Holder fines bank $9 Billion, guess where the fine money goes?


Will someone ask Eric where are all the fines that he is collecting from banks going? I have a clue, and I will include it below in an old post. Today we hear that he has hit BNP Paribas bank with a big big fine. Maybe they deserve it. But the point is these fines are simply “walking around money” for his favorite charities such as Acorn. So here we go:

Wth a record $9-billion fine against BNP Paribas, one of the world’s largest banks, the Justice Department aimed Monday to send a clear message to bank shareholders everywhere.

“The $9 billion that’s walking out the door today is your money,” FBI Director James B. Comey said at a Monday news conference. Until shareholders hold corporate chiefs accountable for following the law, “the money will keep walking out the door.” (Better to go to Acorn)

The conviction contrasts sharply with a series of large settlements with U.S. banks linked to the financial crisis, as well as with foreign banks such as Britain’s HSBC, which was accused of widespread money-laundering violations. With no criminal components, those cases have been attacked as comparative “wrist slaps” by Sen. Elizabeth Warren (D-Mass.), among other critics. (Ed: Really Liz? A Slap?)  More at LA Times

But let us take a ride in my way back machine from an old post and let me know if this was a slap:

December 11, 2013 — bunkerville 

A little reported story rang a bell, and I headed in time: Recall JPMorgan Chase – first bank takedown by Obama? $13 Billion fine posted October 22, 2013? Want to know where the money went? Yepper, Acorn like groupies. But this is not the first extortion. Eric has been extorting money from them for years. Here’s a list of what the fines and settlements have cost JPMorgan Chase to date in the fallout of the 2008 financial crisis. Keep in mind the loans were not loans JPMorgan made, but loans they absorbed through the purchase of outside assets that were questionable.

Oct. 2013: $100 million.

Sept. 2013: $920 million

Sept. 2013: $389 million

July 2013: $410 million

January 2013 and Feb. 2012: $1.8 billion

November 2012: $296.9 million

August 2012: $1.2 billion

April 2012: $20 million

August 2011: $88.3 million

July 2011: $228 million

June 2011: $153.6 million

April 2011: $56 million

June 2010: $48.6 million

 

Rather than simply settling for the smug satisfaction of seeing some Wall Street Fat Cats get taken down a peg or two, how about getting your hands on some of the cash yourselfHot Air tells us the facts.

It seems Attorney General Eric Holder has created a multi-million dollar backdoor kickback for activist groups in the $13 billion JP Morgan Chase subprime loan deal recently settled, WND reports.

It appears the Obama administration has a strategy for reviving subprime mortgage lending by coercing banks to fund community organizing groups that may once more put low-income families into mortgages beyond their means.

But wait… you can’t just take the penalty money and hand it out to your friends, can you? According to the breakdown from Investors.com, apparently you can.

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.”

Potentially billions could be distributed to Democrat activists through NeighborWorks, a government-funded “affordable housing” group that supports a national network of left-wing community organizers operating in the same vein as Acorn.

Breakdown of fines over at USA Today

 Here is a clip that gives us the take down. October, 2013 dated.
Is Obama Admin Targeting JP Morgan For Criticizing Obama Admin & Dodd-Frank)

A tidbit below of our gal Val and Schultzy from my way back machine:

Dem. Chair Invested in Swiss Banks, Jarrett has Bermuda line of credit

July 11, 2012

Disclosure forms reveal that Democratic National Committee chair Debbie Wasserman Schultz, a member of Congress from Florida, previously held funds with investments in Swiss banks, foreign drug companies, and the state bank of India. This revelation comes mere days after the Democratic chair attacked presumptive Republican presidential candidate Mitt Romney for holding money in Swiss bank accounts in the past. H/T: Weekly Standard

White House adviser Valerie Jarrett’s recent financial disclosure form lists a line of credit from a Bermuda insurance company, according to ABC News: Now why would she need this? Anyone want to guess.

Valerie Jarrett’s financial disclosure form filed May 4 lists a line of credit from a Bermuda insurance company valued between $100,000 and $250,000.

We’ve asked the White House what exactly this mark is, and we’re waiting to hear back. … 

Jarrett is one of Obama’s closer advisers and has been with him since he was sworn in. In a lengthy New York Times profile in 2009, an Obama campaign official said that “there are two people he’s not going to say no to: Valerie Jarrett and Michelle Obama.” Washington Free Beacon

14 Responses to “Holder fines bank $9 Billion, guess where the fine money goes?”

  1. VIDEO Shut Down ISIS, Shut Off the Money, WhistleBlower Terrorism Financed by HSBC and JP Morgan – Holder FINED banks | Reclaim Our Republic Says:

    […] https://bunkerville.wordpress.com/2014/07/14/holder-fines-bank-9-billion-guess-where-the-fine-money-g… […]

    Like

    • Jackie Cox Says:

      Crime is crime. Oblowme,,holder political grandstanding with american taxpayer money is a crime, pure and simply crime, by those responsible for prosecuting such crime. Allowing it to happen is a conspiracy to cause mm itt the same crime if your in a position to make a criminal compliant to congress, any federal judge or,make a citizens arrest while a grand jury investigates the case

      It shames me to live in a country here crime is a daily event for the top lawmakers of our nation.

      Like

  2. Petermc3 Says:

    For these banks who continue to support this regime, thees fines are “a mere bag of shells” to quote Ralph Kramden. For Jamie Dimon and the rest of his crew this chump change is the price they pay to keep doing what they are doing.

    Like

    • bunkerville Says:

      Agree entirely. Collusion same as the EPA and the wacko greenies that they settle with out of court.

      Like

  3. Jersey McJones Says:

    Wow. You guys have some serious hatred in you.

    Revenues raised from fines commonly go to support the communities who suffer the damages from the violation that generated the fine. Sin taxes work similarly. So, for example, police departments get funding from traffic fines. In the case, the money from violations in the way real estate is financed goes to organizations working to get people into their homes.

    It’s really sad to see how you guys can froth and freak out over something like this. I’ve never sen the Right so blinded by hate as they are these days.

    JMJ

    Like

    • bunkerville Says:

      You dont get it. Too bad. The banks and Holder are in collusion with these so called “settlements”. Holder extorts, and the banks continue to rip everyone off. Too bad they don’t go to court and have real real criminal charges placed.

      Like

      • Jersey McJones Says:

        bunkerville, when you consider the extent of the damage some of these financial bad actors wrecked, it is by the sheer grace of a truly uninformed public that any of them even have their heads. Holder is doing his job. This isn’t collusion. It’s just the best outcome an AG could get given a political climate heavily influenced by these same bad actors. You guys just see bogeymen everywhere these days. Today’s conservative is the single most distracted person in the world, save maybe only for the religious terrorist. Not a single constructive thing to do.

        JMJ

        Like

    • the unit Says:

      Probably shouldn’t respond, but since I’m his first racist here.

      Like

      • bunkerville Says:

        Good pick!

        Like

  4. Steve Dennis Says:

    It looks like he has a nice little slush fund going on here, doesn’t it?!

    Like

    • bunkerville Says:

      Indeed, and we are indeed a Nation of cowards not to take him on about it.

      Like

      • Steve Dennis Says:

        Yeah, maybe he waa right all along with that comment…

        Like

  5. Conservatives on Fire Says:

    So, how do I register to be a ccommunity organizer?
    What a ripoff!

    Like

    • bunkerville Says:

      All I need to do anymore is rip off some of my old posts. Nothing has changed, no one is outraged.

      Like


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