"...The Obama administration began suing over 30 banks involved in the mortgage-backed security crisis.
...Bank of America gets the grand prize. Bank of America settled for a whopping $16.65 billion. In total, there would be over $110 billion paid out by banks.
If the money went to the victims, there would be no problem, but the money would find its way to political activist organizations that aligned themselves with the Democrat party.
Rep. Bob Goodlatte (R-Va.) began investigating the disbarments of the payments by sending a letter in November of 2014 after noticing something strange in the settlement agreements of the banks.
Many of the settlements have a section that describes a minimum donation to HUD-approved housing counseling agencies.
Other segments included minimum donations to housing-related organizations.
The minimum payments were often over $10 million per section.
In total, many settlements required over $40 million in “donations” to various groups.
It gets worse.
The settlements also gave double credit for each dollar “donated,” while money to victims was a one for one exchange.
That means after a bank paid the minimum, a $50 million donation would be treated as a $100 million towards the settlement amount.
If you’re a bank which would you rather pay?"
Read on!!
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