http://www.snopes.com/politics/obama/loans.asp
Obama sued CitiBanks for Redlining not for mortgages for people who could not pay.

Originally Posted by Bucco

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.

One of the problems is that no one action stands alone.

With the "free mortgages" came a boom in housing construction to meet the demand. That resulted in greater orders for durable consumeer goods (e.g, refridgerators, washing machines, etc.), more staffing in the services industry (e.g, pest control, supermarkets), more municipal employees (e.g., water & sewage providers, police, fire, inspectors, etc.) and so on, and so on.

Our economic elements are interdependent, and when you mess with one, there is a daisy-chain effect to some degree on others.

What makes this latest debacle so untasteful is its handling.

Let's see -- Obama was an associate at the Miner firm when the Roberson case came about. It was not about getting sub-prime loans, it was about redlining -- a much different issue. Redlining has nothing to do whether an applicant is credit worthy. It is about banks refusing to do ANY loans in certain neighborhoods.

Mr. Roberson did have the points to qualify for a loan. As a matter of fact, he was an A+ borrower. Had he applied for a loan in another neighborhood, he would have had no problem qualifying and getting a loan. However, Citibank deemed his neighborhood to be unworthy and refused to give him a loan on that basis.

From the sound of the article, Obama really was nothing more than a flunky at the Miner firm -- that's what associates are, until they are close to becoming a partner. They do the grunt work. They rarely appear in court except to carry the boxes (the paralegal is the one who pulls the papers out of those boxes -- not the associate). They do the research, do the frst few drafts of a pleading or appeal, take the depositions, draft the settlement agreemnt. They don't decide which cases they will or will not work on. They don't decide what position to take. They are the gofers and God love 'em -- they put in incredible hours with few rewards and sometimes for cases that they totally disagree with but they understand it is doing well on those cases that will give them the option as a partner to do the work they want.

That Obama even spoke before the Court of Appeals is pretty impressive. This is something associates rarely do. They must have had a lot of confidence in him even then. Being a behind-the-scene negotiator is a good thing and it sounds like Obama was good at it.

Sorry, I don't see your issue on this article. At least use the correct brush when you tar him.

Great post Red!

Why don't the people of the Republican persuasion address all the De-regulation votes by McCain that got us to the mess we are in today? Why all this cherry picking, slanting and spin about Obama? I have yet to hear any of you EVER state that McCain did one wrong thing in his entire 26 years in government. Try addressing those things for a change.

Originally Posted by chelsea24

Great post Red!

Why don't the people of the Republican persuasion address all the De-regulation votes by McCain that got us to the mess we are in today? Why all this cherry picking, slanting and spin about Obama? I have yet to hear any of you EVER state that McCain did one wrong thing in his entire 26 years in government. Try addressing those things for a change.

Its only going to get worse now that the worm appears to have turned...the ads in Colorado have been stepped up a notch..the usual tax and spend liberal. Today I heard, on CNN or MSNBC, that perhaps the McCain campaign will try an link Obama to OJ Simpson.

Maybe Palin should try a few more of these

Originally Posted by chelsea24

Great post Red!

Why don't the people of the Republican persuasion address all the De-regulation votes by McCain that got us to the mess we are in today? Why all this cherry picking, slanting and spin about Obama? I have yet to hear any of you EVER state that McCain did one wrong thing in his entire 26 years in government. Try addressing those things for a change.

Well, you have to read a bit further perhaps....I am livid with Sen McCain for the vote on the bail out filled with all the pork. I disagree on any number of issues with him.

If you think the any deregulation by Sen McCain got us into this mess, you are not trying to find out facts. What first comes to my mind is a comment by Jim Cramer on MSNBC the other morning, a Democrat and Obama supporter...he said and I am paraphrasing that he was impressed although not supporting Sen McCain (and he did make that very clear) when Sen McCain came out and called for the firing of the SEC head. Now Sen McCain was verbally abused for that, but a person that at least I trust in Jim Cramer, said it was the only sane voice he heard....anyway, the mess we are in.....if you go back two years...Sen McCain said there was a problem with Fannie Mae and Freddy Mac...laughed at again...there were committe hearings where the Democrats said that it was a personal lynching...but lo and behold they were wrong and had the chance two years ago to fix it.

As far as Sen Obama is concerned, you know how I feel so your thrust certainly isnt aimed at me..I have been very clear...and I think you are the one who called him an "empty suit" during the primary....he is, at this point anyway, an "empty suit" to most folks who oppose him...I dont think as many people SUPPORT Sen McCain as are.....searching for a word so you dont come at me....apprehensive (hows that) about Sen Obama.

I dont know if this reponds to you...but there are many many things I disagree with Sen McCain on but I can see his record of over 20 years very very clearly and cannot say that about Sen Obama. And I am not saying we never take a chance, but to repeat my theme....I consider Sen Obama to be a radical left wing politician who believes in big government and having a Democratic congress at his whim is for me something to be "apprehensive" about. And remember I said with a Democratic Congress so you keep what I say in context !

When you have a candidate with no clear public record and lets say some
gray" areas in his background, this is what you have to expect !

Originally Posted by cologal

Its only going to get worse now that the worm appears to have turned...the ads in Colorado have been stepped up a notch..the usual tax and spend liberal. Today I heard, on CNN or MSNBC, that perhaps the McCain campaign will try an link Obama to OJ Simpson.

Maybe Palin should try a few more of these

Yes, maybe she can wink her way to the White House. I heard she came out like a viper today against Obama. OK. Now it's time for us to take our gloves off.