Jerome R. Corsi
December 5, 2013
In the new $13 billion JP Morgan Chase subprime loan deal with the Justice Department, Attorney General Eric Holder appears to have designed a multi-million dollar, backdoor kickback for activist groups like the disgraced community organizer ACORN.
Critics say the Obama administration has learned nothing from the mortgage meltdown in 2008-2009, which was prompted by the default of subprime loans packaged into financial instruments.
Instead, the administration is engineering a strategy to revive the subprime mortgage market by forcing banks to fund left-wing community organizing groups that would once again place low-income families into mortgages they can’t afford.