- Prison Planet.com - http://www.prisonplanet.com -
With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans
Posted By admin On September 3, 2012 @ 2:53 am In Money Watch | Comments Disabled
Daily Caller 
Sept 3, 2012
President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.
As few as 19 of those 186 clients still own homes with clean credit ratings, following a decade in which Obama and other progressives pushed banks to provide mortgages to poor African Americans.
The startling failure rate among Obama’s private sector clients was discovered during The Daily Caller’s review of previously unpublished court information  from the lawsuit that a young Obama helmed as the lead plaintiff’s attorney. [RELATED: Learn about the 186 class action plaintiffs] 
Since the mortgage bubble burst, some of his former clients are calling for a policy reversal.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/with-landmark-lawsuit-barack-obama-pushed-banks-to-give-subprime-loans-to-chicago%e2%80%99s-african-americans.html
URLs in this post:
 Daily Caller: http://dailycaller.com/2012/09/03/with-landmark-lawsuit-barack-obama-pushed-banks-to-give-subprime-loans-to-chicagos-african-americans/
 previously unpublished court information: http://www.scribd.com/doc/104763206/Chicago-Buycks-Lawsuit-Plaintiffs
 Full article here: http://www.weeklystandard.com/blogs/rasmussen-romney-48-obama-44_651478.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.