The recent settlement between the Justice Department and JPMorgan Chase seems more like a government shakedown than a legitimately brokered legal agreement. A DOJ Press Release said that the second largest US Bank agreed to a record $13 billion deal to settle all state and federal lawsuits over faulty mortgage bonds. Here is what the DOJ conveniently failed to include in that statement. Only about $9 billion of those funds will go towards settling the lawsuits. The other $4 billion will be going towards something called “consumer relief.” That is bureaucratic speak for we will do whatever we want with that money; and make it sound like whatever we do will be for the exclusive benefit of the American people. Those of us who know how government really works understand that it rarely turns out that way.
Here is what we do know. The deal states that any remaining funds from the $4 billion provided for “consumer relief” will go to NeighborWorks of America, a radically liberal activist group that claims to “provide affordable housing; while funding community organizers.” Who are these community organizers that NeighborWorks of America has and continues to fund? It turns out that many of them are former ACORN employees; another “community organizing” group that was pretty much exposed in 2010 as a complete fraud; funding their own personal greed at the expense of those who genuinely need and can’t afford housing. ACORN was an organization that came to define public / private partnership corruption in the United States just two short years ago.
Now I am not a legal scholar; but when you extort the second largest US Bank for $13 billion; you would think it would be illegal, unconscionable, and or unethical for the Obama Administration to than begin distributing a large portion of that settlement money to their closest political allies, friends, and favorite liberal organizations. Where is the congressional oversight? Where are all those investigative journalists in the establishment media? Where are the Republicans on the Hill calling for an independent investigation? Why are conservative activists not screaming for answers? With no one to shine a public light on this issue, the Administration has become so confidently corrupt that they don’t even concern themselves with the appearance of transparency. Why should they? The silence is deafening.