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Obama Sued CitiBank To Force Them To Make Bad Loans (Flashback 1995)
Several Sources/Powerline ^

Posted on 10/07/2008 12:48:42 PM PDT by mnehring

LINK

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

What was the settlement? CitiBank’s agreement to make loans to people who demographically were at high risk of foreclosure?


TOPICS: Crime/Corruption; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: 2008; barackthebanker; debate; democrats; economiccollapse; economy; elections; fanniemae; financialcrisis; guilty; housingbubble; nobama08; obama; obamathebanker; obamatruthfiles; obamatruthsquad; subprime; whostoblame
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To: Cyclone59
This mess didn't happen overnight.

I know the lefties have a problem seeing long term or anything past tomorrow, but this is a problem that has been in the making for a while.

21 posted on 10/07/2008 1:27:02 PM PDT by FreeAtlanta (NOBAMA - it is for our future)
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To: Cyclone59

The impact is in the precedent.


22 posted on 10/07/2008 1:35:39 PM PDT by wtc911 ("How you gonna get back down that hill?")
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To: Cyclone59

“very big part of this is the over-extended second mortgage holders”

A VERY SMALL PART, actually...

The BIGGEST part of this is the MASSIVE inner-city mortgage frauds.

This is just ONE SCHEME, from ONE Mid-sized US City.

Now, multiply this by a hundred cities, many LARGER, like Detroit, and you just BEGIN to see how this started.


On Wednesday, the prosecutor’s office announced charges of welfare fraud and theft against six men. Investigators say they were involved in different mortgage cartels over the past three to seven years.

Mehran Valiyi, Brian Beach, Marcus Dewayne Ward and Omar Dillard were all involved with different schemes all with the same result: defrauding HUD out of $284,000 and facilitating $37 million in mortgage loans that investigators say the suspects never paid on. Two out-of-state residents, Patrick Ladarius and Preston Forte, were also charged.

Investigators say the suspects took out almost $38 million in mortgages under fake companies they created, buying 568 homes across the city and then re-selling them for an inflated price to investors. The suspects never paid the mortgages on the homes they bought, sending properties like the one at 917 North Parker into foreclosure, according to the report.

Investigators say the suspects also registered some of their properties as Section 8 so they could collect HUD money all while not paying the home’s mortgage. Soon the home was in foreclosure and unsuspecting renters were on the street.

“Then they file for bankruptcy to keep from having to pay the judgment on the foreclosure and its just a never ending circle,” said Barbara Crawford, Marion County prosecutor’s office.

Authorities credit the Targeting Violent Crime Initiative for establishing links between violent crime and mortgage fraud cartels, leading to the charges against these 6 suspects.

http://www.wthr.com/...
From WTHR-13 Indianapolis


23 posted on 10/07/2008 1:41:51 PM PDT by tcrlaf (SARAH PALIN-The American Everywoman (Yes, You Really CAN!))
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To: henkster

But, you don’t get it.

EVERYTHING is Racist, now!

A Florida Sherriff saying Obama’s middle name, “HUSSEIN” is racist. Mentioning the origins of this financial meltdown is racist.

In fact, ANYTHING that may harm “THE ONE!” is racist, don’t you already know that??


24 posted on 10/07/2008 1:44:01 PM PDT by tcrlaf (SARAH PALIN-The American Everywoman (Yes, You Really CAN!))
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To: mnehrling

This article, should be one of McCain’s talking points tonight.


25 posted on 10/07/2008 2:00:15 PM PDT by DGHoodini (Nor shall my sword sleep in my hand)
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To: proudpapa

All part of the ACORD, Ayers, Soros, Obama, Alinsky, Pritzker et al strategy:

http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html


26 posted on 10/07/2008 5:44:20 PM PDT by Frantzie
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To: mnehrling

Need research to reveal the settlement....


27 posted on 10/08/2008 12:54:35 AM PDT by XHogPilot
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To: mnehrling

So did Obama force the Illinois banks to “prey” on the poor of his state?


