Posted on 10/08/2008 9:31:36 PM PDT by WmShirerAdmirer
"...look at what some fellow bloggers have dug up while researching Obamas legal career. Looks like a typical ACORN lawsuit to get banks to hand out bad loans."
UPDATED: Obama sued Citibank Under CRA to Force it to Make Bad Loans
Do you remember how we told you that the Democrats and groups associated with them leaned on banks and even sued to get them to make bad loans under the Community Reinvestment Act which was a factor in causing the economic crisis (see HERE and HERE ) well look at what some fellow bloggers have dug up while researching Obamas legal career. Looks like a typical ACORN lawsuit to get banks to hand out bad loans.
In these lawsuits, ACORN makes a bogus claim of Redlining (denying poor people loans because of their ethnic heritage). They protest and get the local media to raise a big stink. This stink means that the bank faces thousands of people closing their accounts and get local politicians to lobby to stop the bank from doing some future business, expansions and mergers.
If the bank goes to court, they will win, but the damage is already done because who is going to launch a big campaign to get the banks reputation back?It is important to understand the nature of these lawsuits and what their purpose is. ACORN filed tons of these lawsuits and ALL of them allege racism.
Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011 State/Territory Illinois
Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982.
Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.
U.S. District Court Judge Ruben Castillo certified the Plaintiffs suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995).
Also on June 30, Judge Castillo granted Plaintiffs motion to compel discovery of a sample of Defendant-banks loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).
The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Plaintiffs Lawyers Alexis, Hilary I. (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Childers, Michael Allen (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Clayton, Fay (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Cummings, Jeffrey Irvine (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Love, Sara Norris (Virginia) FH-IL-0011-9000
Miner, Judson Hirsch (Illinois) FH-IL-0011-7500 | FH-IL-0011-9000
Obama, Barack H. (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Wickert, John Henry (Illinois) FH-IL-0011-9000
Excerpt from: Media Circus at: http://www.mediacircus.com/2008/10/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/
I opened my ML account statement for September.. I can just imagine the devastation the October statement will bring.. At least I have my health.. Oh, wait.. Well, at least I have FR!
Bookmark, thanks!
This needs to be a McCain/Palin ad.
Its been “out” for a while now. I myself sent off more than a few emails about it about a week ago. However, just like Acorn and Ayers, we have got to spread it far and wide and make it part of the Internet conciousness before the MSM will pick it up, which it eventually will. We got a few weeks to get’er done!
Yes, yes it is.
BTTT
bttt
Uh, I um, uh, you know, uh, -— this doesn’t count. I am Barack!
this is all over the web on dozens of blogs...trying to find it on something resembling the MSM is very difficult.
When sending links to suspicious liberals it is useful to have the source documents handy.
Good post. And I’m in my third reading of Rise & Fall, so I like the handle.
Because he’s an arrogant a-hole, he’s teflon coated, he’s a democRAT, the messiah..... need I say more? He’ll never get called on the carpet with this.
I emailed McCain, I hope he uses it.
That is such a cute picture!!!
I love it!!!!!
Thanks for the laughs!!
This needs to be a McCain/Palin ad.
With the title:
Do you want Obama “Change”? Just check your 401K!
Some people look at Snopes as gospel. I do not. For one thing they say it is a myth that soldiers were spit on and cursed at when they returned from Vietnam.
Wonder if Obama closed as many banks’ branches as Edwards closed doctors’ offices? My guess is that they’re tied. Socialist windbags both!
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