Emails written by President Obama’s Department of Justice confirm the administration forced predatory banks to pay $1 billion, which was then funneled to the Clinton Foundation and some of the administration’s favorite radical groups.
By Allen West
The House Intelligence Committee announced recently that it would be conducting an investigation of “Uranium One,” as the issue is being called. To summarize: Somehow the Obama administration, through the Hillary Clinton State Department, approved the sale of 20% of the U.S.’s uranium stock to a Russian company that was being investigated. Suspiciously, some “interesting” monetary deposits were made to the Clinton Foundation, along with a $500,000 speaker’s fee to Bill Clinton, coinciding with the uranium sale.
But what if “Uranium One” wasn’t just the Clinton Foundation running a pay-for-play scheme in conjunction with the Obama administration? What if the Obama administration itself, through its Department of Justice (DoJ), was running a shakedown scheme?
As reported by the Daily Caller:
Emails written by Obama administration Department of Justice officials confirm reports the agency engaged in a systemic effort to funnel money to liberal advocacy organizations from settlements reached with big banks.
The documents, obtained by the House Judiciary Committee as part of an ongoing investigation, reveal the Obama Justice Department effectively skirted Congress’s budgetary authority by requiring that major financial institutions donate to a group of affordable housing nonprofits and legal advocacy organizations as part of settlement agreements resulting from predatory mortgage lending practices.
The internal DoJ documents represent the latest revelation in a two-year investigation spearheaded by House Financial Services Committee Chairman Bob Goodlatte.
The investigation has thus far yielded evidence implicating the Obama DoJ in using mandatory donations to funnel roughly $1 billion in settlement money to activist groups, including the National Council of La Raza, the National Community Reinvestment Coalition and the National Urban League. The list of third party organizations were unrelated to the legal settlements, except through general claims that they would use the funds to aid the low-income Americans most severely harmed by predatory lending practices.
Let’s have a little history lesson here. First of all, the whole mortgage meltdown of 2008 can be traced back to President Jimmy Carter’s Community Reinvestment Act, based on his belief that every American has a right to own a home—another example of government interjecting itself in our lives, not to allow us to “pursue our happiness” but instead trying to “guarantee our happiness.” The end result was government forcing itself into a private-sector market, in this case the mortgage industry, as well as enacting punitive measures against private-sector lending institutions that did not comply and conduct risky business endeavors.
Yes, the private sector lending institutions did wrong in creating the mortgage-backed securities that were sold, knowing they weren’t strong or profitable. The end result was the sub-prime mortgage-lending crisis and the revelation that these mortgage-backed securities were worthless. However, this crisis could have been averted had the government never ventured into the mortgage industry in the first place. The same government also used its power to attempt to force lending institutions to take on highly risky endeavors. And yes, many lending institutions that believed they could make money enacted even worse practices, what the government termed “predatory lending.” The whole scheme, crafted by government in the first place, should never have been unleashed.
Along comes Barack Obama, who adeptly used his bully pulpit to demonize lending institutions instead of telling the whole truth, willingly aided by a compliant ally, the liberal progressive media. Obama and his lead henchman at DoJ, Eric Holder, levied fines against these financial lending institutions, not in an attempt to correct the wrong but for far more nefarious purposes.
The community-organizer-in-chief then funneled funds from the penalties levied against these financial institutions to his administration’s preferred progressive socialist organizations. While this has previously been suspected, it is now confirmed.
Bottom line: The Obama administration was running a shakedown of financial institutions that sought to settle instead of going through the legal “kangaroo court” of Holder’s DoJ. One is reminded of when, during his election night victory speech, Obama infamously said: “Chicago is coming to Washington, D.C.” Now we truly know what that meant: The same style of gangster mentality that once ruled the streets of Chicago, Al Capone-style, was heading to our nation’s capital.
It seems safe to assume this story won’t be receiving much, if any, attention from the liberal progressive media. For them, this isn’t anything upsetting—just another example of their cronyism, elitism, and corruption and why we can never allow the progressive socialists of the Democrat Party to have control and power in our government.
Americans can never accept this type of behavior, which is reflective of a Third-World banana republic, not our constitutional republic. Anyone who engages in this type of disgusting behavior is indeed a threat to the country and to the rule of law.
Allen Bernard West is an American political commentator, retired U.S. Army lieutenant colonel, and former member of the House of Representatives.