Obama Administration ‘Funneled Slush Money to Leftist Orgs’

After the the subprime mortgage market blew up in 2008 and the somehow unexpected fall out sparked the most severe financial crisis the world had seen since the Great Depression, Big Government went after the Big Banks for alleged wrongdoing and collected billions in penalties.

It turns out, according to reporting by the Daily Wire, that Obama’s Justice Department forced the slush fund money to radical leftist organizations, instead of to the alleged victims of Wall Street profiteering.

“On Tuesday, House Financial Services Committee Chairman Rep. Bob Goodlatte (R-VA) revealed that documents obtained in a separate, ongoing investigation show that former President Barack Obama’s administration directed money intended for victims of Wall Street mortgage meddling to progressive activist organizations who now form much of the “resistance” to President Donald Trump.

Members of the House Judiciary Committee mentioned several weeks ago that they suspected Obama’s Department of Justice had iced out conservative organizations looking for their share of the more than $1 billion legal settlement the DOJ collected from “big banks” who’d played a part in the housing crisis of the late 2000s. The DOJ required banks included in the settlement agreement to make “mandatory donations” to non-profits working on housing and property rights policies.”

So, Obama and the Democrats in his administration were so concerned about the purported injustices of Big Banks that they forced the penalty funds into their pet activism projects and blackballed any otherwise qualified organizations. Got it.

“On Tuesday, House Financial Services Committee Chairman Rep. Bob Goodlatte (R-VA) revealed that documents obtained in a separate, ongoing investigation show that former President Barack Obama’s administration directed money intended for victims of Wall Street mortgage meddling to progressive activist organizations who now form much of the “resistance” to President Donald Trump.

Members of the House Judiciary Committee mentioned several weeks ago that they suspected Obama’s Department of Justice had iced out conservative organizations looking for their share of the more than $1 billion legal settlement the DOJ collected from “big banks” who’d played a part in the housing crisis of the late 2000s. The DOJ required banks included in the settlement agreement to make “mandatory donations” to non-profits working on housing and property rights policies.

[…]

This discovery contradicts sworn testimony from the DOJ’s Deputy Attorney General Geoffrey Graber, who told the Judiciary Committee in February that “the Department did not want to be in the business of picking and choosing which organization may or may not receive any funding under the agreement.””

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At least one Obama administration official apparently lied under oath, covering up their efforts to use the billions in bank penalties as a political slush fund to advance Leftist causes.

Underlying the whole episode was Big Government’s total charade that their policies of threatening banks who did not lend more mortgages to unqualified individuals in order to pump up home ownership and toot their own horns had nothing to do with the housing bubble and subsequent collapse.

Obama and the Establishment made banks the bogeyman, and Big Government the White Knight riding to the rescue, while covering up the reality that the only reason Big Banks were able to take advantage of unqualified debtors in the first place was because Big Government was forcing them too.

 

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