28 posted on 10/08/2008 12:56:39 AM PDT by XHogPilot
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To: Cyclone59

It took 4 years to settle the lawsuit. May 1998 was when they settled. Time frame is about right for a settlement highly favorable to plaintiffs. Circa 1998 is the same time frame for Boston area banks being forced to make very hight risk loans by the US Justice Dept.


29 posted on 10/08/2008 1:17:47 AM PDT by XHogPilot
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To: Fred Nerks; Lazamataz; TigersEye; MeekOneGOP; floriduh voter; loboinok; snippy_about_it; ...

Ping.

[Want off my unreliable ping list? Please feel free to cuss me out. Want on my ping list? Just ‘ax’.]


30 posted on 10/08/2008 2:48:17 AM PDT by Arthur Wildfire! March (BO Change is BS Change. A little o Change to help Ayers and Raines.)
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To: whoever

Related links:

ALL YOU NEED TO KNOW ABOUT REZKO
http://www.freerepublic.com/tag/rezko/index

Official RNC Website of Obama’s Friends
http://www.barackbook.com/

The Timeline Project / Link List of Bailout History
http://www.freerepublic.com/focus/f-bloggers/2093845/posts

Truth about McCain’s Role in Keating Five
http://www.freerepublic.com/focus/news/2099066/posts?page=23#23

Antoin Rezko Redivivus [Washington Post]
http://www.freerepublic.com/focus/f-news/2096392/posts

Friend Update Added to ‘BarackBook’ Says RNC [Facebook -ZING!]
http://www.freerepublic.com/focus/f-news/2097136/posts

Obama launches website on McCain/Keating link
http://www.freerepublic.com/focus/f-news/2098681/posts

Another BO Mentor Caught Ranting at Whitey [From Hannity’s America 10/5/08]
http://www.freerepublic.com/focus/f-news/2098452/posts

Ayers Was on Woods Fund Board with Obama When He Stepped on Flag
http://www.freerepublic.com/focus/f-news/2098056/posts

DUmmie FUnnies 10-03-08 (Sarah Palin’s Debate Performance Enrages DUmmies)
http://www.freerepublic.com/focus/f-bloggers/2096653/posts

FBI Raids Obama Friend’s Home
http://www.freerepublic.com/focus/f-news/2096617/posts

Lawsuit over ACORN files in court today [early October]
http://www.freerepublic.com/focus/f-news/2095786/posts

Obama’s Fishy $200 Million
http://www.freerepublic.com/focus/f-news/2095981/posts

WND’s [Jerome] Corsi in Kenya to probe Obama ties
[Tried to help ‘hut sweet hut’ brother]
http://www.freerepublic.com/focus/f-news/2096049/posts

Biden Says Corn Syrup And Coal More Deadly Than Terrorism
http://www.freerepublic.com/focus/f-news/2095121/posts

Biden’s Big Lies: All 14 of them [vp debate]
http://www.freerepublic.com/focus/f-news/2096603/posts

DNC steps in to silence lawsuit over Obama birth certificate
http://www.freerepublic.com/focus/f-news/2097435/posts

Fact check: Biden spins a helicopter tale
http://www.freerepublic.com/focus/f-news/2095562/posts

NYT’s Ayers-Obama Whitewash [Kurtz NRO]
http://www.freerepublic.com/focus/f-news/2097501/posts

Print Media Says Palin’s “Palling with Terrorists” remark is racist
http://www.freerepublic.com/focus/f-news/2098225/posts

Team O’s misquote of Sutton over Al Mansour
http://www.freerepublic.com/focus/news/2098293/posts?page=287#287

VP debate transcript link [and my summary in post 12 — six Biden rimshots.
http://www.freerepublic.com/focus/news/2096402/posts?page=12#12

Berg v. Obama [Birth Certificate] Feinstein added
http://www.freerepublic.com/focus/f-news/2099409/posts

