Obama Sued Banks To Force Them To Issue Sub-Prime Loans

Obama: Giving loans to people that cant afford them A good Idea!

Obamas own word about how giving loans out to people that cant afford it is a good idea..
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

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

LiveLeak.com – Obama: Giving loans to people that cant afford them A good Idea!

Obama is still blaming Bush for what Obama did himself.

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23 Responses to Obama Sued Banks To Force Them To Issue Sub-Prime Loans

  1. GoneWithTheWind says:

    Then after the debacle you sue the largest bank left standing for $13 billion and distribute it to organizations that claim to be helping the people that were harmed but are really fronts for far left (communist/socialist/fascists) activists.

  2. genomega1 says:

    Reblogged this on News You May Have Missed and commented:
    Obama Sued Banks To Force Them To Issue Sub-Prime Loans

  3. Gunny G says:

    Reblogged this on Dick.G: AMERICAN ~ BLOGGING BAD… and commented:
    GUNNY G!
    *****

  4. SMS says:

    I believe the housing mess started under Jimmy Carter with the passing of the Credit Reallocation Act. Ignored by Presidents Reagan and W. Bush, it was Bill Clinton who resurrected this piece of dung legislation.
    When President George H Bush became aware of the abuses of the free credit and the implications to the economy, he tried to stop its further implementation. But Congressman Frank refused to allow the stoppage of the “near” free credit and the lending to unqualified lenders. President Bush made several attempts to push Congress to get rid of this bad legislation but Barney would have none of it.
    We have been suffering the effects of a housing crisis since the Democrats took over the Congress. Ever since Pelosi and Reid started bad mouthing an economy; an economy that they had a great deal of involvement in creating.
    These people are slime and if the press weren’t so complacent or stupid, this would have been taken care of a decade ago. Look at the mess we are in now. It’s all a Democratic mess. But somehow George Bush gets blamed. Go figure!

    • David A says:

      It was a government mess, lead by government all the way. The repeal of Glass-Steagall was a republican idea, signed by Clinton, who also, sued the Banks with 11 federal lawsuits. Freddie and Fannie lead the way in the MBS scandal. ( I do agree the dems were more responsible, and Obama had been on the wrong side of this every step of the way, but through the LSM succeeded in laying it on the lap of republicans)

  5. gator69 says:

    That was a different Obama, who was born in Kenya.

    • Look, I don’t like Obama either and haven’t voted for him, but what is with this where he was born stuff? His mother was an American and with the laws in effect at that time he was born automatically made him an American at birth, Doesn’t matter if he was born on the moon. Please explain this diatribe…

      Unless you are saying his mother wasn’t who he says it was.

      • His literary agents promoted him as born in Kenya for 17 years. You don’t find that interesting?

      • gator69 says:

        I have never changed the story about the origins of my birth, or in other words, lied about where I was born. But your president has! Isn’t that noteworthy? It is to me.

        • I’ll tell you, I’m missing something here. Just don’t get the point. He likes, every knows he lies, so who really cares where he was born? One of his parents was an American.

          Again, don’t get me wrong, I think he’s a P.O.S. and has done real harm to this country. Just don’t see the point.

        • He Lies, not likes.

        • gator69 says:

          The Lone Ranger says:
          June 23, 2014 at 11:54 pm

          “He Lies”

          That has been my point all along.

          Where he was born is another discussion. And it is amusing how some people on both sides bristle when that subject is brought up.

        • Well, I’m certainly not bristling on the subject as for me where he was born is a non-issue, unless neither of his parents wasn’t American. Guess I just like to put square pegs in square holes.

        • gator69 says:

          Lying is not a nonissue. You took issue with discussion of his origins, because you have been brow beat by leftists, and they won.

        • Yes! It is an issue in the scheme of everything, but his lying about where he was born is muted by the fact that one of his parents was an American. Some people do not like who they are and make fabulous tales about themselves.

          Yes, he still lied about where he was born, but so what? Does it change the fact that he should be impeached for everything he has done or hasn’t done, like his job to enforce our laws and not flagrantly refuse to uphold them?

