Back door financing for community organizations?

[WhiskeyGirl]

Bank of America (BAC) must turn over excess funds from a record $335 million discrimination fine to community organizing groups. Critics say it's a "political backdoor" to subsidize Democrat-tied Acorn "clones."

When BofA bought Countrywide in 2008, it committed a record $1.5 trillion to minority lending and urban reinvestment. The 10-year accord replaced the bank's half-finished $750 billion goal set in 2004, when it acquired Fleet Bank.

Where are they getting the $1.5 trillion from?  Maybe these folks could let Congress and the White House know how to make/find money.  Might help pay down the $15 trillion national debt, and $90 plus TRILLION unfunded liabilities.

How much money do they really have?

"They are creating a grant program, unsupervised by Congress, unconstrained by any government safeguards or accountability and with no guidelines to control or restrict the Department of Justice in giving or withholding approval of who gets the money," he said.

read more here http://news.investors.com/Article/596657/201201041546/doj-orders-boa-to-fund-community-groups.htm?src=HPLNews

What of the non-minority folks that received similar unfavorable loans?  Why are they forgotten?  I recall from reading years ago that most of the suspect/discriminatory loans were made by just a few brokers, not the whole company.  IIRC, they were made by independent brokers.  Why should BOA or any company be held accountable for bad business by bad actors?

Why compensate folks based solely on race?  Race is worth $1.5 TRILLION?

[WhiskeyGirl]

For the past decade it seems like many people have complained that the CRA was responsible for our housing crisis and bad debt.

I wonder how many minority lending and urban reinvestment agreements existed like the one at BOA?  To me, it looks like BOA is a shell, being used in a giant money laundering scheme for our urban areas.

Would Congress give away $1.5 TRILLION in free cash to rebuild large urban areas?

To me, it looks like a never ending slush fund of money laundering...

Knowing write bad loans, knowing that taxpayers will ultimately be stuck with the bill. Give out liar loans, fraud loans,loans to people who can't afford to pay, pump up the construction business...inflate the housing bubble again...

Write the business and stick it to Freddie/Frannie/Taxpayers...

Government gets stuck with bad loans and many properties.

Government bundles the properties and sells them in bulk, literally for pennies on the dollar.  Taxpayer 'eat' the difference. 

Meanwhile, folks with government identified labels like the 'disparity' class, go shopping for home, or maybe second home.  'Friendly' realtor tells them about 'cash' grants available from community organizations on foreclosed properties, and folks buy house with cash from community organization funded by taxpayers.  Taxpayers lose again.  Only 'disparity' class eligible for cash grants.

Disparity class composed of folks that are not victims, and money is taken from folks that have not committed crimes and have not been found guilty of any crime.

Meanwhile, large private bank, wishes money into existences, gives it away with help from hedge fund advisers, call it monetary easing, and giant hedge funds use taxpayer money to buy up large tracts of vacant farmland, vacant homes...all on the taxpayer dime.

Are the 'loans' or financial instruments from the Fed ever paid back?  Ever?  Over decades, how much bad business has the Fed created on the backs of taxpayers?  How much do they ever get back?

Would working Americans ever knowingly give away say $100 TRILLION to endlessly keep reubuilding urban areas?  What about Main Street?

Why should non-disparity folks keep getting stuck with the bill?  Where are the jobs?  It seems like DOJ is doing a good job of creating an employment system that favors disparity folks at the expense of everyone else.  It's the theory of 'lies, damn lies, and statistics'...

just my humble opinions

[WhiskeyGirl]

Is this another way to go around Congress?  Rip-off the American people?  Destroy the nation?

Why should anyone be forced into funding the rebuilding of large urban areas?

Just set up a banking system where taxpayers keep getting stuck with the bill for bad business, large private banks have no risk, financial gamblers just keep printing money and giving it away, and sticking generations with a looted treasury?

Congress, the disparity class, bankers at the Fed and the job rotation keep getting richer, and the rest of us get the shaft...

No jobs, massive government debt, and a future world controlled by folks who've gotten rich on our back. 

Rolling the American nation...

Banana Republic confirmed...

Congress doesn't matter, just use taxpayers to back stop all the money printing, money laundering, corruption...

just my humble opinions