DOJ Extortion of Banks to Fund Leftists

 In Economy, Politics

The Government Accounting Institute has concluded that the DOJ has been using fines literally extorted from banks to fund left wing activists who are pushing for votes for the Democrats.

Left-wing activist groups have been pressuring banks for decades, but the Obama Department of Justice has brought their own power- and the courts in order to force the banks to comply with giving money to left wing causes. The fines collected are used for funding organizations that have in the past used terror tactics to get their way.

According to the report, Eric Holder’s DOJ, $37 Billion was obtained from banks under threat of lawsuits under an act signed by Jimmy Carter and Bill Clinton that threatened bank MERGERS if they had a history of “disparity” in lending. Notice that they’ve once again twisted a law for their own purposes.

So now instead of punishing them, we just give them money.

The GAI report lists numerous revelations of extortion by the DOJ- here are just a few:

These funds directed by the DOJ effectively replaced funding to activist nonprofits previously denied by Congress

NeighborWorks, a major conduit for distribution of these funds, gave over $53 million to one particular organization, Neighborhood Assistance Corporation of America (NACA), whose founder and leader is a self-described “bank terrorist.”

 Another recipient of NeighborWorks distributions is Asian Americans for Equality (AAFE), an organization with communist roots and continued close ties to a very vocal North Korean sympathizer. From 2008-2013, AAFE received over $4 million dollars as a NeighborWorks affiliate.

Catalist (a data analytics company specializing in progressive causes with $2.25 million of investment funding from George Soros)  and Nonprofit VOTE mobilize these federally funded nonprofits, ostensibly designed to assist with housing and housing education, to get the vote out for those who “tend to be reliably progressive.” 

Extortion – paying terrorists 

Breitbart reported that in 2009, groups like the NACA went so far as to target the children of bankers and bankers themselves, “terrorizing” them to force the bank to do what they wanted. Now, the DOJ is using the courts to force compliance. It’s extortion, plain and simple.

Let’s put it bluntly: the Department of Justice is funding left-wing political activism with “government-directed money” that is not subject to Congressional oversight.

Are you OK with our Department of Justice using fines collected for “violations” to fund leftist activities?

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