Two of the biggest financial fraud cases in history that targeted big banks are being undermined by a Justice Department-inspired "slush fund" that allows the banks to reduce their financial obligations by hundreds of millions of dollars while funding left-wing charities and nonprofits. It's a complex system that should be illegal – except it isn't, thanks to DoJ's decision to ignore the letter of the law to allow the banks to give money to their political allies. Washington Examiner: In a little-noticed November report, Bank of America announced that it had donated more than $60.1 million to various charitable funds and nonprofit groups. The donations were a good deal for Bank of America. For every dollar the bank gives, an independent monitor for the deal credits the bank with $2 toward the record $16.6 billion settlement with the Justice Department on financial fraud charges it signed in August 2014. To date, the donations have reduced that...(Read Full Post)