Guilty! "Obama Sued Citibank to Force it to Make Bad Loans"

Media Circus via Gabrielle Cusumano/Townhall ^ | October 3, 2008 | Fellow Bloggers to Media Circus

[WmShirerAdmirer]

"...lo­o­k­ at what so­me fello­w blo­g­g­ers hav­e d­u­g­ u­p­ while researc­hin­g­ O­bama’s 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 O­bama’s 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 ban­k­’s 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-ba­nk­’s 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.

P­la­int­iff’s 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/

[WmShirerAdmirer]

Same article can be found here: http://iusbvision.wordpress.com/2008/09/30/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/ and http://www.mediacircus.com/2008/10/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/ and here http://www.redcounty.com/sarasota/2008/10/obama-sued-citibank-under-cra/

[celtic gal]

Did anyone send this to Saracuda? She would get on it..McC would just let it slide.

[celtic gal]

And Bill O’R..his hair will be on fire about this one.

[Sundog]

Thanks for the links to the articles where Obama acted as the lawyer to sue to enable bad loans.

[igoramus08]

"ACORN was also a driving force behind a 1995 regulatory revision pushed through by the Clinton administration that greatly expanded the CRA and helped spawn the current financial crisis." IBD Editorials

"The Woods Fund report makes it clear Obama was fully aware of the intimidation tactics used by ACORN's Madeline Talbott in her pioneering ["community organizer"] efforts to force banks to suspend their usual credit standards. Yet he supported Talbott in every conceivable way. He trained her personal staff and other aspiring ACORN leaders, he consulted with her extensively, and he arranged a major boost in foundation funding [via CAC and Woods Fund] for her efforts." [NYPost]

[FrdmLvr]

There must be a connection to Jesse Jackson’s Rainbow Coalition, a Chicago based community organization that used the same tactics to shake down businesses in the 90’s. If a connection can be made to that slime ball Jackson, it would ad more fuel to the fire.

[chuckles]

I've been sending it for a week or so now, nobody has said a peep. I also sent the Odinga info to EVERYONE, nada nuttin. It will be on Hanity and Colmes Monday. If someone besides Hanity doesn't pick this stuff up, it will be laughed off. The Corsi guy wil just be last term's “swiftboater” if it doesn't get carried by Rush or someone else. Now we have written proof that Obama was a “New Party” ( Socialist party) candidate. It won't matter if it just floats around a few blogs.

I also sent the proof that Citi Bank, while begging for gubmint money, gave $1 million to La Raza on Sept 30, 2008. The AIG CEO's got ripped for just $500k for a spa trip and Citi donates $1 million to La Raza and not a peep. The media is just dead. Nobody cares.

Reckon Bwarney Fwank will grill Citi folks for giving money to La Raza while claiming "brokeness"?

[Maelstorm]

This I think is an important story. I wonder if this is what Obama meant by “community organizing”.

[WmShirerAdmirer]

Here is another link to the story, it is at Hot Air at:
http://hotair.com/archives/2008/09/29/what-does-a-community-organizer-do-pressure-banks-to-make-bad-loans/

[Salvation]

Big stuff if this can be corroborated.

[dila813]

this is the real smoking gun

[maine-iac7]

http://iusbvision.wordpress.com/2008/09/30/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/

ALSO:
“I’ve been fighting alongside ACORN on issues you care about my entire career. Even before I was an elected official, when I ran Project Vote voter registration drive in Illinois, ACORN was smack dab in the middle of it, and we appreciate your work.” — Barack Obama, Speech to ACORN, November 2007

get this info to the media and the campaign

[maine-iac7]

“This is huge and needs to be spread everywhere”

This is out GOLDEN GOOSE EGG to let America know who was in the thick of the whole fiasco from the get go - these were the NINJA loans (No income No job needed) that then got shifted over to Fannie & Freddie - who rewarded obamama handsomely...2nd highest beneficiary.

http://iusbvision.wordpress.com/2008/09/30/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/

(Also, a direct quote from obamama - connection to voter fraud tactics;

“I’ve been fighting alongside ACORN on issues you care about my entire career. Even before I was an elected official, when I ran Project Vote voter registration drive in Illinois, ACORN was smack dab in the middle of it, and we appreciate your work.” — Barack Obama, Speech to ACORN, November 2007

OKAY FOLKS - this may be our last shot to wake up America. They’re paying attention to the economic mess - let’s let ‘em know where to point the finger.

FOX is stepping up to the plate and really exposing the demRATS and ‘bambi. Let’s keep FREEPING them info.
Remember the formula of the networks: The office people that screen the emails only pass them on when they get X-amount on a given subject.

So this is OUR part - WE the PEOPLE - in protecting our freedoms.

hannity@foxnews.com

oreilly@foxnews.com

Special@foxnews.com

ElRushbo@eibnet.com

ontherecord@foxnews.com

letter@charleskrauthammer.com

me@glennbeck.com

and the McC/Sarah campaign at:

info@McCainPalinVictory2008.com

Be sure to add your name and town and email - or they won’t read them.

IMPORTANT when emailing. they won’t read mass emails - SO,

put just one email add in the “to” line then click on BBC at the end of that line. a BCC line will open just above subject line. copy paste the rest of the addresses in there and each recipient will see ONLY their name - and in the subject line make reference to ___________________

Let’s make it happen. This is our part in protecting our freedoms = WE THE PEOPLE - we act now or get ready for Jack Boots and Brown Shirts...Obama already has his personal police force plans ready

copy the email addresses for use for the rest of the campaign

[maine-iac7]

“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 ban­k­’s 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. “

Shades of Jesse J.

The shakedown - and ‘bambi was in the thick of it.

Also see this link - and a quote by him last year at ACORN.

http://iusbvision.wordpress.com/2008/09/30/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/

“I’ve been fighting alongside ACORN on issues you care about my entire career. Even before I was an elected official, when I ran Project Vote voter registration drive in Illinois, ACORN was smack dab in the middle of it, and we appreciate your work.” — Barack Obama, Speech to ACORN, November 2007

His fingerprints are all over both scandels in the news - actually 3 - the Corsi Odinga Obama one also.

let’s get the emails to the media going.

This is where the US of the U.S. - the WE of WE the PEOPLE - get to do our part to save our freedoms

[Allegra]

Just for grins, check this thread out.

If these things grow legs, we're sittin' pretty. :)

[WmShirerAdmirer]

Resend those emails! You were right on it first and they (news media) you sent items to “must” listen, bloggers like you are our only hope! Kudos for being on top of it before the rest of us, keep up the good work!!!

[jveritas]

This will destroy Obama. Send it to radio talk shows. Also this deserve to be in the Breaking News section.

[Lurker]

For later.

L

[Admin Moderator]

Moved to Breaking. Thanks.

[McGruff]

McCain mentioned Obama’s ties to Fannie May and Freddie Mac during the last debate. Now he needs to say something like “Obama sued Citibank Under CRA to Force it to Make Bad Loans”.