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In His Activist Days Obama Sued Banks to Ease Lending Practices… Now He’s Suing Banks For Risk
Gateway Pundit ^ | September 2,2011 | Jim Hoft

Posted on 09/02/2011 5:50:11 PM PDT by Hojczyk

In his early activist days, Barack Obama the community organizer sued banks to ease their lending practices. Now his administration is suing banks for issuing risky mortgages.

State Sen. Barack Obama and Fr. Michael Pfleger led a protest in Chicago in January 2000. (NBC 5 Week of January 3, 2000)

Breaking on FOX News… The Federal Housing Finance Agency announced late this afternoon that it had sued 17 large banks for risky mortgages. The Street reported:

The Federal Housing Finance Agency announced Friday afternoon that it had sued 17 large banks, alleging violations of federal securities laws in the sale of mortgage-backed securities to government-sponsored enterprises, including Fannie Mae (FNMA), Freddie Mac (FMCC).

According to a Reuters report, the FHFA’s suit was related to $41 billion in mortgage-backed securities issued by the 17 banks.

Bloomberg reported that the FHFA sued to recover losses on $6 billion in mortgage-backed securities packaged by Bank of America (BAC), $24.8 billion in securities originally packaged by Merrill Lynch, and $3.5 billion originally pac


TOPICS: Business/Economy; Government
KEYWORDS:

1 posted on 09/02/2011 5:50:12 PM PDT by Hojczyk
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To: Hojczyk

“It’s where the money is.” — Willie Sutton


2 posted on 09/02/2011 5:55:38 PM PDT by ClearCase_guy (The USSR spent itself into bankruptcy and collapsed -- and aren't we on the same path now?)
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To: Hojczyk

Maybe he should ask why Barney Fwank opposed Bush investigating F&F.

The Democrats took power, their benefactors got wealthy, and America got punk’d.


3 posted on 09/02/2011 5:56:40 PM PDT by a fool in paradise (The liberal press applauded when the NY Times hacked Newt Gingrich's phone calls.)
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To: a fool in paradise

Google the sordid story of Herb and Marion Sandler of Golden West Financial. The Madoff’s that got away.


4 posted on 09/02/2011 6:00:50 PM PDT by SpaceBar
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To: a fool in paradise
The Democrats took power, their benefactors got wealthy, and America got punk’d.

So it was in Chicago...so it is in the USA!

5 posted on 09/02/2011 6:01:29 PM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: a fool in paradise
He should, but he won't. He'll just keep blaming Bush for as long as the MSM will let him get away with it, facts notwithstanding
6 posted on 09/02/2011 6:01:52 PM PDT by TwelveOfTwenty (Compassionate Conservatism? Promoting self reliance is compassionate. Promoting dependency is not.)
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To: Hojczyk

A lying narcissistic hypocrite does what a lying narcissistic hypocrite will always do. =.=


7 posted on 09/02/2011 6:02:09 PM PDT by cranked
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To: Hojczyk
I didn't think we knew anything about 0bama's existence prior to his days as an illinois state senator.

It is rumored he allegedly attended Yale, and allegedly was a Yale Law Revue editor. Allegedly, he taught constitutional law uhhh . . . somewhere.

Reportedly, he attended college somewhere out west, and he allegedly spent a year working for a private law firm (behind "enemy lines," as he described it).

Before that, he allegedly lived in Indonesia with his step father who was marriaed to a women who was allegedly his mother.

And, before that, he was allegedly born . . . uhhh . . . somewhere.

8 posted on 09/02/2011 6:04:21 PM PDT by YHAOS (you betcha!)
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To: Hojczyk

Simply believable (I’d say unbelievable, but with this President, everything is backwards).


9 posted on 09/02/2011 6:15:11 PM PDT by phatus maximus ( John 6:29. Learn it, love it, live it.)
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To: Hojczyk

I was just thinking about this today when I heard the news on the radio.


10 posted on 09/02/2011 6:16:17 PM PDT by Inyo-Mono (My greatest fear is that when I'm gone my wife will sell my guns for what I told her I paid for them)
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To: Hojczyk

This “lawsuit” by the Kommie Kiddies in D.C. is bull****! THEY forced the banks into this crap with their commie threats. If the commies want to sue somebody, the need to sue Bahknees Frank, Dodd and the DNC. Throw in the aCLU and NAACP for good measure. They are the sorry bass turds who caused this. They shouldn’t be pointing their stinky little crooked fingers at the banks.


11 posted on 09/02/2011 6:20:12 PM PDT by FlingWingFlyer (Coming November 2012 - Bedtime For Obozo.)
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To: Hojczyk

Obama’s jaw-dropping chutzpah: first coercing bankers to make unsound loans to people manifestly unable to repay, then suing them for making unsound loans to people manifestly unable to repay,


12 posted on 09/02/2011 6:21:23 PM PDT by Mrs. Don-o (Chutzpah: shown by a man who kills his parents and pleads for the court's mercy 'cuz he's an orphan.)
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To: Hojczyk

Obama has so many failures that we don’t have to make them up. The Banks aren’t being sued for making the loans, they are being sued for lying about the quality of the mortgages that they resold.


13 posted on 09/02/2011 6:50:44 PM PDT by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: Mrs. Don-o

Just as passing the debt ceiling was a failure of leadership when Baraq was a US Senator, and a great thing when he is POTUS.

A cheerleading squad populating the MSM means never having to say you’re stunningly inconsistent.


14 posted on 09/02/2011 6:55:01 PM PDT by nascarnation
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To: Hojczyk

Dread of night. Dread of not-night.
Franz Kafka


15 posted on 09/02/2011 7:10:46 PM PDT by DUMBGRUNT (The best is the enemy of the good!)
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To: YHAOS
It is rumored he allegedly attended Yale, and allegedly was a Yale Law Revue editor. Allegedly, he taught constitutional law uhhh . . . somewhere.

Actually he allegedly attended Harvard where he was allegedly President of the Harvard Law Review where he was allegedly the first person to ever hold that position to allegedly never have an essay published, allegedly.

16 posted on 09/02/2011 7:31:06 PM PDT by JrsyJack (a healthy dose of buckshot will probably get you the last word in any argument.)
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To: Hojczyk

Well they have to sue, the alternative would be to accept the concept that actions have consequences.


17 posted on 09/02/2011 7:45:05 PM PDT by ArmstedFragg (hoaxy dopey changey)
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To: SpaceBar

They are the cheapest greediest Libs ever known.


18 posted on 09/02/2011 10:34:02 PM PDT by wac3rd (Somewhere in Hell, Ted Kennedy snickers....)
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To: JrsyJack
"Actually he allegedly attended Harvard where he was allegedly President of the Harvard Law Review"

Oh, was it Harvard?
I stand corrected.

Yale grads will be relieved to hear this.

19 posted on 09/03/2011 8:31:23 AM PDT by YHAOS (you betcha!)
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