Pay to Play Variant

Democratic Party Presidential candidate Hillary Clinton and her husband aren’t the only Democrats engaged in this.  Here’s a variant being employed by Democrat Attorneys General, as described in The Wall Street Journal, by Andy Koenig, a senior policy adviser at Freedom Partners Chamber of Commerce.

The administration’s multiyear campaign against the banking industry has quietly steered money to organizations and politicians who are working to ensure liberal policy and political victories at every level of government. The conduit for this funding is the Residential Mortgage-Backed Securities Working Group, a coalition of federal and state regulators and prosecutors created in 2012 to “identify, investigate, and prosecute instances of wrongdoing” in the residential mortgage-backed securities market. In conjunction with the Justice Department, the RMBS Working Group has reached multibillion-dollar settlements with essentially every major bank in America.

Three guesses where those billions of dollars are going.  The first two guesses don’t count.


[A] substantial portion is allocated to private, nonprofit organizations drawn from a federally approved list.

These government-favored organizations include Catholic Charities, La Raza, the National Urban League, the National Community Reinvestment Coalition, and so on.  Catholic Charities is completely apolitical and entirely decent, but they’re on the list solely to give cover to the presence of the others, which are blatantly political—and have entirely pro-Liberal agendas.

[T]hese groups engage in voter registration, community organizing, and lobbying on liberal policy priorities at every level of government. They also provide grants to other liberal groups not eligible for payouts under the settlements. Thanks to the Obama administration, and the fungibility of money, the settlements’ beneficiaries can now devote hundreds of thousands or even millions of dollars to these activities.

RTWT, there’s much more.  To emphasize: those settlements are little more than vig extracted for Obama administration causes as a price of being allowed to do business.

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