HomeFairfax General ForumArrest/Ticket SearchWiki newPictures/VideosChatArticlesLinksAbout
Off-Topic :  Fairfax Underground fairfax underground logo
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Bank of America settlement funds to be funneled to Democratic activist groups including La Raza
Posted by: Fair Share ()
Date: August 28, 2014 06:32PM

Holder Cut Left-Wing Groups In On $17 Billion BofA Deal

Posted 08/27/2014 06:43 PM ET


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), which provides legal aid for the poor and supports left-wing causes, and NeighborWorks of America, which provides affordable housing and funds a national network of left-wing community organizers operating in the mold of Acorn.

In fact, in 2008 and 2009, NeighborWorks awarded a whopping $25 million to Acorn Housing.

In 2011 alone, NeighborWorks shelled out $35 million in "affordable housing grants" to 115 such groups, according to its website. Recipients included the radical Affordable Housing Alliance, which pressures banks to make high-risk loans in low-income neighborhoods and which happens to be the former employer of HUD's chief "fair housing" enforcer.

BofA gets extra credit if it makes at least $100 million in direct donations to IOLTA and housing activist groups approved by HUD.

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.

http://news.investors.com/ibd-editorials/082714-715046-holders-bank-of-america-settlement-includes-payoffs-to-democrat-groups.htm?p=full%20

Options: ReplyQuote
Re: Bank of America settlement funds to be funneled to Democratic activist groups including La Raza
Posted by: Hrundi V Bakshi ()
Date: August 28, 2014 07:05PM

I want to know how a bank gets hit with a $17 BILLION fine and can still be in business?

How much fucking money does B of A have anyway?

Options: ReplyQuote
Re: Bank of America settlement funds to be funneled to Democratic activist groups including La Raza
Posted by: Vexxxed ()
Date: August 28, 2014 07:06PM

Hrundi V Bakshi Wrote:
-------------------------------------------------------
> I want to know how a bank gets hit with a $17
> BILLION fine and can still be in business?
>
> How much fucking money does B of A have anyway?


Almost all of it.

Options: ReplyQuote
Re: Bank of America settlement funds to be funneled to Democratic activist groups including La Raza
Posted by: phcM7 ()
Date: August 28, 2014 09:20PM

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.

aha but that's not political it was a court decision ?

-----------------
i keep saying bring back the death penalty for corrupt judges

if proven - targeting "relief" for illegals and blacks to further pad their pockets (they've printed enough money on fed press and fed paychecks)

i'd say death penalty - treason

$9 billion is more than enough to absolutely wreck and level, kill and impoverish, an sizeable United States Of America town

Options: ReplyQuote


Your Name: 
Your Email (Optional): 
Subject: 
Attach a file
  • No file can be larger than 75 MB
  • All files together cannot be larger than 300 MB
  • 30 more file(s) can be attached to this message
Spam prevention:
Please, enter the code that you see below in the input field. This is for blocking bots that try to post this form automatically.
 **         **    **  ********   ********         ** 
 **    **   ***   **  **     **  **     **        ** 
 **    **   ****  **  **     **  **     **        ** 
 **    **   ** ** **  ********   **     **        ** 
 *********  **  ****  **         **     **  **    ** 
       **   **   ***  **         **     **  **    ** 
       **   **    **  **         ********    ******  
This forum powered by Phorum.