[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.

[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.

[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]

“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. :)

[jveritas]

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

[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”.

[Old Sarge]

Now if we can only find a way to link this to the OJ Simpson Trial, Faux News would be all over this like the funk on Obama’s plane!

[jamz]

The lawsuit seems to have targetted the redlining practice.

Basically...white and black with equal credit histories receiving different loan results.

I don’t see this as a smoking gun.

[aculeus]

bttt

[onemiddleamerican]

Cool! Now if the McCain campaign would take this news and run with it... what the Hell; pile all this crap on Obama all at once, ACORN vote fraud, ACORN housing fraud, market collapse, Weather Underground, Rezko...

[NautiNurse]

A gold medal story!

[GalaxieFiveHundred]

[Notwithstanding]

The court's ruling advanced Obama's argument parphrased here:

If a community bank is in an area with a lot of poor people who could never qualify for a real mortgage, and most of those people are black, then the bank is racist and has to give them mortgages anyway.

====================================================

Below is the actual court ruling that certified all blacks seeking a mortgage as a "class" in a class action lawsuit against the banks - which is devastating to the defendant bank:

In this case, the sole legal theory underlying Plaintiffs' claims is that Citibank's alleged redlining policy, coupled with its discriminatory pattern of denying home loans to African-American applicants, violates the Equal Credit Opportunity Act, the Fair Housing Act, and the Plaintiffs' constitutional rights under the Thirteenth Amendment.

Citibank opposes certification on the basis of typicality by arguing that:

[e]ach decision to grant or deny a mortgage loan application depends upon a myriad of individual facts including income, existing credit obligations, credit history, employment history, the amount of financing being sought, and the value of the property being financed. Proof that Citibank allegedly applied its lending criteria in a discriminatory fashion to one applicant would not establish that any other rejected applicant was qualified to receive a loan under Citibank's lending criteria or that Citibank discriminated in applying its lending criteria to that applicant.

See Def.'s Opp. at 9. In particular, Citibank argues that neither injunctive nor compensatory relief can be fashioned for an entire class “absent a challenge to a particular Citibank underwriting criteria.” Id. According to Citibank, without such a challenge, the Plaintiffs' cannot prove discrimination, because the “plaintiffs must demonstrate that their claims are based upon the same core of factual allegations such that proof of one plaintiff's claims would establish the bulk of the elements of each class member's claims.” See Citibank's Suppl.Mem. at 3-4 (citing Allen, 828 F.Supp. at 553).

Once again, Citibank misses the point. It is the allegedly discriminatory subjective application of Citibank's neutral underwriting criteria as a whole that may have adversely impacted the class. Plainly, the named plaintiffs' claims arise out of the same alleged course of conduct giving rise to the claims of the other class members. Although Citibank may ultimately prove that they did not engage in a pattern of race discrimination by rejecting African-Americans' applications for home loans, the determination of whether the named plaintiffs are typical class members for purposes of class certification does not depend upon resolving the merits of this case. The typicality requirement is satisfied because the named representatives' claims have the “same essential characteristics” as the potential class, i.e., they were African-Americans who were allegedly denied home loan based upon their race or the racial composition of their neighborhoods.FN14

FN14. In fact, Citibank's argument that different types of underwriting criteria may have been applied to applicants based on an “individualized treatment of the [applicant's] circumstances,” see Citibank's Suppl.Mem. at 5, simply lends credence to Plaintiffs' theory that the neutral underwriting criteria were being applied to the class members with considerable subjectivity. If the statistical evidence shows that the class members were given “individualized treatment” based on “circumstances” related to their race or the racial composition of their neighborhoods, then Plaintiffs' claims may be valid.

[6SJ7]

People may or may not care about Odinga or Ayres, but they sure as hell care when their 401k has been destroyed. Now we find Obama helped trigger the avalanche.

[littlehouse36]

 

 

 

 

 

[A. Patriot]

Here is the original link.

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

[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