Obama successfully sued Citbank in 1994 for not giving risky mortgages to minorities. What role has risky mortgages played in the current crisis?

This is just the tip of the iceberg regarding Obama's legal and political commitment and efforts to expand homeownership through subprime, risky loans. Democrats and some Republicans fought Bush and McCain efforts in 2003 and 2005 to pull back the throttle on these loans through regulatory legislation....and were handsomely rewarded with generous campaign contributions. Obama was one of the most highly rewarded.

Obama represented Calvin Roberson in a 1994 lawsuit against Citibank, charging the bank systematically denied mortgages to African-American applicants and others from minority neighborhoods.

http://www.suntimes.com/news/politic...-law17.article

Originally Posted by cabo35

Obama successfully sued Citbank in 1994 for not giving risky mortgages to minorities. What role has risky mortgages played in the current crisis?

This is just the tip of the iceberg regarding Obama's legal and political commitment and efforts to expand homeownership through subprime, risky loans. Democrats and some Republicans fought Bush and McCain efforts in 2003 and 2005 to pull back the throttle on these loans through regulatory legislation....and were handsomely rewarded with generous campaign contributions. Obama was one of the most highly rewarded.

Obama represented Calvin Roberson in a 1994 lawsuit against Citibank, charging the bank systematically denied mortgages to African-American applicants and others from minority neighborhoods.

http://www.suntimes.com/news/politic...-law17.article

And this is a surprise??? Check out retiredguy's utube today.

TVQueen, not a surprise, just needed to stand on its own and not buried in UTube with complete attribution and context. Thanks for responding though.

Cabo - you know I never agree with you on anything, but I hadn't seen you post in awhile and was afraid you were ill or somelthing. Now I see you were just reasearching - glad you are back!

But if you really read history, as your screen name suggests, you should take a little longer view of the political landscape in the U.S. before you indict one political party for being the "bad guys" and annoint the other as the "good guys".

I submit that both political parties can share the blame for our current state of affairs. There are lots of elements to the deterioration of the U.S. situation and thorough study shows that the Democrats can be assigned the principal blame for some and the GOP for others. If you want to begin with the financial situation our country finds itself in, consider that in 2001 the Chairman of the Federal Reserve was actually spending time worrying that our federal surplus might be getting too big! Under our current administration and Congresses since then, they have permitted the law that required a balanced federal budget to expire and have overspent our federal revenues to the tune of almost $1 trillion dollars. One party was in control of both the Congress and the White House for six of the eight years during which this occurred. And that party doesn't happen to be the one you are so vehemently criticizing.

I could easily study a little history and give equally damning examples of terrible governance by the other party, as well. And of course, there are many examples where the development of bad governance bridged the administrations of both political parties.

I'd suggest that we all calm down and rather than annoint one side and castigate the other, that we listen to what both are telling us, examine what both have done, and choose our political leadership not on slickly managed campaigns and misleading advertising, but on what the record shows and what campaign platform makes the most sense for our country.

I truly believe that such study and consideration can be accomplished calmly and without histrionics that upsets both ourselves as well as others.

Bet you never hear about this on mainstream tv shows !!! I have attached links about Sen Obama and folks onhere just ignore it as if it never happened.

Great post....but doubt if any of those who support Sen Obama will post here or you will ever hear about this on any of the news channels !

I have been waivering, but this information has made me decide to vote for McCain. Thank you for posting it. I am so sick that we responsible people have to pay.

Originally Posted by historybuff50

I've heard all the bombastic BS that I want to hear and I am not in any mood to listen to any banker these days, retired or otherwise. None of them are to be trusted, Democrap or Republican. Shame on them all!

I am with you. I am so sick of giveaways to everybody....yes folks in banking and investment are getting rich...WHY...because they had a vehicle....this country saying we will GIVE a mortgage even if you cant afford it..even if you arent working...never mind earning !

We want to GIVE to people free everything..no more earning anything...we are imploding because what we are making is a very weak nation.

And yet, another tip of the iceberg for Obama that will turn out to be nothing at all.
I expect more because the Republicans are running scared.

