Skip to comments.OBAMA CORRUPTION CONTINUES
Posted on 12/22/2013 5:38:37 AM PST by LD Jackson
Does anyone remember the Association of Community Organizations for Reform Now (ACORN )? It was a coalition of community-based organizations advocating for low-income and moderate-income families in such areas as voter corruption, fraudulent health care claims, and affordable housing. In the latter category, they supported the Community Reinvestment Act, signed into law in 1977 by Jimmy Carter (who many may recall was the second worst president in US history), urged on by Gale Cincotta of National Peoples Action Network (Chicago), and which through a succession of revisions, led to the collapse of the US housing market .
The leftist view of the housing market collapse was (and I assume continues to be) that greedy financial institutions made bad loans and illegal deals, trapping poor folk into their web of lies and distortions; and if we were speaking about Countrywide Home Loans, and Washington Mutual Savings and Loans, then that would be a true statement. It is also true that former Senator Chris Dodd and former Representative Barney Frank enriched themselves from such organizations while exercising congressional oversight of their activities. Of course, one cannot help but wonder why Dodd and Frank arent in jail, and ideally, in the same cell.
Several of the ACORN organizations attempted to disassociate themselves with the national organization by founding new organizations, which include the Alliance of Californians for Community Empowerment, New York Communities for Change, and Affordable Housing Centers of America. Oh, and one more (it seems) calling itself NeighborWorks America .
The Neighborhood Reinvestment Corporation, doing business as NeighborWorks America is a congressionally chartered nonprofit organization supporting community development in the United States. If you are a particularly astute individual, you may be saying to yourself right now, Hey wait just a damn minute. This would suggest that you have concluded, as I have, that NeighborWorks America is participating with the federal government in recreating yet another housing bubble. Like me, you may be assuming that the reason this administration is so interested in repeating this disaster is because it was so darn profitable the first time around particularly among such leftists as Franklin Raines, Jaime Gorelick, and the friends of Bill Clinton and George Bush that are deeply entrenched with Goldman Sachs (who pay Hillary Clinton massive bucks to speak to their employees and shareholders).
The NeighborWorks network consists of 235 community development organizations working in nearly 4,358 urban, suburban, and rural communities across the nation. It would not surprise me to learn that NeighborWorks America is in some way associated with New Communities Land Trust (a Charles and Shirley Sherrod scam) helping black farmers perpetrate fraud against the American taxpayer you know, because their ancestors were once slaves, heard of someone who was a slave, or once read Uncle Tom’s Cabin. You do have to hand it to old Shirley Sherrod, though not many people employed by the federal government get to sue the federal government for tens of millions of dollars. Naturally, Sherrod and Eric Holder have a lot in common: they are both racists.
Speaking of which, in a recent legal action pushed forward by the racist Holder, JP Morgan Chase has agreed to pay a $13 billion settlement over mortgage backed securities sold ahead of the financial crisis, and also for fraudulently bundling and marketing securities, which contributed to the collapse of the housing market. The issue here is the allegation that JPMorgan and firms it later purchased, Bear Stearns, Countrywide Home Loans, Inc., and Washington Mutual, sold risky mortgage securities during the housing bubble while misrepresenting their quality. These securities later failed in huge numbers, playing a key role in the 2008 crisis .
Of this $13 billion settlement, an amazing $4 billion will be funneled to community organizations that are friends of Obama and Holder black run organizations, I might add, to help people who cannot afford to purchase homes, to purchase homes. According to CNN, Eric Holder said in a statement, “Without a doubt, the conduct uncovered in this investigation helped sow the seeds of the mortgage meltdown.” This presumably explains why Eric Holder is attempting to play this tune for a second time. Plus, he knows that he will never be held legally accountable for his obvious corruption: it is illegal for the United States government to provide financial rewards to partisan cronies.
