The mob never dreamed of being able to get this kind of money in a single score. It is easy when you can abuse the power of the DOJ.

http://news.investors.com/i...groups.htm?p=full%20

quote Extortion: Radical Democrat activist groups stand to collect millions from Attorney General Eric Holder's record $17 billion deal to settle alleged mortgage abuse charges against Bank of America. Buried in the fine print of the deal, which includes $7 billion in soft-dollar consumer relief, are a raft of political payoffs to Obama constituency groups. In effect, the government has ordered the nation's largest bank to create a massive slush fund for Democrat special interests. Besides requiring billions in debt forgiveness payments to delinquent borrowers in Cleveland, Atlanta, Philadelphia, Oakland, Detroit, Chicago and other Democrat strongholds — and up to $500 million to cover personal taxes owed on those checks — the deal requires BofA to make billions in new loans, while also building affordable low-income rental housing in those areas. More at the link

http://online.wsj.com/artic...ettlement-1408626544

http://www.justice.gov/opa/...ugust/14-ag-884.html

I am not seeing where this money is going to specific groups (except in the editorial).... it looks like it will be used to correct the problems caused by BOA's actions.

FYI... check out the descriptors used.... I would be skeptical of this, but it is an editorial, after all. This guy doesn't have an agenda... no...

"If there are leftover funds in four years, the settlement stipulates the money will go to Interest on Lawyers' Trust Account (IOLTA), which provides legal aid for the poor and supports left-wing causes, and NeighborWorks of America, which provides affordable housing and funds a national network of left-wing community organizers operating in the mold of Acorn.

In 2011 alone, NeighborWorks shelled out $35 million in "affordable housing grants" to 115 such groups, according to its website. Recipients included the radical Affordable Housing Alliance, which pressures banks to make high-risk loans in low-income neighborhoods and which happens to be the former employer of HUD's chief "fair housing" enforcer ."

[This message has been edited by jaskispyder (edited 08-29-2014).]

BofA certainly took illegal and unethical actions with regards to many mortgages and deserved punishment, but that doesn't make graft in how those fines are assessed and spent ok.