According to taxpayer watchdog group Cause of Action, the Obama Administration diverted thousands of dollars from a mortgage crisis settlement to non-profits who are helping to organize the anti-Trump resistance.
Although Cause of Action doesn’t specify whether the former President was instrumental in structuring the deal, they do claim that the Administration created an improper “slush fund” that took some of the money the Department of Justice won in cases against “big banks” for their subprime lending practices, and funneled it to third party interest groups, including National Council of La Raza and the National Urban League.
“During the Obama administration, groups committed to ‘revolutionary social change’ sent proposals and met with high-level HUD and Justice Department officials to try to get their pieces of the settlement pie,” Cause of Action Institute vice president Julie Smith told the New York Post.
That money was supposed to go into a fund to help victims of the “big banks” and their improper lending practices. After the housing bust and 2008 recession, the Obama Administration committed to making bankers pay for conning millions of people into adjustable rate mortgages, then foreclosing when those people couldn’t make payments.
But it’s clear that the organizations the Obama Administration trusted to do the job had bigger agendas, in line with the former President’s progressive ideas about community building. Now those same organizations are at the forefront of the so-called “Resistance,” and those fungible assets are, no doubt, coming in pretty handy for anti-Trump efforts.
According to Cause of Action, national pro-immigrant group, National Council of La Raza, received around $1.5 million from the scheme – and they’ve, most recently, used that in an aggressive campaign against the bipartisan plan to repeal DACA and increase border security measures. La Raza has also been fighting what they call an “immoral border wall,” and was one of several groups to send protesters to a Trump campaign rally in Chicago that turned violent.
The National Urban League has used its $2 million to help fund efforts against an Obamacare repeal, while the National Community Reinvestment Coalition has used their $2.6 million to oppose tax reform – and necessary privatization and regulation of government lending, which could help prevent another mortgage crisis.
A number of conservative organizations have joined forces to demand an accounting of this “slush fund,” and Attorney General Jeff Sessions says he will order a full investigation of how third party groups came to receive millions out of a fund meant to help those who lost their homes.
(First reported by the Daily Wire) http://www.dailywire.com/news/21499/money-men-taxpayer-watchdog-group-claims-obama-emily-zanotti (September 25, 2017)
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