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/

[littlehouse36]

 

 

 

 

 

[A. Patriot]

Here is the original link.

http://clearinghouse.wustl.edu/detail.php?id=10112

[VigilantAmerican]

Google “The Cloward-Piven Strategy.”

You will understand.

[Engineer_Soldier]

Glenn Beck was first with this on his awesome, awesome, awesome radio show days ago. I kept waiting for McCain or “his friends” in the press to say something, but heard nothing.

[painter]

Bump

[Red in Blue PA]

Get this into a commercial pronto!

[NY.SS-Bar9]

this needs to be forwarded to Hannity...now!

Don't bother, MSNBC will have this as "Breaking News" before he hits the airwaves.

[truthandlife]

There is so much on this guy that it is hard to even stick with one thing. McCain and the GOP have to figure out what to stick with this last month and pound it.

[popdonnelly]

“The lawsuit seems to have targetted the redlining practice.”

Have you read the complaint? That seems like the logical place to start before telling us what the lawsuit was about.

[tutstar]

bump

[tutstar]

gnip...

[kinsman redeemer]

Beeber?

Logged in?

C-o-u-l-d b-e a-n-y-t-h-i-n-g.

[Antoninus]

Obama is part of the problem. Change? Ha! What a joke.

[Carry_Okie]

THIS is a thing of great beauty.

Does anybody have the original pdf posted?

[twhitak]

Big stuff if this can be corroborated.

Wouldn't it be a matter of public record?

[davidlachnicht]

I have sent an official challenge to Snopes.com, who characterize this as FALSE accusation:

"I never thought I'd see the day, but I have to DISAGREE just a bit about something in one of your explanations.

Under "Barack Obama - The Loan Arranger" you state...

"The case was eventually settled out of court,... Citibank agreeing to help ease the way for low- and moderate- income people to apply for mortgages."

Why? If the case is about race, then for Citibank a compromise settlement would not be about income-level loans, it would be about a commitment to watch over the process better, diversity training, or some other race-related policy changes.

Citibank's side of the settlement makes it specifically about the income-level of they're loaning practices.

I have no doubt the plaintifs were wronged, at least in part, by suspicions on the part of Citibank personnel, but the RESULT of the lawsuit did force Citibank down the bad-loans road. And I'm sure the settlement included proving to some watchdog group that corrections had been made, and I doubt they'd accept "no loans to any-color poor people" as the spirit of the intent of this settlement."

[GreyFriar]

ping

[Free Bee]

I just sent emails to all of the above. EVERYONE, flood them with Freepmails ASAP!

[tomnbeverly]

Obama Misleads, Misrepresents, Lies and Panders and tells everyone to look the other way by accusing them of distration? Who is the real distractor?....

Media won’t help because you can’t question Obama or you are obviously a racist.

Imagine what a Marxist Socialist study of Saul Alinsky, Ayers, and Jeramiah Wright, could do with that kind of POWER and ambition. Chavez did the exact same thing in Venezuela and the Left hearlds him as a hero.

Obama = Chavez.

[longtermmemmory]

OBAMA HAS A RADIO COMMERICAL BLAMING MCCAIN FOR THE LACK OF OVERSIGHT!!!

really!!

(it also blasts the irquis for building a feris wheel)