JPMorgan Chase deal with DOJ may funnel money to liberal advocacy group

[Jroc]

Extortion? to fund liberal causes

The banking giant agreed to pay the DOJ a record $13 billion to settle state and federal civil lawsuits over faulty mortgage bonds last month. The settlement states that $9 billion of the funds will go toward the lawsuits and the other $4 billion will be allocated for consumer relief.

However, the deal also states that any remaining money from that $4 billion will go to NeighborWorks of America, a liberal group that provides affordable housing and helps fund community organizers.

Critics say some of the community organizers sponsored by NeighborWorks are in the same vein as ACORN, the community organizing group busted in 2010 in a voter fraud scandal.

Fox News’ senior judicial analyst Judge Andrew Napolitano slammed the deal, saying the Obama administration is funneling the funds to liberal causes.

“This is an utter perversion of justice,” he said, “for the federal government to extort billions of dollars from the second-largest bank in the United States and give it away to the president’s political friends and favorite political causes

JPMorgan Chase deal with DOJ may funnel money to liberal advocacy group | Fox News

 

[Listening]

Eric Holder better move out of the country before Obama retires.

If the GOP takes back the government, he's gonna do life.

 

[Jroc]

Eric Holder better move out of the country before Obama retires.

If the GOP takes back the government, he's gonna do life.

He should fucking crook

 

[WelfareQueen]

What has happened to our Country. This really sickens me.

 

[Katzndogz]

The worst part is JP Morgan Chase did nothing at all wrong. They paid off just to stop government persecution.

 

[Jroc]

The worst part is JP Morgan Chase did nothing at all wrong. They paid off just to stop government persecution.

Even if they were to have done something wrong. Who got paid? and who's the victim ?were the victims compensated? or is money just being extorted and funneled to liberals causes

 

[Steven_R]

Eric Holder better move out of the country before Obama retires.

If the GOP takes back the government, he's gonna do life.

Not a chance. His last day in office, expect Obama to pardon everyone even close to the administration.

 

[NoTeaPartyPleez]

The worst part is JP Morgan Chase did nothing at all wrong. They paid off just to stop government persecution.

Even if they were to have done something wrong. Who got paid? and who's the victim ?were the victims compensated? or is money just being extorted and funneled to liberals causes

Jesus christ, are you kidding me?

Here you go, toots. " 2008 Meltdown for Dummies"

Between Reagan's allowing mortgages to be securitized by the lenders and the reversal of Glass Steagal in 1999, the mortgage bankers went wild and gave mortgages to anyone with a pulse. These were called NINJA loans: "No income, no job".

They took these shitty loans and then insured themselves AGAINST their failure (credit default swaps), packaged them up, got AAA ratings for them from Fannie Mae, and then sliced and diced them and sold them to largely foreign investors.

They got their money out of the risk pool, got rid of the toxic mortgage and then paid themselves with their in-house insurer. Ca-Ching!

Does any part of your pea brain think that this just might be what caused the Great Recession? Over 4,000,000 foreclosures since then with millions more on the docket, and millions more mortgages still underwater. JP Morgan Chase, Citibank, Bank of America, Wells Fargo, et al. did this.

Even your hero George Bush admitted wrongdoing: "Wall Street got drunk!" Remember that? Do I need to get you the video of him saying that?
But he didn't do a fucking thing because he's friends with these nice people.

Eric Holder is holding their feet to the fire.

 

[Katzndogz]

JP Morgan Chase didn't make those loans. JP Morgan Chase did nothing wrong at all. What the company did was buy Countrywide Mortgage the company that did make those loans, many of them. Countrywide was one of the biggest offenders.

 

[NoTeaPartyPleez]

JP Morgan Chase didn't make those loans. JP Morgan Chase did nothing wrong at all. What the company did was buy Countrywide Mortgage the company that did make those loans, many of them. Countrywide was one of the biggest offenders.

Excuse me, and I hate to embarrass you. But JPMC did not buy Countrywide. Bank of America did.

And not only did JPMC do this, but they also were reprimanded a couple of years ago for illegally trying to foreclose on troops in Iraq and Afghanistan.


Banks Find More Wrongful Foreclosures Among Military Members

"""The nation’s biggest banks wrongfully foreclosed on more than 700 military members during the housing crisis and seized homes from roughly two dozen other borrowers who were current on their mortgage payments, findings that eclipse earlier estimates of the improper evictions.

