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View Full Version : Look what some bloggers just found!

so.cal.fan
10-09-2008, 02:01 PM
UPDATED: Obama sued Citibank Under CRA to Force it to Make Bad Loans
www.freerepublic.com/focus/f-news/2101106/posts
highnote
10-09-2008, 02:07 PM
Interesting. Where's the rest of the story?
so.cal.fan
10-09-2008, 02:08 PM
sorry, it wouldn't copy, but I editied the link up now.
highnote
10-09-2008, 02:13 PM
Thanks, SoCal. I'll check it out.
Hank
10-09-2008, 02:41 PM
UPDATED: Obama sued Citibank Under CRA to Force it to Make Bad Loans
www.freerepublic.com/focus/f-news/2101106/posts (http://www.freerepublic.com/focus/f-news/2101106/posts)

If not for decades of biased lending mandated by the FHA none of that type of thing would have been needed,but dont take my word for it simply google, FHA redlining
Tom
10-09-2008, 03:24 PM
Biased lending! Imagine the gall of those banks not loaning money to people who cannot pay them back. Who do they think they are??????
delayjf
10-09-2008, 03:31 PM
not loaning money to people who cannot pay them back. Who do they think they are??????

Hell, where's my loan - I can default with the rest of them.
Hank
10-09-2008, 04:40 PM
Biased lending! Imagine the gall of those banks not loaning money to people who cannot pay them back. Who do they think they are??????

Pardon me..don't let facts get in the way of your opinion.:lol:
ddog
10-09-2008, 04:48 PM
It did not require banks to lend to those who couldn't pay it back.


As to the case, who paid the attorney fees? was it Citi? If so , was the disclosure of the loan docs proof of the claim that they were not fair in the lending in that instance?

To bring it up to current, even if one would grant your argument that the CRA forced banks to make loans they knew could not be paid back, then just those loans defaulting casued this?

Really????

Pls , Explain in detail the numbers behind that reasoning, I would love to see them!
OTM Al
10-09-2008, 04:57 PM
Snopes gives a pretty clear outline of exactly what happened here

http://www.snopes.com/politics/obama/loans.asp

Basically it was a case of banks denying loans to people on the basis of race rather than on the basis of being qualified.
delayjf
10-09-2008, 08:29 PM
Snopes give one version of the events. But was Citi bank really guilty of racism or were they intimidated into a settlement by groups like Acorn and Atty Gen. Janet Reno??
ElKabong
10-09-2008, 10:05 PM
ACORN's M.O. is and always has been to shake down lenders to give favorable loans to minorities and low income individuals. Their radio ads here in Dallas for years were very belligerant (DON'T let the bank tell you "no" on any loan. ACORN can help you achieve your dream).----which is now everyone's nightmare.

Social engineers make for bad bankers / brokers.
Tom
10-09-2008, 10:55 PM
Pardon me..don't let facts get in the way of your opinion.:lol:

Then why are so many defaulting? Don't let your :lol: get in the way of reality.