Actually, this is my point. Someone said that crime doesnt pay, but it isnt true. Crime does pay. In fact, it pays so well that individuals appointed by a corrupt president do not even attempt to hide the fact, or the extent of their corruption. And should anyone attempt to make the argument that Eric Holder didnt personally receive any of these funds, my argument is that we dont know that yet. When Eric Holder is no longer Attorney General, will he find his way to the top of NeighborWorks America and reap his due reward, or find a place at the feeding trough at Goldman Sachs, at Freddie Mac, or at AIG?
Is this a great country, or what?
Now O/Care was merely an extension of Conman Boobamba's MO--- figured he could get away w/ repeated lies about O/care---like keeping your plan, and your doctor.....
.......and "saving $2500"....THE biggest line a sitting president ever fed to the American elctorate (said as a re-election ploy---to regain power).
We need investigations into Obama's Chicago activities when he duped gullible people on welfare, food stamps and SSI.... conning them into believing they could payoff mortgages.
Valerie Jarrett was a Chicago slumlord at the time. What was her involvement in sub-prime mtges?
Community organizer Bammy sued banks to get subprime mtges------the same banks he's now suing for "predator lending"---b/c they burdened the poor with mtges they can't possibly payoff.
Investigations need to commence into the Chicago "community organizer's" and his associates' activities.
L/E is directed to get ahold of: (1) copies of checks, (2) wire transfers, (3) account statements, (4) invoices, (5) bills, (6) delivery tickets, (7) correspondence including e-mail, contracts, mtge loan agreements, and, (8) any other books or records.
L/E should also explore (a) monies paid to slumlords, brokers, sub- brokers, (b) family members, (c) mortgage brokers, (d) financial managers, and, (e) real estate agents, brokers, and developers.
L/E should scrutinize all bank accounts for suspicious activities: (A) large deposits, (B) funds transferred from one account into another, (C) frequent requests for withdrawals. Bank records might also show diversions to secret LLC other accounts, to money launder and to operate personal ventures---like Chicago political campaigns.
Tax fraud can also be facilitated by withdrawals, gift cards purchases, credit card purchases and intra-bank transfers from foundation accounts into personal .....and campaign accounts. A huge tipoff is whether bank withdrawals support campaign activities.
Did the community organizer and the slumlord encourage the falsification of bank documents? Did they accept money under false pretenses?
And study those back tax returns with a fine-tooth comb.....especially entries for "interest income."
read after church
Former officers of the disgraced radical group ACORN are still advising the Obama administration and guiding its catastrophic far-left policies almost three years after the group filed bankruptcy.
Former ACORN Housing public affairs director Bruce Dorpalen, who now runs the National Housing Resource Center (NHRC), has been meeting with and advising senior Obama administration officials on housing policy, according to good-government group Judicial Watch. The watchdog discovered the secret collaborations after filing a Freedom of Information Act (FoIA) request.
Like a grifter running away from a criminal past, ACORN Housing formally changed its name to Affordable Housing Centers of America (AHCOA) after devastating undercover videos surfaced in 2009. In those videos, masterminded by conservative activists James OKeefe III and Hannah Giles, ACORN and ACORN Housing intake workers were shown providing advice on setting up a brothel for pedophiles and breaking other laws. The videos launched the late Andrew Breitbarts website Big Government and generated leftist apoplexy across America.
At the time, ACORN apologists like Joe Conason, Rachel Maddow, David Sirota, and a menagerie of other media Marxists tried to defend ACORN by falsely claiming that the videos had been doctored. A year later the controlling entity in the ACORN network, ACORN Inc., filed bankruptcy after Congress canceled its taxpayer funding and left-wing foundations sprinted away from the group as hard as they could.
How is it, after the scandals of ACORN and its contribution to the housing crash, that this organizations former leadership is still able to guide federal housing policy? said Judicial Watch president Tom Fitton. It goes to show that Barack Obama truly is the president from ACORN.
The smoking-gun documents Judicial Watch obtained show the continued collusion of the U.S. Department of Housing and Urban Development (HUD), Consumer Financial Protection Bureau (CFPB), and ACORN spinoffs and strongly indicate that Barack Obama is still determined to turn the federal governments housing policy over to the far left, Fitton said.
