August 28, 2014

Consigliere Eric Holder cuts in Left-wing groups in $17 billion deal [Darleen Click]

obamacrats_smlGodfather Obama makes good on rewarding cronies.

Radical Democrat activist groups stand to collect millions from Attorney General Eric Holder’s record $17 billion deal to settle alleged mortgage abuse charges against Bank of America.

Buried in the fine print of the deal, which includes $7 billion in soft-dollar consumer relief, are a raft of political payoffs to Obama constituency groups. In effect, the government has ordered the nation’s largest bank to create a massive slush fund for Democrat special interests.

Besides requiring billions in debt forgiveness payments to delinquent borrowers in Cleveland, Atlanta, Philadelphia, Oakland, Detroit, Chicago and other Democrat strongholds — and up to $500 million to cover personal taxes owed on those checks — the deal requires BofA to make billions in new loans, while also building affordable low-income rental housing in those areas.

If there are leftover funds in four years, the settlement stipulates the money will go to Interest on Lawyers’ Trust Account (IOLTA) […]

According to the list provided by Justice, those groups include come of the most radical bank shakedown organizations in the country, including:

• La Raza, which pressures banks to expand their credit box to qualify more low-income Latino immigrants for home loans;

• National Community Reinvestment Coalition, Washington’s most aggressive lobbyist for the disastrous Community Reinvestment Act;

• Neighborhood Assistance Corporation of America, whose director calls himself a “bank terrorist;”

• Operation Hope, a South Central Los Angeles group that’s pressuring banks to make “dignity mortgages” for deadbeats.

Worse, one group eligible for BofA slush funds is a spin-off of Acorn Housing’s branch in New York.

It’s now rebranded as Mutual Housing Association of New York, or MHANY. HUD lists MHANY’s contact as Ismene Speliotis, who previously served as New York director of Acorn Housing.

The recession has dried up funding for such groups. But Holder’s massive bank shakedown could rebuild their war chests in a hurry.

He’s written back-door funding for Democrat groups into other major bank deals he’s brokered, including the $13 billion JPMorgan Chase settlement and the $7 billion Citibank deal. They stand to reap millions more from those deals.

Posted by Darleen @ 8:32am

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Comments (35)

  1. Thanks, Darleen! I was wondering what was up with that additional shake-down.

    Poor Bank of America. But then again, anyway who goes through business with “They’re my friends! And political allies! I can trust that they’ll back me up when I take the fall!” kinda deserves what they get.

    Wake up America, what the hell, etc.

  2. (William – just curious, is that a Keeshond puppy in your avatar?)

  3. Sorry, Steph, I just grabbed it from the internet somewhere a while back. No idea where it came from, though I’m sure someone here will be able to tell you.

  4. Everytime I start thinking I’m turning into a paranoid conspiracy freak, I found out I’m not paranoid enough.

  5. Hey Ernst, maybe this would be a good place to relink that Paul Rahe piece about the Godfather, friendship and the republic? Or, in an alternative to that, possibly Richard Reinsch’s recent Return to the Barbaric.

  6. At least we know we’re not paranoid enough, Ernst. Helps us not get paralyzed.

  7. I would say it a criminal organization disguised as a political party but, I believe that has already been said.

  8. Cliff Notes version

    Do note that the relationship is now inverted The people who’ve reject America in order to whore after foreign ideologies are the one’s who happen to be running it.

  9. I’m not paranoid enough.

    Department of Justice attorneys for the Internal Revenue Service told Judicial Watch on Friday that Lois Lerner’s emails, indeed all government computer records, are backed up by the federal government in case of a government-wide catastrophe. The Obama administration attorneys said that this back-up system would be too onerous to search.

    I always wanted an expensive, comprehensive, backup system that was completely useless to use as a backup.

  10. Please to be welcome to USSA, comrade.

  11. Also, Geoff, the Obama administration is a government-wide catastrophe.

  12. The Republicans are crazy if they think they can tame this beast. The smartest thing they can do is to kill it before it decides to eat them.

  13. The e-mails will show up when Obama is out of office and everyone wants to move on. Winning!

  14. The establicans don’t want to tame the beast, they simply want to ride it for a while, in the least so that they can be first in line to get their snouts in the trough .

  15. in case of a government-wide catastrophe.

    Ain’t that funny!

    Oh, we’ve had a government-wide catastrophe all right. It’s just that it didn’t arise from the quarters which had been expected, like a foreign enemy or Yellowstone super-volcano blowing the western states away and covering the mid-continent states in ash. Nope. It came from the inside.

  16. The beast won’t be ridden by a Republican. That’s what they don’t understand.

  17. I always wanted an expensive, comprehensive, backup system that was completely useless to use as a backup.

    It comes with Windows 8.

  18. this post could be conjoined with what fagmerica is doing on fedex i think

    what a shitty little country to do business in

    we need an underground railroad to help businesses flee to canada

    I have a fold-out couch if it helps

  19. if i move it’s going to the curb

    i buy me a daybed when i find a new place to hang my hat

  20. what type of hat do you hang?

  21. ballcap mostly

    i never had me a cowboy hat an i don’t know what happened to my daddy’s but he had a big head on him that man did

    he also had one of the russian raisa gorbachev mink hats I bet we let little brother have, him living in minnesota and all

  22. >ballcap mostly<

    the patter of feet suggests fedora but i stand corrected

  23. ok yeah well yeah dad had a fedora too

    that was that one hat with the feather

    fuck if i know what happened to that one

  24. i’m not the fucking hat manager you know

  25. does the “is is” hang hats? is it koranic?

  26. does the “is is” do humanitarian slaughter of infidels ? proggslims want to know.

  27. fuck koranic i want me some boots if I’m a head up to the illinois tundra

    and when you want boots you go to texas

  28. >if I’m a head up to the illinois tundra<

    stay small in barackyland.

  29. When I want boots I go to Roopville. Or Acworth.

    I went to Acworth today but all I got was shoes. And ammo for one of the guns I lost in that hard drive crash. But that’s because I needed shoes for in between what I need steel toes for and what I want cowboy boots for, since I already have boots.

    But I’ll have new boots eventually, because the finish is coming off this pair.

  30. I went to bootbarn for my Ariats.

    And anyways, that’s not the best boot for the tundra, what with the salt and sand and snowmelt.

    You want Sorrells. The really big ones.

  31. Heh. Years ago I drove to Tahoe for a day wearing cowboy boots, with no other footwear in the car. In February.

    That was fun.

  32. Holder to people and businesses in Ferguson MO. “Now would be a good time to move elsewhere.”