[Ed. – Most transparent — and honest — administration ever]
Former President Obama’s Department of Justice sought to route settlement money to organizations of their “choosing” while seeking to exclude conservative groups, documents obtained by the Washington Free Beacon show.
The practice in question began in August 2014 when the Justice Department entered into a $17-billion settlement with Bank of America for selling residential mortgage-backed securities leading up to the 2008 financial collapse. Similar arrangements were made with J.P Morgan Chase and Citigroup that brought the total amount to $36.65 billion.
The DOJ settlement program has come under fire by a number of critics who refer to it as a “slush fund” that allows money to be funneled to third-party activist groups.
In some cases during settlement, the companies agreed to pay financial penalties that consisted of “donations” to nonprofits instead of giving the money directly to the Treasury. The Bank of America and Citigroup settlement included a provision that required $150 million in donations to groups that help people who have been harmed by corporate actions, with the donations counting for twice as much as money that is paid towards the settlement total.