According to the documents, Dorpalen is so cozy with Obama officials that he was scheduled to introduce CFPB Director Richard Cordray at a housing counseling forum in December 2012. Dorpalen also met with CFPB regional strategist Keo Chea, Federal Reserve representatives, and Dustin Toomey, executive director of Affordable Housing Centers of PA, an ACORN spinoff group that shares office space with Dorpalens NHRC, Judicial Watch said.
The documents also show that Dorpalen met with Thomas J. Curry, Comptroller of the Currency in April 2013. Currys office, part of the U.S. Treasury Department, supervises more than 2,000 national banks and federal savings associations around the country. In May of this year, Dorpalen lobbied federal officials in support of the housing bubble-generating Community Reinvestment Act (CRA). ACORN and other radical activist groups support the CRA with a near-religious fervor even though it hurts more people than it helps.
--snip--rest on FR..............
JPM Settlement Of this $13 billion settlement, an amazing $4 billion will be funneled to community organizations that are friends of Obama and Holder black run organizations, I might add, to help people who cannot afford to purchase homes, to purchase homes. According to CNN, Eric Holder said in a statement, Without a doubt, the conduct uncovered in this investigation helped sow the seeds of the mortgage meltdown. This presumably explains why Eric Holder is attempting to play this tune for a second time. Plus, he knows that he will never be held legally accountable for his obvious corruption: it is illegal for the United States government to provide financial rewards to partisan cronies.
In his new book "Extortion" author Peter Schweitzer writes about Obo and Holder, using the Justice Dept and assorted govt agencies to extort Big Money ....threatening jailtime unless the targets fork over billions. Read on.
US robs $13B from venerable bank / By Mark DeCambre, Oct 19, 2013
JPMorgan Chase has tentatively agreed to pay (Holder's) Dept of Justice a record $13 billion settlement to resolve several civil probes a costly deal that still doesnt protect the bank against additional criminal prosecutions.
This is a basic and fundamental attack on capitalism, declared Dick Bove, an influential bank analyst at Rafferty Capital. It is possible that the government is taking away the property of the JPMorgan shareholders without the shareholders having committed any crime or having any say in the expropriation of these funds. The deal also includes an undisclosed sum to settle a civil suit brought by NY state AG.
Under the settlement, JPMorgan must continue to cooperate with federal investigators probing the banking giants issuance of mortgage-backed securities from 2005 to 2007, according to sources.
Still to be ironed out are how to resolve that criminal investigation, along with the wording of any admissions of culpability the feds might require.
The general terms of the settlement deal were forged Friday in a phone conversation between Attorney General Eric Holder and JPMorgan CEO Jamie Dimon, The WSJ reported.
Analysts called the settlement a raw deal given that, by JPMorgans own estimate, some 80 percent of its mortgage-backed securities had been acquired at the request of the Obama-led government, when it bought Bear Stearns and Washington Mutual in 2008. Ultimately, the earnings power of banks is being force-regulated out the (SEC), by the Department of Justice, Kass added.
The settlement sum includes $4 billion that JPMorgan agreed this month to pay the Federal Housing Finance Agency to resolve allegations that the bank misled mortgage-finance companies Fannie Mae and Freddie Mac about the quality of loans it sold them prior to the 2008 financial crisis, the Journal reported.
The twisted deranged progressive mind at work. As a community organizer, Obama sued banks to give out mtges to the underemployed----Obama duped people on food stamps and SSI (considered "income") into thinking they could payoff mtges. Now, as president, Obama's suing the same banks for predator lending---for burdening these ne'er do wells with mtges they can't possibly pay off.
OBO/HOLDER COVER-UP massive mtge fraud perpetrated by the Congressional Hispanic Caucus (paranoid O needs latino votes to stay in power).
Where are Dimon's lawyers? Why aren't they looking into these trumped-up mtges----investigate elected crooks colluding with community groups to falsify documents.
SUB-PRIME MORTGAGE SCAMS--MASSIVE LATINO MORTGAGE FRAUD ON CAPITOL HILL:
The Congressional Hispanic Institute, Inc, is an entity organized by Cong Joe Baca (D-Cali) in his capacity as head of the Congressional Hispanic Caucus.
