With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chica

[Roger Bacon]

From another forum:

With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago's African-Americans

Originally posted by guohua

OH,,,, that's Right it was Bush's fault,,,,

Not totally it would seem.

President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.

There are court records here you can download: http://www.scribd.com/doc/104763206/Chicago-Buycks-Lawsuit-Plaintiffs

Obama’s lawsuit was one element of a national “anti-redlining” campaign led by Chicago’s progressive groups, who argued that banks unfairly refused to lend money to people living within so-called “redlines” around African-American communities. The campaign was powered by progressives’ moral claim that their expertise could boost home ownership among the United States’ most disadvantaged minority, African-Americans.

Sure everyone will agree,,, if you can afford to pay the monthly mortgage and utilities and some times an HOA fee,,, sure buy a home,,, put for the love of g@d you should be able to pay your bills,,,,,,,,,Not just giving to you because of your race,,,,,,

Don't read the following if you believe it was all  Bush's Fault:

Progressive activists’ ambition instead contributed greatly to a housing bubble that burst in 2007, crashed the nation’s economy in 2008, wiped out at least $4 trillion in equity, kept unemployment above 8 percent for four years, and damaged the intended beneficiaries of looser mortgage lending standards.

Meanwhile, the president has blamed the housing bubble on supposed GOP deregulation, even though President George W. Bush expanded the regulation-expanding, anti-redlining policies established by progressives during Bill Clinton’s presidency.

Link: http://dailycaller.com/2012/09/03/with-landmark-lawsuit-barack-obama-pushed-banks-to-give-subprime-loans-to-chicagos-african-americans/

If you believe Obama cares about the Little people or at-least the Plaintiffs in this case, don't read this link either.

http://dailycaller.com/2012/09/03/obamas-african-american-clients-got-coupons-not-cash/

That's right, the Plaintiffs got no payday,,,,,,,,, but Obama and the other Lawyers did it would appear.

Yes, more than two Presidential Administration contributed to the failure of the housing bubble.
   

[Soul Crusher]

Thank you for this.   Hope and Change. 

[Soul Crusher]

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Subprime Bubble: Obama 'Vampire Socialism' Built It
IBD EDITORIALS ^ | September 4, 2012
Posted on September 4, 2012 8:22:00 PM EDT by raptor22

Housing Crisis: Previously unpublished court documents reveal that as a young lawyer from Chicago, President Obama's lawsuit against big banks started inflating the housing bubble that created the mess he says he inherited.

We have often written that the true roots of our current economic crisis lay in the excesses of the 1977 Community Reinvestment Act as redefined under the Clinton administration. We have explained how community outreach by banks, under pressure from groups such as Acorn, was transformed into the mandatory credit issuance based not of creditworthiness, but on the basis of "fairness."

"Redlining," the activists argued, was the antithesis of the American dream of owning a home. Moreover, they insisted, everyone had the "right" to own a home. So the banks were forced to issue loans to people who couldn't afford to pay them back. The banking system was forced to inflate a housing bubble that set us up for a near-catastrophic economic collapse.

This did not occur by accident, but by design at the hands of disciples of the Cloward-Piven strategy of overwhelming the system, causing it to collapse, then to be replaced by a worker's paradise of redistributed income with the individual totally subservient to the greater good.

Presidential candidate Barack Obama called it the "fundamental transformation" of America, and he was there when the seeds of collapse were planted.

The Daily Caller has obtained and analyzed previously unpublished court documents relating to a class-action lawsuit filed in 1995 by young attorney Barack Obama on behalf of three lead plaintiffs and 180 subsidiary plaintiffs against Citibank for alleged discrimination in lending practices.

(Excerpt) Read more at news.investors.com ...

[Vince G, CSN MFT]

From another forum:

With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago's African-Americans

Originally posted by guohua

OH,,,, that's Right it was Bush's fault,,,,

Not totally it would seem.

There are court records here you can download: http://www.scribd.com/doc/104763206/Chicago-Buycks-Lawsuit-Plaintiffs

Sure everyone will agree,,, if you can afford to pay the monthly mortgage and utilities and some times an HOA fee,,, sure buy a home,,, put for the love of g@d you should be able to pay your bills,,,,,,,,,Not just giving to you because of your race,,,,,,

Don't read the following if you believe it was all  Bush's Fault:
Link: http://dailycaller.com/2012/09/03/with-landmark-lawsuit-barack-obama-pushed-banks-to-give-subprime-loans-to-chicagos-african-americans/

If you believe Obama cares about the Little people or at-least the Plaintiffs in this case, don't read this link either.

http://dailycaller.com/2012/09/03/obamas-african-american-clients-got-coupons-not-cash/

That's right, the Plaintiffs got no payday,,,,,,,,, but Obama and the other Lawyers did it would appear.

Yes, more than two Presidential Administration contributed to the failure of the housing bubble.
   

The lawsuit had to deal with banks giving blacks predatory interest rates compared to whites and not giving them to those who qualified.  Those folks were going to go bankrupt and/or foreclose because of the predatory loans you fucking moron and it was before the lawsuit was settled. 

Before reading anything that is negative about Obama, why don't you get your facts straight

[Soul Crusher]

The lawsuit had to deal with banks giving blacks predatory interest rates compared to whites and not giving them to those who qualified.  Those folks were going to go bankrupt and/or foreclose because of the predatory loans you fucking moron and it was before the lawsuit was settled. 

Before reading anything that is negative about Obama, why don't you get your facts straight

False     obama knew these loans were mpre lik lyre y to default

[whork]

The lawsuit had to deal with banks giving blacks predatory interest rates compared to whites and not giving them to those who qualified.  Those folks were going to go bankrupt and/or foreclose because of the predatory loans you fucking moron and it was before the lawsuit was settled. 

Before reading anything that is negative about Obama, why don't you get your facts straight

He is a Neocon they dont know the meaning of "Facts"

[Soul Crusher]

He is a Neocon they dont know the meaning of "Facts"

STFU - obama is on tape knowing what was going to happen and Ill wager my accout vs your 50 gimmicks on it. 

[whork]

STFU - obama is on tape knowing what was going to happen and Ill wager my accout vs your 50 gimmicks on it. 

If your lose its your life you throw away