          He lies and creates scandals to divert attention from what he is actually doing and the snowball of lies continues to get bigger and bigger as it rolls down the hill of truth. People know the truth, that why many are saying he is the king who wears no clothes – meaning he lies all the time and we cannot trust anything he says.

          Where he was born is of no significant consequence to him, his family, us, or the world. We laugh at him as the whole world laughs at him. We just don’t have the representatives with the cajones to impeach him. Oh, the democrat controlled senate would never impeach him. So? The House passed how many bills to get rid of obamacare that the senate rejected? Why not articles of impeachment? While the senate will undoubtedly vote not to impeach, they still have to hold the hearings with the Chief Justice presiding. There is no getting around that. Now, do the 40 times or more like the House did with obamacare. It stills befuddles me why they stopped trying with obamacare.

          That’s our fault and our problem and every true American that has the patriot fire in them should remember that come the midterm election this fall. Good old boy politics need to get kicked to the curb this time. Will the Americans have the fortitude to actually throw the two parties out and elect some real patriots who will actually represent the will of the people, or will it be just more of the same?

        • gator69 says:

          The Lone Ranger says:
          June 24, 2014 at 1:42 pm

          “Yes! It is an issue in the scheme of everything, but his lying about where he was born is muted by the fact that one of his parents was an American.”

          This is a problem. Even two American parents does not equal automatic citizenship. I should know because my citizenship was challenged just a few years ago.

          Both my parents were born and raised in the US, and I was born to them in France. My father was an Air Force officer stationed at Deols Air Base. At the age of eighteen I registered for the draft. I had possession of an American passport, which I needed to renew for a visit to my uncle in Mexico recently. My application was denied because I did not show the State Department an obscure form, along with my old passports, ID’s, and multiple birth certificates. The laws are not as simple as we have been lead to believe, and Skeeter never provided sufficient documentation to prove his eligibility.

          I agree 100% that Skeeter has committed worse offenses since taking office, but the fact remains that he lied about his origins and never proved eligibility. Even John McCain was forced to provide more info.

          We must not allow the left to define issues, ever.

        • Sorry about your plight on getting your passport renewed. Hopefully you have gotten it by now. If not, if your parents are still alive and not living in the US, all you need to do is contact one of the two US Senators, or the US Representative from the last state the two were in or from for the military case to ask for them to intervene. They may also be able to track down that obscure form you said the state department was requiring, if you haven’t already found it. Here are two links to find out who your representatives are:

          For the Senate: http://www.senate.gov/general/contact_information/senators_cfm.cfm

          For the US Representative you need the town and the address to get the zip code and enter it in the upper right of the website: http://www.house.gov/#feature2

          For the zip code: https://www.usps.com/nationalpremieraccounts/findzipcodes.htm

          For voting rights: http://www.fvap.gov/

          Have you voted in the US federal elections? If you registered for the draft, why didn’t you register to vote? Again, it is from the state your parents last lived in or from for the military. You are eligible to vote in federal elections only, not the state elections as you are not living there.

          Good luck!

        • gator69 says:

          As I mentioned, thanks to my parents, the form was obtained and retained. Within months of our return to the states, we made a trip to Atlanta where this obscure form was available, and I have it in my safe to this day.

          It matters not that I registered for the draft, registered to vote, had previous passports, had two Americsn parents, or that my American birth certificate clearly showed I was born to Americans abroad. Without this form, my citizenship was in limbo. Period.

          The same set of laws would have applied to Skeeter, had he been born abroad. Parentage meant nothing to our government, and still doesn’t. The lies have been told enough times.

  6. chick2011 says:

    Just recently he was calling people a “dead beat” if you didn’t pay your mortgage. (using that as his argument for not getting a “free ride” for your medical)

  7. obama is still at it suing GM for covering up problems with ignition switches which the board also knew about and Obama had directly control of since 2010 with 60% stock and 6 appointed paid board members.

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