Cong Baca created "HOGAR" (Spanish for home) in 2003 to work with the mortgage industry, F/M, lenders, banks and latino community groups to increase mortgage lending to what savvy observers consider to be unqualified Latinos.
"HOGAR" colluded w/ Cong Baca in what was to become a massive bilking of taxpayers. Cong Baca calculatedly hyped the fact that the national Latino homeownership rate was 47%, compared with 68% for the overall population.
HOGAR was coached to call the figure "alarming," and to say "a concerted effort was required to ensure that by the end of the decade Latinos will share equally in the American Dream of home ownership."
HOGAR and Cong Baca conned the public, failing to note that most of the "dreamers" were illegals, citizens of Third World countries who had violated US borders.
Predictably, HOGAR colluded w/ co-conspirators which included:
(a) shaky mortgage companies that ran into big trouble;
(b) Fannie Mae and Freddie Mac, both now under federal control after billions in taxpayer bailouts;
(c) Countrywide Financial Corp., sold to Bank of America Corp;
(d) Washington Mutual Inc., taken over by the US government and sold to J.P. Morgan Chase & Co.; and,
(e) New Century Financial Corp. and Ameriquest Mortgage Corp, both now defunct, killed by defaulted subprime Latino mortgages.
HOGAR's ties to the subprime mortgage industry were substantial. Bribery and self-dealing were rampant:
<><> Companies that donated $150,000 to Cong Baca got the right to have their own research fellow who would conduct fraudulent studies, which were cunningly used by industry lobbyists to pump lending.
<><> Bribery and extortion in the form of $100,000 annual donations to Cong Baca, for which HOGAR provided phony news releases from Cong Baca's Hispanic Caucus promoting a lender's commercial products to the Latino market,
<><> The most shocking example of bribery well- substantitated by Hogar's literature..... HOGAR announced it worked with Freddie Mac on a self-serving two-year examination of Latino homeownership in 63 congressional districts.
The "study" found Hispanic ownership on the rise thanks to "new flexible mortgage loan products" that the industry was adopting at the urging of Cong Baca's collusive coterie.
<><> HOGAR conned lenders into even more lenient down-payment and underwriting standards.
<><> As the subprime debacle unfolded, HOGAR declined repeated requests for comment despite the economic havoc their activities precipitated.
The mortgage schemes demonstrated the criminal activities of border violators with multiple identities---perhaps violent, terrorist-connected foreigners---colluding and conspiring to defraud private companies and public entities. And mortgage racketeering enterprises which employed sub rosa finance and business practices to carry out deceptions and frauds.
The alleged ring of swindlers---a Congresman, individuals with multiple identities, banks, insurance companies, mortgage brokers--might be charged with cheating the US govt, taxpayers and bank share holders out of hundreds of millions of dollars via an elaborate web of mortgage and bank frauds.
The mortgage Dreamers used multiple phony identities, fraudulent Social Security numbers, purchased from identity forgers in order to obtain govt-subsidized benefits.
L/E will find that individuals with multiple identities obtained fraudulent mortgages then flipped the houses at ever-higher prices to family member who then absconded to foreign countries, sticking banks (and taxpayers) with hundreds of millions in fraudulent mortgages.
BACKGROUND A Wall Street Journal investigative report related that, according to the Federal Financial Institutions Examination Council examination of the borrowing spree, uncovered financial schemes by low-income housing groups, Hispanic lawmakers, a congressional Hispanic housing initiative, mortgage lenders and brokers, all colluding in fraduent schemes to increase homeownership among Latinos with forged documents which enabled massive fraud.
This was not simply the mortgage market at work. It was fueled by avarice, greed, and Congressional enabling fraudulent /practices. In 2005 alone, mortgages to Hispanics jumped by 29%; Latinos with multiple fraudulent identities in low-paying jobs obtained subprime mortgages for prime properties---soaring to 169%.
(Research provided by Wall Street Journal. Some material excerpted from the NY Times).
Smokin'Joe said it here
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