Tom Brokaw, this morning on Meet The Press, commented that this all started back with The Reagan Trickle Down Theory. McCain has always been known as The De-Regulator Guy! Get a grip! When he went to Washington in his last theatrical trip before the debate, his plan had more deregulation in it and more corporate tax breaks! More! What a joke.

http://www.oliverwillis.com/2008/09/...fiscal-crisis/

http://www.youtube.com/watch?v=vUJ_Qn0AHTU

http://forums.timesdaily.com/eve/for...7/r/7681048377

What was that, HistoryBuff?

"I've heard all...that I want to hear and I am not in any mood to listen."

Hey, that'll work. That's exactly the response the spinmeisters in the campaign offices were attempting to elicit. Get the voters to ignore the facts and vote with the elevated emotions that they create with soundbites, carefully edited YouTube videos and misleading advertising.

That's exactly how we've gotten to where we are.

Good luck.

Originally Posted by Villages Kahuna

What was that, HistoryBuff?

"I've heard all...that I want to hear and I am not in any mood to listen."

Hey, that'll work. That's exactly the response the spinmeisters in the campaign offices were attempting to elicit. Get the voters to ignore the facts and vote with the elevated emotions that they create with soundbites, carefully edited YouTube videos and misleading advertising.

That's exactly how we've gotten to where we are.

Good luck.

That is not fair Kahuana...he said BANKER...he did not and never said anything about candidates !!!!!! There have been a lot of FACTS on the tube, the net and everywhere......you can ignore it as you seem to want to do and throw your spin out but I listen ...and I am sure that HistoryBuff does also. BOTH PARTIES are guilty of a lot.....I am not defending any side or any candidate but you say both parties are guilty in one post and then come down on somebody because they stepped on your toes and your candidate.

I don't think so, Bucco. What I responded to was someone who said he had heard all that he wanted to hear and was no longer willing to listen. And I'll repeat, getting people to vote only based on their emotions is exactly the response the campaign strategists would like to elicit from the public.

If we do that and shut down on the idea of listening to the arguments and positions on the issues presented by the candidates for elected office, good luck to all of us.

If you think that's unfair...so be it.

Originally Posted by chelsea24

And yet, another tip of the iceberg for Obama that will turn out to be nothing at all.
I expect more because the Republicans are running scared.

Tom Brokaw, this morning on Meet The Press, commented that this all started back with The Reagan Trickle Down Theory. McCain has always been known as The De-Regulator Guy! Get a grip! When he went to Washington in his last theatrical trip before the debate, his plan had more deregulation in it and more corporate tax breaks! More! What a joke.

http://www.oliverwillis.com/2008/09/...fiscal-crisis/

http://www.youtube.com/watch?v=vUJ_Qn0AHTU

http://forums.timesdaily.com/eve/for...7/r/7681048377

As you said, with Reagan it was "THEORY" The law that allowed this mess was passed in 1999 under Pres. Clinton's term. The Republicans, like all politicians, then didn't have the courage to change it and loose the votes from all the idiots that took out mortgages without the means to pay the loans. Guilty on all sides.

"I've heard all the bombastic BS that I want to hear and I am not in any mood to listen to any banker these days, retired or otherwise." was his quote Kahuana..he was referring to you and not the candidates !!!!

I have heard enough also.....as said in this post by someone...."And yet, another tip of the iceberg for Obama that will turn out to be nothing at all."

This is a man in his 40's with more "tips of icebergs" that a man who has been around for 70 years and yet it is not important...pooh...pooh....doesnt count...ridiculous !

Kahuna or anyone else that has the patience and courage to view and listen to the video (C-Span), beginning to end, from a 2004 hearing on Fanny Mae. Barney Frank and Maxine Waters were especially charming. You may be surprised at Slick Willy's assessment at the end. Warning, if you are already angry, this will not help you maintain cool, objective detachment like many defenders of the democrats would prefer. I speak through the lips of an old democratic supporter whose party was hijacked by the left. I'm getting a little weary from those that profess that the blame needs to be shared. This whole thing was the product of a democratic liberal initiative to redistribute the wealth, give away mortgages to people who could not afford them and continue to pit the classes against each other for votes, consequences be damned. That being said, I concede a few Republicans were also in the tank with Barney Frank, Chris Dodd and the other leemings.


No speculation here. The democrats and republicans are clearly identified. Kahuna, let me know who the good guys and bad guys were at this hearing.

Caution - remove objects within arms length that can harm your computer before viewing. God bless C-Span.

http://www.youtube.com/watch?v=_MGT_cSi7Rs&eurl=