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| -Lurid Crime Tales- |
| Congress Warns Holder Over Acorn Payola |
| 2012-02-01 |
| Thanks to IBD, Congress is finally probing the administration's shakedown of banks over alleged "lending discrimination." At issue is backdoor funding of Acorn clones. Last week, House Judiciary Committee Chairman Lamar Smith fired off a three-page letter to Attorney General Eric Inaction JacksonHolder warning that his recent punishment of Bank of America's mortgage unit seemed political. In fact, he may have abused his power. As IBD first reported Jan. 4, 'BofA Must Pay Excess Settlement Funds To Acorn Clones," the $335 million lending-bias deal requires BofA to fork over a chunk of the payout to leftist groups not connected to the suit. The unusual term is part of a secret Justice program to redistribute millions in settlement cash to third parties instead of alleged victims. Critics told IBD it's a "political backdoor" to subsidize Democrat-tied bank shakedown groups. "I am concerned that the terms of the Justice Department's recent settlement with Countrywide Financial will allow the department to give large sums of money to individuals and organizations with questionable backgrounds or close political ties to the White House without any guidelines or oversight," Smith, R-Texas, wrote in his Jan. 25 letter. "If that is to be the case," he said, "this sort of backdoor funding of the president's political allies would be an abuse of the department's law enforcement authority." Under the order, excess funds will be handed to groups that "provide education, counseling and other assistance to low-income and minority borrowers." Excess funds should be turned into the Treasury. Simple enough. This language mirrors Acorn's mission statement. The corrupt group, which has re-emerged under other names after coming under investigation in 2009, continues to receive federal funds. Acorn Housing Corp. got some $700,000 in federal money after changing its name to Affordable Housing Centers of America. |
| Posted by:Mike Ramsey |
| #1 Gangster Government. Thank you Lamar Smith for shining a bright light on the rats. |
| Posted by: Chenter Barnsmell9450 2012-02-01 17:18 |