“Imagine if a Republican administration directed billions of dollars of ‘small business relief’ into the coffers of the U.S. Chamber of Commerce, the National Federation of Independent Business and the national Restaurant Association, all while hiding the details from the public. The media and political outcry would be severe.”
Yet this is basically what the Obama administration is doing with the $127 billion it has extracted from major banks and other companies in reaction to the financial crisis, according to Investor’s Business Daily.
Settlements wrested from the banks include “consumer relief” sections which direct money toward public programs including one housing counseling agencies program whose budget was eliminated by Congress in 2014.
Read the full story here.