Jazz Shaw
Hot Air
12/7/2013
The government has quite the tidy little deal going in terms of getting money out of large banking interests lately. The latest example was the $13B dollar “settlement” reached with JP Morgan, which certainly must have taught them a thing or two. But some observers have been digging into the details of the deal and finding that it might be even sweeter for certain progressive interest groups than anyone had previously imagined. Rather than simply settling for the smug satisfaction of seeing some Wall Street Fat Cats get taken down a peg or two, how about getting your hands on some of the cash yourself?
It seems Attorney General Eric Holder has created a multi-million dollar backdoor kickback for activist groups in the $13 billion JP Morgan Chase subprime loan deal recently settled, WND reports.
It appears the Obama administration has a strategy for reviving subprime mortgage lending by coercing banks to fund community organizing groups that may once more put low-income families into mortgages beyond their means.
But wait… you can’t just take the penalty money and hand it out to your friends, can you? …
The article continues at HotAir.com
