Eric Holder's Newest Witch Hunt

Townhall.com ^ | July 311, 2011 | Bob Beauprez

[Brad from Tennessee]

Holder’s operation is an extortion tool that will intimidate political contributions out of banks and bank execs for 2012.

[Condor51]

*** As Albert Einstein said... insanity. ***

As he also said..

"The difference between stupidity and genius is that genius has its limits."

Since Obama was sworn in, and Holder confirmed, they've both proved Einstein was correct -- again. As there is NO LIMIT to their stupidity.

If STOO-PID^™ was money either of them could pay off the National Debt.

[ I've been using that quote as my Tagline for quite a while now.]

[gargoyle]

...With yer, again...

...Scarey, eh... (^;

[RFEngineer]

“Holder’s operation is an extortion tool that will intimidate political contributions out of banks and bank execs for 2012.”

Holder is getting into Jesse Jackson’s and Al Sharpton’s game. How’s a reverend gonna make a living with this sort of government encroachment? Always sticking it to the entrepreneur, that’s government.

[stephenjohnbanker]

” And why is the gop not calling for his impeachment yet ?”

Abject C O W A R D I C E

[stephenjohnbanker]

” As Albert Einstein said... insanity. “

Don’t forget PURE evil....

[stephenjohnbanker]

” The Ovomitons are like the flesh-eating ghouls from The Night of the Living Dead. “

Whaddya mean LIKE ?

[Major Matt Mason]

These banks need to start recording the meetings or conversations that they have with the DOJ and the Jackson/Sharpton crowd. I suspect some juicy (and criminal) discussion would be uncovered. Companies need to start fighting back against this garbage.

[Liz]

What was I thinking?———they ARE flesh-eating ghouls from “The Night of the Living Dead. “

[Baynative]

Meanwhile, many of us (small building contractors) who are struggling daily to stay above water are finding that the banks we’ve done business with for years will not lift a finger to help us when needed. They say the government has tied their hands with regulations.

[Major Matt Mason]

Find out if the bank that you work with is lending to welfare recipients. If the answer is yes, then there might be grounds for a lawsuit. Assuming your business is credit-worthy, how can a bank refuse you if they're lending money to people that have no hope of repaying the loan?

[stephenjohnbanker]

;-)

[sickoflibs]

RE :"The Department of Justice is executing a "Witch Hunt" against banks. Through the DOJ's Civil Rights Division, Attorney General Eric Holder is forcing banks to "relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination," according to a published report by Investor's Business Daily after reviewing court documents. The DOJ has already extorted $20 million for weak and poor credit loans from banks that "settled out of court rather than battle the federal government and risk being branded racist." The DOJ admits another 60 banks are already under "investigation." Holder's demanding the banks sign "non-disclosure" settlement agreements barring them from talking while allowing the DOJ to operate behind a curtain of secrecy. The settlements already extracted from banks force them to make "prime-rate mortgages to low income blacks and Hispanics" with credit problems, even if they are living on welfare. According to IBD, the DOJ has ordered banks to advertise that minorities cannot be turned down for a loan "because they receive public aid, such as unemployment benefits, welfare payments or food stamps." No job; no problem! In other words, the DOJ is forcing banks to make loans to people that they know don't qualify for them and likely won't be able to afford to repay them, which is precisely the kind of failed public policy that precipitated the financial collapse and recession in 2008."

'Here we go again' ping!

From scared Republicans ??? Hear those crickets ??

[SunkenCiv]

Thanks sickoflibs.

[stephenjohnbanker]

I hear em : )

[GOPJ]

The settlements already extracted from banks force them to make "prime-rate mortgages to low income blacks and Hispanics" with credit problems, even if they are living on welfare.

Maybe Holder's people feel some part of the housing market hasn't been destroyed... what other reason could there be for such idiocy? Maybe some banks are still solvent... guess Holders little move can put a stop to that... or maybe the government will back these loans... Does Holder know the country is broke? Yikes, sickoflibs - this is nuts...

[ding_dong_daddy_from_dumas]

Step 1: Threaten to sue banks who don't lend to unqualified "minority" (including white females, who are not members of any minority) applicants.

Step 2: When they default, threaten to sue the banks if they try to foreclose, because they tricked those poor minority borrowers into borrowing more than they could pay.

2007 cartoon:

[CutePuppy]

... In reality, the federal government during the last two years has essentially seized the banking industry. What the government doesn't do directly, it controls by regulation, intimidation, and by sheer force and power. Obama got in the car business, the health care business, the energy business, and he's got the government holding most of the cards in banking, too.

The full faith, credit and brute force of the Federal government and its "Social Justice Departments" on display. That's exactly what the economic fascism looks like.

No wonder Obama in his inane speeches likes to talk about and keeps referring to folks ("volks" - Ger.) - he may have in mind the infamous Third Reich's People's Court (Volksgerichtshof) which was set up by the Germany's Führer when he became unhappy with the outcome of Reichstag Fire trial and needed something extra constitutional for the show trials for various and broadly defined "political offenses". The actions of Eric Holder are little different from the Volksgerichtshof Judge-President Roland Freisler, only he is presiding over the demise of the financial system and the financial institutions which are branded to be "racist".

One of the first show trials was filing charges / prosecution by SEC of Goldman Sachs, just before the thoroughly corrupt "Financial and Banking Reform and Takeover" (FaBRaT aka FinReg aka Dodd-Frank) bill was going through the Congress, which was "settled" for a cool U$D half-billion and change the day after FaBRaT passed. Two people (Christopher Dodd and Barney Frank) who were at the center of protecting GSEs which were at the center of the mortgage and consequent financial liquidity crises, not only were allowed to cover up their own and their party roles in the crises - they were the ones who were tasked with "fixing" the "problem" of too-big-to-fail banks and other financial institutions and writing major laws, rules and regulations covering and governing entire U.S. financial system.

Now, not only the administration is in process of shaking down... er, "settling" for Billions of U$Dollars with the banks who had the misfortune to originate the same loans that they were forced to make under CRA, "social justice" and "ownership society" mandates, they are forcing the surviving banks (big and small) to originate or finance the same kind of loans that caused the mortgage crisis in the first place.

This is not because these people don't know what they are doing or because they "didn't learn anything." On the contrary, they know exactly what they are doing, and they have learned long time ago that the power they gained and hold allows them to get away with it.

Power may corrupt ordinary people, but the already corrupt it corrupts absolutely.

[CutePuppy]

Step 1: Threaten to sue banks...

Step 2: ... threaten to sue the banks ...

Step 3: Start over from Step 1.

[XHogPilot]

This is absolute insanity!