After Citi (bank, corp, group or whatever it was at the time) was sued by Obama for not giving loans to low-income folks, I imagine they had got a bit gun-shy on refusing loans. (So send them all to jail!)
***After Citi (bank, corp, group or whatever it was at the time) was sued by Obama for not giving loans to low-income folks, I imagine they had got a bit gun-shy on refusing loans. (So send them all to jail!)***
I don’t know if 0bama was directly related to forcing banks to give such loans, but I’ll be glad to hear if you have any citations about it. But, I DO know that Jimmah Carter started it all with a law that imposed LARGE FINES on the banks for refusing to grant mortgages to people who could not repay them. Then Clinton made it much stiffer and with even larger fines. Some of the people at the banks were innocent. The greed came later. And the greed was big time.