With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s

Discussion in 'Politics' started by SniperFire, Sep 3, 2012.

  1. SniperFire
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    SniperFire Senior Member

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    '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.

    As few as 19 of those 186 clients still own homes with clean credit ratings, following a decade in which Obama and other progressives pushed banks to provide mortgages to poor African Americans.'


    With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans | The Daily Caller


    Sweet job, fucktard.
     
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  2. SFC Ollie
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    SFC Ollie Still Marching

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    Thank you Mr President....

    Now watch the MSM bury it and the left spin it.........
     
  3. plant
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    plant VIP Member

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  4. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Not surprising in the least.
     
  5. JoeB131
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    JoeB131 Diamond Member

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    So he made banks follow the law....

    Yeah, I guess that's bad and stuff.

    Should point out that a lot of folks in good neighborhoods got foreclosed upon.
     
  6. SniperFire
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    SniperFire Senior Member

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    Of course, Owebama owes much of his legacy of destruction of mortgage lending standards to Slick Willy and his revisions of the Community Reinvestment Act!
     
  7. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    The best part is that some think ObamaClone Romney is gonna' fix all that!

    :rofl::rofl::rofl:
     
  8. Care4all
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    Care4all Warrior Princess Supporting Member

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    less than 10% of the foreclosures are for red lined/black peoples mortgages..........

    More than 90% OF FORECLOSURES are NOT for poor people in red line districts...

    A BIG FAIL on the Daily Caller Media Rag
     
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  9. kyzr
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    kyzr Gold Member

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    EXACTLY. Don't forget the dems' cash cows Fannie & Freddie as enabled/protetced by Barney Frank and the senate dems. IMHO the dems had more to do with the actually causing financial crisis than the GOP.
     
  10. JoeB131
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    JoeB131 Diamond Member

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    That's exactly right.

    The problem was not that poor people were allowed to buy houses because the banks were required to give them loans if they lived in teh wrong neighborhoods.

    The problem is places like where I live, where the developers threw up these huge "McMansions" with wood frames and fake stone facades that they sold to people who were hoping to flip their investment in a couple of years.
     

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