Skip to comments.The JPMorgan Shakedown Includes Acorn-Style Kickback
Posted on 12/04/2013 10:16:55 AM PST by SeekAndFind
Extortion: Just when we thought its post-crisis probe of banks couldn't get more corrupt, the Obama administration has cut radical Democrat groups in on the record $13 billion JPMorgan Chase subprime loan deal.
On Page 5 of "Annex 2" of the recently released consent order, you'll find this little gem: The Justice Department mandates that JPMorgan fork over any unclaimed or unpaid consumer damages to a nonprofit group that finances Acorn clones and other shakedown groups.
They stand to reap millions. The "consumer relief" portion of the deal by itself totals $4 billion.
If the government "determines that a shortfall in that obligation remains as of Dec. 31, 2017," the agreement states, "JPMorgan shall make a compensatory payment in cash in an amount equal to the shortfall to NeighborWorks America to provide housing counseling, neighborhood stabilization, foreclosure prevention or similar programs."
(Excerpt) Read more at news.investors.com ...
Roll gravy-train roll!
The community organizer in chief. Does he really know how to do anything else.
Don’t worry too much about Soro’s JPMorgan because that’s the bank that collects a percentage of every EBT transaction. Everytime the government goes through JPMorgan, it’s to launder stolen tax dollars back into their wallets.
Normally I let Captain Louis Rennault do the talking for me but this time I am not shocked in the least. And since jpmorganchase got a bailout anyway this is nothing more than the democrats laundering stolen tax dollars.