Time For House To Pass Rep. Bob Goodlatte's H.R. 5063 Against 3rd Party Legal Settlements
. . . Stop Using Our Money to Fund Left Wing Organizations Like The National Council of La Raza
Fairfax, Va. - Americans for Limited Government President Rick Manning today issued the following statement praising Chairman of the House Judiciary Committee Rep. Bob Goodlatte (R-Va.) for his legislation, H.R. 5063, the Stop Settlement Slush Funds Act of 2016:
"House Judiciary Committee Chairman Robert Goodlatte's unrelenting work to stop the Obama Administration from using mortgage company settlements stemming from the housing crisis to fund left wing advocacy groups to the tune of millions of dollars is an example for the rest of the GOP Conference in fighting Obama's incessant overreaches.
"The slush fund issue came to light during Bank of America's enormous $17 billion settlement when it was revealed that as much as $490 million was slated to go to radical groups like The National Council of La Raza for community outreach. (See Editor's comment at the end of this press release.) It makes these lawsuits look like little more than extortion to shake down corporations to make donations to Obama-favored political causes.
"Last year, it was Chairman Goodlatte who led the effort to encourage Speaker Paul Ryan to include language in the Omnibus Spending bill prohibiting the establishment of far left slush funds as a condition of settling mortgage cases. Unfortunately, the Obama, Ryan, McConnell spending bill failed to rein in this abuse of power by the Administration.
"Undeterred, Chairman Goodlatte has again taken the lead this year to try to prevent the Justice Department from using the legal settlements as a cudgel to compel mortgage companies to fund third party groups, instead preferring that those monies be directed to the aggrieved homeowners. All of Congress should join him in supporting passage of HR 5063."
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ARRA News Service Editor: These deceptive type settlements allowing the taxpayers (our) money being provided to third parties is not new. Congress previously shook down the banks (even those who didn't need bailouts) using the American taxpayers money while intending after the payback of "so called profits" (the excess money they made via interests paid by the banks) being used to fund private left-wing non-profits. On September 25, 2008, the ARRA News Service broke the story related to the Democrat's Bank Bailout Agreement The following excerpt is from that story:In the "agreement in principle," there is the effect of a major "earmark" which commits money from future "profits" to be given to nonprofits organizations like ACORN, National Council of La Raza and potentially the National Urban League. This agreement clearly evidences that the Government expects to benefit in the future from the bailout when the values of property rises and mortgages or properties are then sold by the Federal government."
Tags: big government, funding, radical orgs, La Raza, U.S House, Hr 5063, Against 3rd Party Legal Settlements, Americans for Limited Government, President Rick Manning To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!
Fairfax, Va. - Americans for Limited Government President Rick Manning today issued the following statement praising Chairman of the House Judiciary Committee Rep. Bob Goodlatte (R-Va.) for his legislation, H.R. 5063, the Stop Settlement Slush Funds Act of 2016:
"House Judiciary Committee Chairman Robert Goodlatte's unrelenting work to stop the Obama Administration from using mortgage company settlements stemming from the housing crisis to fund left wing advocacy groups to the tune of millions of dollars is an example for the rest of the GOP Conference in fighting Obama's incessant overreaches.
"The slush fund issue came to light during Bank of America's enormous $17 billion settlement when it was revealed that as much as $490 million was slated to go to radical groups like The National Council of La Raza for community outreach. (See Editor's comment at the end of this press release.) It makes these lawsuits look like little more than extortion to shake down corporations to make donations to Obama-favored political causes.
"Last year, it was Chairman Goodlatte who led the effort to encourage Speaker Paul Ryan to include language in the Omnibus Spending bill prohibiting the establishment of far left slush funds as a condition of settling mortgage cases. Unfortunately, the Obama, Ryan, McConnell spending bill failed to rein in this abuse of power by the Administration.
"Undeterred, Chairman Goodlatte has again taken the lead this year to try to prevent the Justice Department from using the legal settlements as a cudgel to compel mortgage companies to fund third party groups, instead preferring that those monies be directed to the aggrieved homeowners. All of Congress should join him in supporting passage of HR 5063."
-------------
ARRA News Service Editor: These deceptive type settlements allowing the taxpayers (our) money being provided to third parties is not new. Congress previously shook down the banks (even those who didn't need bailouts) using the American taxpayers money while intending after the payback of "so called profits" (the excess money they made via interests paid by the banks) being used to fund private left-wing non-profits. On September 25, 2008, the ARRA News Service broke the story related to the Democrat's Bank Bailout Agreement The following excerpt is from that story:
Tags: big government, funding, radical orgs, La Raza, U.S House, Hr 5063, Against 3rd Party Legal Settlements, Americans for Limited Government, President Rick Manning To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!
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