Obama Shakes Down Banks For $1 Billion To Pay For ‘Community Organizers’ For 2012 Campaign

The Community-Organizer-in-Chief has successfully shaken down the banks for $1 billion dollars that will be distributed to ACORN-like groups, who will “get out the vote” for Obama, including massive voter fraud.

He’s essentially using bank penalties to fund his “unofficial” campaign apparatus.

Neil Munro reports at the Daily Caller:

Five big banks have agreed to give twenty-three Democratic attorneys general more than a billion dollars that can be distributed to housing groups and community organizers in the months prior to the 2012 election.

The money is part of a deal valued at $25 billion that the five banks announced Feb. 9 with President Barack Obama’s deputies and with a coalition of 50 attorneys general. Ninety percent of the value consists of mortgage write-offs, accounting changes and cash transfers that are to be delivered to homeowners over the next three years.

But $1.1 billion in cash will be transferred to the Democratic attorneys general as soon as the deal is approved by a judge, which is expected to happen in March or April.

The bank deal is also slated to deliver almost $1.4 billion to Republican attorneys general, but many of the GOP attorneys general have already announced they will transfer the funds to state legislatures.

The deal is a government shakedown of bank executives and their shareholders, said Tom Fitton, the president of Judicial Watch, a law firm that promotes transparency in funding.

By using the courts, the Democrats and their patronage groups have seized money and the ability to favor constituencies that elected legislators in Congress had already denied them, Fitton told The Daily Caller.

The left is very adept at using the offices of the federal government to keep itself funded, and Republicans are generally oblivious to this,” he said. “Tax dollars shouldn’t be going to interest groups on the left — or the right,” he said.

Few Republicans, he said, “understand that they need to defund the left.”

Some GOP leaders are becoming alarmed about the political payoffs in the growing number of bank lawsuits.

Read more at the Daily Caller

This is what Obama used to do as a “community organizer” with ACORN: help train activists to shake down banks using the “Community Reinvestment Act” and its required quotas of low-income and minority loans as weapons of intimidation and blackmail.

Holder Launches Witch Hunt Against ‘Racist’ Banks That Won’t Lend To Minorities With Bad Credit

Justice Department Partners With ACORN’s ‘Project Vote’ For Voter Registration Drives

Surprise! Obama’s ACORN Thugs Are Alive And Preparing for 2012

Exposed: “Occupy Wall Street” Was Organized From Day One by Radical Leftist SEIU / ACORN Front

[adrotate group="8"]

If you enjoyed this post, make sure you subscribe to my RSS feed!
Share

Leave a Reply

Become A Subscriber!

Enter your email address:

Delivered by FeedBurner

Follow ConservThoughts on Twitter

Support This Blog!

This blog is a labor of love for you, the reader who loves this country and wants to stay informed of the threats to our liberty and how to make a difference. I receive no compensation for blogging and pay for web services out of our family budget. Would you consider making a small donation to help? Just like the fight for liberty, every little bit makes a difference!

Categories
Archives
Note: Please keep your comments respectful and relevant to the topic at hand. I will not approve ad hominem attacks or profanity. Nor will I approve comments by advertisers using their business or product and hyperlink as their username. This blog is not a forum for free advertising.
Free Gift!
FREE Pocket Copy of the Declaration & Constitution!
PJTV
Change A Child’s Life!

Get stickers, T-Shirts and more at the Patriot Depot!

Preparedness Pantry Blog

Copyright Trolls Sue Thoughts From A Conservative Mom

Join The Fight!
You Are Visitor
Powered by web analytics software.
Learn more about us debt.
DiscoverTheNetworks.org
Help A Friend In Need!
A non-profit organization facilitating generosity between people.
Financial Freedom
Get on the road to financial peace with Dave Ramsey's Financial Peace University!

Journey to true financial freedom with Crown Financial Ministries!