The Obama administration never ceases to amaze me with their expertise on corruption. Just when you think you’ve seen everything, you realize you haven’t seen anything yet. The Obama administration has been using the large banks to finance organizations like La raza by tens of millions of dollars, possibly more. Possibly much more.
Obama formed a committee to look into lending practices of banks. Then real or imagined, they bring charges against the banks. They then negotiate with the banks to avoid a legal battle. One that avoids a long costly legal battle. Then Obama offers them incentives to settle. First is “No prosecution”. Since the same people who negotiate the settlement are the ones who would be prosecuted, it’s a major incentive. Secondly, they give them a way to greatly reduce their fines.
For example, Bank of America was assessed 16.65 billion dollars. If they send the check to the Department of Justice, they would make the check out for 16.65 billion. But Obama gives them a choice. They can pay down their fine by giving money to La Raza. For a “contribution of 1.5 million to La Raza, the government knocks 3.5 million off their fine. That’s better than double for any liberals reading this article.
Now, look at the other fines subject to the same terms. Goldman Sachs 5.1 billion. Morgan Stanley 3.2 billion. Citi Group 7 billion. JP Morgan Chase 13 billion. There are other groups that also decrease payments, but for some strange reason, La Raza pays the best.
Now, let me ask you, if your were in charge of any of these banks would you pay full price to the government or the reduced rate to fund ultra liberal groups? Here’s another question that deserves an answer. Why is the money going to La Raza rather than to the “victims” of the bank’s actions?
Corruption, Obama is thy name.