Money Laundering

The $335 million lending-bias deal over presumed prejudicial mortgage decisions requires Bank of America to fork over part of the settlement to left leaning political groups not at all connected to the suit. This remarkable decision redistributes millions in settlement cash to third parties instead of alleged victims. The American Department of Justice wanted this as part of the decision. This is a fascinating way of moving money from one group of people to people completely uninvolved with the suit or its decision.

But in 2008 it was even worse; it was voluntary. In 2008, Bank of America donated $2 million to Acorn Housing Corp. of Chicago. It also gave $500,000 to the National Community Reinvestment Coalition of Washington and $300,000 to the National Urban League of New York. The Bank of America gave millions to their sworn enemies.

I'm a good citizen. No one called me with an offer.