Missouri Governor Accuses Obama of Conspiring to Violate Civil Rights
http://www.freerepublic.com/focus/f-news/2092020/posts

Gov. Blunt Statement on Obama Campaign’s Abusive Use of Missouri Law Enforcement
http://www.freerepublic.com/focus/f-news/2091900/posts

Hitler Youth Reborn?—Compare The Images In These Two Videos [handle with care]
http://www.freerepublic.com/focus/f-chat/2094535/posts

“I THINK THIS IS OVER” [ I could be weong ! ]
http://www.freerepublic.com/focus/f-chat/2092945/posts

McCain TRIED to SOLVE Fannie/Freddie problem in 2006
http://www.freerepublic.com/focus/f-news/2084035/posts

Obama’s Assault on the First Amendment
http://www.freerepublic.com/focus/f-news/2095007/posts

Rezco Page [STARWISE]
http://rezkowatch.blogspot.com/2008/02/auchi-rezko-obama-who-are-they.html

The Left and Plans for “Nuremberg-Style” Tribunals for Bush Administration Officials [especially BO/Biden]
http://www.freerepublic.com/focus/f-news/2057819/posts

300 Retired Generals And Admirals Endorse John McCain For President
http://www.freerepublic.com/focus/f-news/2091651/posts

Illinois AG probing grant by Obama-Awarded $100,000 to campaign worker, but project never done
http://www.freerepublic.com/focus/f-news/2091648/posts

The Joe Biden Video the MSM Does NOT Want You To See
http://www.freerepublic.com/focus/f-news/2093084/posts

Transcript of Sept 26 Presidential Debate
http://www.freerepublic.com/focus/f-news/2091612/posts


31 posted on 10/08/2008 2:59:05 AM PDT by Arthur Wildfire! March (BO Change is BS Change. A little o Change to help Ayers and Raines.)
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To: mnehrling

Great post. Thanks for posting.


32 posted on 10/08/2008 4:35:42 AM PDT by FreedomProtector
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To: Arthur Wildfire! March

Thanks for posting


33 posted on 10/08/2008 4:39:37 AM PDT by FreedomProtector
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To: FreedomProtector

Gripping headline here. FRegards ....


34 posted on 10/08/2008 4:47:04 AM PDT by Arthur Wildfire! March (BO Change is BS Change. A little o Change to help Ayers and Raines.)
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To: Crimson Elephant

Legal BUMP.


35 posted on 10/08/2008 5:01:09 AM PDT by LikeLight (http://www.believersguidetolegalissues.com)
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To: mnehrling

We’ve known this for 2 weeks. McCain has said nothing.


36 posted on 10/08/2008 5:43:15 AM PDT by montag813
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To: mnehrling

THE ACORN APPARAT (did ACORN and FANNIE MAE have secret equity positions in mortgage transactions?)

http://www.freerepublic.com/focus/f-news/2100369/posts


37 posted on 10/08/2008 8:30:14 AM PDT by Liz (Taxpayer: one who works for the govt but doesn't have to take a civil service test. R. Reagan.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Arthur Wildfire! March

Biden Says Corn Syrup And Coal More Deadly Than Terrorism
http://www.freerepublic.com/focus/f-news/2095121/posts

Biden’s Big Lies: All 14 of them [vp debate]
http://www.freerepublic.com/focus/f-news/2096603/posts

ALL YOU NEED TO KNOW ABOUT REZKO
http://www.freerepublic.com/tag/rezko/index

Official RNC Website of Obama’s Friends
http://www.barackbook.com
[shocking list]

Another BO Mentor Caught Ranting at Whitey [From Hannity’s America 10/5/08]
http://www.freerepublic.com/focus/f-news/2098452/posts

Ayers Was on Woods Fund Board with Obama When He Stepped on Flag
http://www.freerepublic.com/focus/f-news/2098056/posts

FBI Raids Obama Friend’s Home
http://www.freerepublic.com/focus/f-news/2096617/posts

