ACORN and Eric Holder

This just keeps getting better and better -- from Investors Business Daily:

Congress Warns Holder Over Acorn Payola
Thanks to IBD, Congress is finally probing the administration's shakedown of banks over alleged "lending discrimination." At issue is backdoor funding of Acorn clones.

Last week, House Judiciary Committee Chairman Lamar Smith fired off a three-page letter to Attorney General Eric Holder warning that his recent punishment of Bank of America's mortgage unit seemed political. In fact, he may have abused his power.

As IBD first reported Jan. 4, "BofA Must Pay Excess Settlement Funds To Acorn Clones," the $335 million lending-bias deal requires BofA to fork over a chunk of the payout to leftist groups not connected to the suit.

The unusual term is part of a secret Justice program to redistribute millions in settlement cash to third parties instead of alleged victims.

Critics told IBD it's a "political backdoor" to subsidize Democrat-tied bank shakedown groups.

A bit more:

The corrupt group, which has re-emerged under other names after coming under investigation in 2009, continues to receive federal funds. Acorn Housing Corp. got some $700,000 in federal money after changing its name to Affordable Housing Centers of America.

Last year, Holder also ordered two AIG-owned banks to pay a minimum of $1 million to "qualified organizations" that help "African-American borrowers."

More recently, he ordered C&F Mortgage Corp. of Virginia to reward such groups. As of 2010, some $7.6 million was waiting to be handed out from his unsupervised grant program. Recipients aren't restricted in how they use the money. In 2008, Acorn bankrolled get-out-the-vote operations for Obama.

What with Fast and Furious, I wonder if Holder is this corrupt or just plain stupid. Mixture of both...