“For example, Bank of America skirted $194 million off its $16.65 billion dollar settlement by giving nonprofits just $84 million in donations, the Examiner reports. Among those groups receiving the funding were Hispanic civil rights council, the National Urban League, and the Neighborhood Assistance Corporation of America.
Other liberal organizations to receive the consumer relief funds (intended to go directly to the victims of fraud or mismanagement) include: the National Community Reinvestment Coalition, La Raza, and many others, the Journal reports. One of the many problems with this practice is that many of these groups are heavily involved in voter drives, community building and organizing, and “lobbying on liberal policy priorities at every level of government,” according to the Journal.”
First of all, let’s be honest, the whole financial crisis and mortgage industry meltdown resulted from the insidious 1978 progressive socialist policy called the Community Reinvestment Act, courtesy of Jimmy Carter. And it was left wing community organizing groups that pressured banks into giving loans that were truly going to fail.
The federal government started the whole crisis that ended up in subprime mortgages and the practice of mortgage-backed securities was indeed a nefarious means for banks to profit off something they knew to be a failure.
However, it was the government incursion into the mortgage industry — basically nationalizing the industry on the backs of the American taxpayer – via the rise of Fannie Mae and Freddie Mac along with the repeal of the Glass-Steagall Act ending the separation between commercial and investment banking that fueled the 2008 collapse. But this practice by the Obama administration is reflective of good ol’ Al Capone Chicago-style politics — after all Obama did state back in 2008 after his election that “Chicago is coming to D.C.”
Now, boys and girls, put on your thinking caps and ask yourself, what if this were a GOP presidential administration that was “shaking down” banks and funneling dollars to conservative organizations — Tea Party, Numbers USA, Think Tanks, or you name it. Yes, you know the left and the liberal progressive media would be going apoplectic – in other words, stark raving mad.
This story, if about Republicans, would be plastered all over the liberal progressive media, front page, top story for days, months — you know, Abu Gharaib style. But let’s see how much coverage this story gets on ABC, CBS, NBC, MSNBC, CNN, PBS, or any liberal print media. And if they do, it will be buried, and maybe you’ll hear a one-minute sound bite on broadcast news.
Bottom line, criminal activity is acceptable for the left – that’s just how they roll. Their declared lack of standards, decency and character preclude them from being held accountable — you know, what difference at this point does it make?
So get this, the left created a policy in 1978, the Community Reinvestment Act. They forced banks to abide by the policy under punishment of fines or legal action. The banks did what the government said and sought to make a profit — you know, that free market concept.
The government created agencies and strengthened them in order to implement their original policy. The practice of crony capitalism resulted in an impending collapse. But government blamed it all on the banks, who were threatened into following their policy. The government demonized the banks and imposed fines on them. Then the government shakes down the banks to fund their ideological agenda in order to have their fines reduced. Remember ACORN and its role in getting Obama elected? Doggone, what a great racket huh? No wonder D.C. is considered a cesspool, and in all of this, the folks who were misled got no relief.
And you know what’s funny? The government is back at it again — many of those original policies that got us into the mortgage crisis are being reinstated.
There you have it, and it cannot be debated, the Obama administration will go down as the largest criminal organization in our history. And I didn’t even mention the IRS intimidation scandal. I didn’t have time to address the VA scandal where many of our veterans have died. I didn’t want to bore y’all with the details of providing taxpayer funds in the form of grants to sanctuary cities. And you know what, Obama is from Chicago, and so is Hillary Clinton…you want more of this? Money laundering, lies, deceit, mishandling of classified information, sexual escapades and intrigue, financial indiscretions….
Sometimes we get the government we deserve — a criminal organization.