Obama’s Fishy $200 Million
http://www.freerepublic.com/focus/f-news/2095981/posts

Fact check: Biden spins a helicopter tale
http://www.freerepublic.com/focus/f-news/2095562/posts

Print Media Says Palin’s “Palling with Terrorists” remark is racist
http://www.freerepublic.com/focus/f-news/2098225/posts

Missouri Governor Accuses Obama of Conspiring to Violate Civil Rights
http://www.freerepublic.com/focus/f-news/2092020/posts

Gov. Blunt Statement on Obama Campaign’s Abusive Use of Missouri Law Enforcement
http://www.freerepublic.com/focus/f-news/2091900/posts

Hitler Youth Reborn?—Compare The Images In These Two Videos [handle with care]
http://www.freerepublic.com/focus/f-chat/2094535/posts

Illinois AG probing grant by Obama-Awarded $100,000 to campaign worker, but project never done
http://www.freerepublic.com/focus/f-news/2091648/posts

The Joe Biden Video the MSM Does NOT Want You To See
http://www.freerepublic.com/focus/f-news/2093084/posts

[Newer ‘oldies’ starting in mid-October coming up]


38 posted on 11/03/2008 7:14:16 AM PST by Arthur Wildfire! March (We can win the economic meltdown debate: http://www.freerepublic.com/focus/news/2115485/posts)
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To: FreedomProtector

Thank you for the encouragement, FRiend.


39 posted on 11/03/2008 7:15:19 AM PST by Arthur Wildfire! March (We can win the economic meltdown debate: http://www.freerepublic.com/focus/news/2115485/posts)
[ Post Reply | Private Reply | To 33 | View Replies]

To: Arthur Wildfire! March

Obama pushed for GRAPHIC Sex Ed for kindergarteners:
http://www.freerepublic.com/focus/news/2079415/posts
http://www.freerepublic.com/focus/f-news/2054556/posts
http://freerepublic.info/focus/f-news/2088463/posts
[Including masturbation tips — for kindergarteners]

Inhofe recounts run-in with ACORN (protesters were threatening his wife, his children and his home)
http://www.freerepublic.com/focus/f-news/2114577/posts

Change, or more of the same? [Pravda endorses Obama]
http://www.freerepublic.com/focus/f-news/2115510/posts

Democrats Defending Fannie Mae/Freddie Mac they CAUSED the Financial Crisis
[youtube]
http://www.freerepublic.com/focus/f-news/2115534/posts

Confirmed: MSM Holds Video Of Barack Obama Attending Jew-Bash & Toasting a Former PLO Operative
http://www.freerepublic.com/focus/f-bloggers/2114277/posts

Obama’s Minuscule Charity Contributions
http://www.freerepublic.com/focus/f-news/2114992/posts
[Hut sweet hut / slum sweet slum in posts]

ACORN Loves High Taxes But Doesn’t Bother Paying Them [tax evasion]
http://www.freerepublic.com/focus/f-bloggers/2115210/posts

Federal judge breaks rules, donates to Obama
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=78878

Plumbergate. GOP Asks If Dems Breached Joe’s Tax Records (Records illegally Breached By Obama?)
http://www.freerepublic.com/focus/f-news/2115498/posts

New Allegations in Mahoney D-Fla Sex Scandal (threatening behavior and sexual harassment)
http://www.freerepublic.com/focus/news/2115544/posts?page=1

PA Campaign Goes To The Dogs
http://www.freerepublic.com/focus/f-news/2115504/posts
The caller, from a presidential campaign office, asked for “Sadie Giordano.” “Sadie Giordano” is Joseph’s deceased dog. “It baffles me,” [snip]

12 Obama Lawyers Illegally Registered to Vote in Ohio
http://www.freerepublic.com/focus/f-news/2114684/posts


40 posted on 11/03/2008 7:28:30 AM PST by Arthur Wildfire! March (We can win the economic meltdown debate: http://www.freerepublic.com/focus/news/2115485/posts)
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