By Heritage Foundation —— Bio and Archives October 26, 2017
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President Barack Obama’s Justice Department created a “slush fund” of nearly $1 billion using legal settlements with banks and steered those funds to political allies on the left while excluding conservative groups, internal documents show.
The financial institutions, which made legal settlements with the Obama administration regarding mortgage securities that imploded during the 2008 financial crisis, include Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., and JPMorgan Chase.
Public records of the settlement agreements with the Justice Department show that when cash donations to liberal groups are combined with other donations in the form of loans and a separate settlement with Volkswagen of America Inc., the slush fund may have topped $3 billion. -- More...
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