported the organization have backed off. Meanwhile, two board members, both members of a committee established to lead ACORN through its turmoil, have sued the organization, charging that ACORN was destroying financial documents and covering up improper expenditures.

The Times chose not to report on that crucial loan. But that FCR-ACORN relationship remains worthy of sunlight, given the crucial partnership between FCR and ACORN's New York affiliate in the enormously controversial Atlantic Yards project in Brooklyn.

ACORN on 5/17/05 signed a Housing Memorandum of Understanding (MOU) that promised 2250 units of affordable housing in the project, which Lewis considered a huge victory. In exchange, ACORN agreed to publicly back the project--and has continued to do so, despite many reasons to doubt FCR's promises.

How frequently does a controversial real estate developer, who does its work regionally, bail out a struggling national activist organization, one which saw contributions decline and faced a major tax bill--after the revelation that Dale Rathke, the brother of longtime chief organizer Wade Rathke, embezzled nearly $1 million? More here