Bank of America, Citigroup, JPMorgan Chase and Wells Fargo uncovered the foreclosures while analyzing mortgages as part of a multibillion-dollar settlement deal with federal authorities, according to people with direct knowledge of the findings. In January, regulators ordered the banks to identify military members and other borrowers who were evicted in violation of federal law."""

http://dealbook.nytimes.com/2013/03...ful-foreclosures-among-military-members/?_r=0


It's sheer fucking naivete like yours that helps them get away with stealing. Wall Street LOVES people like you.

 

[Kosh]

I may have questioned this at one point, but they did get put in charge (along with Citigroup Inc.) of the GM stocks that were held by the government.

 

[Kosh]

JP Morgan Chase didn't make those loans. JP Morgan Chase did nothing wrong at all. What the company did was buy Countrywide Mortgage the company that did make those loans, many of them. Countrywide was one of the biggest offenders.

Excuse me, and I hate to embarrass you. But JPMC did not buy Countrywide. Bank of America did.

And not only did JPMC do this, but they also were reprimanded a couple of years ago for illegally trying to foreclose on troops in Iraq and Afghanistan.


Banks Find More Wrongful Foreclosures Among Military Members

"""The nation’s biggest banks wrongfully foreclosed on more than 700 military members during the housing crisis and seized homes from roughly two dozen other borrowers who were current on their mortgage payments, findings that eclipse earlier estimates of the improper evictions.

Bank of America, Citigroup, JPMorgan Chase and Wells Fargo uncovered the foreclosures while analyzing mortgages as part of a multibillion-dollar settlement deal with federal authorities, according to people with direct knowledge of the findings. In January, regulators ordered the banks to identify military members and other borrowers who were evicted in violation of federal law."""

http://dealbook.nytimes.com/2013/03...ful-foreclosures-among-military-members/?_r=0


It's sheer fucking naivete like yours that helps them get away with stealing. Wall Street LOVES people like you.

To bad the far left didn't care enough about them to help but did help their large donors.

 

[Dont Taz Me Bro]

The worst part is JP Morgan Chase did nothing at all wrong. They paid off just to stop government persecution.

That was their decision. They didn't have to.

 

[g5000]

The worst part is JP Morgan Chase did nothing at all wrong.

No. The worst part is there are a lot of rubes like you who think JP Morgan did nothing wrong. You don't even realize they are stealing from YOUR pocket.

 

[g5000]

The worst part is JP Morgan Chase did nothing at all wrong. They paid off just to stop government persecution.

Even if they were to have done something wrong. Who got paid? and who's the victim ?were the victims compensated? or is money just being extorted and funneled to liberals causes

The agreement is very carefully worded so as not to contain language which can be used against JP Morgan in the civil suits pending against them. JP Morgan is being protected by the DOJ in this respect.

There was a very funny article about this a couple weeks ago. I'll see if I can find it.

 

[Kosh]

The worst part is JP Morgan Chase did nothing at all wrong.

No. The worst part is there are a lot of rubes like you who think JP Morgan did nothing wrong. You don't even realize they are stealing from YOUR pocket.

And the far left hits keep on coming!

 

[g5000]

When these financial institutions were selling fraudulent securities, who do you think they were selling them to?

They were selling them to your 401k manager, your city treasurer, your state's public employee pension fund, and your insurance company, and your college endowment fund.

Did your 401k take a hit? Did your local and state taxes go up to make up for public employee pension fund shortfalls? Did your town get raped by interest rate swaps on its bonds? Did your college tuition go up?

Yeah. That's YOUR money that was redistributed up the food chain, kids.

 

[g5000]

The worst part is JP Morgan Chase did nothing at all wrong.

No. The worst part is there are a lot of rubes like you who think JP Morgan did nothing wrong. You don't even realize they are stealing from YOUR pocket.

And the far left hits keep on coming!

Speaking of clueless rubes...

 

[Kosh]

And the far left hits just keep on coming!

 

[g5000]

Oh, and another thing. Most of these payoffs to the government include phraseology of no admissions of wrongdoing. JP Morgan wanted the same deal, but the DOJ refused. They are leaving the door open for federal criminal prosecutions.

So much for "they did nothing wrong".