Money from lawsuit settlements is now going to leftist activist/agitator political groups thanks to the Department of Justice. This can’t be legal but it’s happening anyway.
Th DoJ has been busy trumping up charges and lawsuits against the alleged fraudulent money lenders from the 2008 housing bubble and it has been non-stop since Obama came into office. Money lenders, guilty or not, just make the deals to avoid costly lawsuits with the all-powerful government.
Settlements have involved donations to DoJ favored leftist groups.
This is the government that gives Stimulus money, Obamacare money, grants from every agency to radical left-wing groups.
Two recent settlements with Citigroup and Bank of America serve as examples
Citigroup agreed to donate at least $50 million to “community organizing” groups including NeighborWorks and La Raza and for every dollar above that, the bank gets two dollars knocked off its total settlement sum of $2.5 billion. With Bank of America, the settlement calls for a $100 million contribution to housing-related groups and, again, a two-for-one reduction for donations to community organizing groups.
It’s another form of sue & settle from a brilliant and deceitful Alinsky-ite administration. The end goal is collectivism for all.
House Judiciary Committee Chairman Rep. Robert Goodlatte and Financial Services Committee Chairman Jeb Hensarling have been looking into these settlements. Rep. Goodlatte is quoted as saying “It seems that the alleged victims are not the primary beneficiaries of these multi-billion dollar settlements. Instead, the terms … look less like consumer relief and more like a scheme to funnel money to politically favored interest groups.”
The lawless DoJ does whatever it wants and it’s only now that it’s being talked about. The banks settling is really the result of extortion by the DoJ.
JP Morgan Chase was one of the first.
The 2008 economic collapse was used by the Obama Administration to rob JP Morgan Chase (among many others since), a private corporation, of earned profits so the government could redistribute the money to their favored constituents.
The DOJ forced a $13 billion dollar settlement on JP Morgan Chase investors, investors that include retirement funds for unions, seniors, and other average working people.
The settlement created a very different relationship between government and private corporations, with the government put in the position of being able to trump up charges and then demand money in compensation.
The government now has the right to steal private property under the guise of fines, retribution, and criminal prosecution.
JP Morgan settled and an astounding $4 billion of the $13 billion was to be redistributed to people with underwater homes and to people facing foreclosure, to be doled out by far-left organizations.
None of the money went back to the people who originally lost money.
Any remaining funds went to a far-left ACORN-type organization – NeighborWorks of America.
Money lenders have become piggy banks for leftist groups.
The Wall Street Journal wrote in December 2013: The JPMorgan settlement “needs to be understood as a watershed moment in American capitalism. Federal law enforcers are confiscating roughly half of a company’s annual earnings for no other reason than because they can and because they want to appease their left-wing populist allies.”
Judge Napolitano explains: