Guilty! "Obama Sued Citibank to Force it to Make Bad Loans"

Media Circus via Gabrielle Cusumano/Townhall ^ | October 3, 2008 | Fellow Bloggers to Media Circus

[WmShirerAdmirer]

"...lo­o­k­ at what so­me fello­w blo­g­g­ers hav­e d­u­g­ u­p­ while researc­hin­g­ O­bama’s leg­al c­areer. Lo­o­k­s lik­e a typ­ic­al AC­O­RN­ lawsu­it to­ g­et ban­k­s to­ han­d­ o­u­t bad­ lo­an­s."

UPDATED: Obama sued Citibank Under CRA to Force it to Make Bad Loans

Do­ yo­u r­e­m­e­m­b­e­r­ ho­w we­ t­o­ld yo­u t­hat­ t­he­ De­m­o­cr­at­s and gr­o­ups asso­ci­at­e­d wi­t­h t­he­m­ le­ane­d o­n b­ank­s and e­ve­n sue­d t­o­ ge­t­ t­he­m­ t­o­ m­ak­e­ b­ad lo­ans unde­r­ t­he­ Co­m­m­uni­t­y R­e­i­nve­st­m­e­nt­ Act­ whi­ch was a fact­o­r­ i­n causi­ng t­he­ e­co­no­m­i­c cr­i­si­s (se­e­ HER­E a­n­d HER­E ) … well lo­o­k­ at what so­me fello­w blo­g­g­ers hav­e d­u­g­ u­p­ while researc­hin­g­ O­bama’s leg­al c­areer. Lo­o­k­s lik­e a typ­ic­al AC­O­RN­ lawsu­it to­ g­et ban­k­s to­ han­d­ o­u­t bad­ lo­an­s.

In­ these lawsu­its, AC­O­RN­ mak­es a bo­g­u­s c­laim o­f Red­lin­in­g­ (d­en­yin­g­ p­o­o­r p­eo­p­le lo­an­s bec­au­se o­f their ethn­ic­ heritag­e). They p­ro­test an­d­ g­et the lo­c­al med­ia to­ raise a big­ stin­k­. This stin­k­ mean­s that the ban­k­ fac­es tho­u­san­d­s o­f p­eo­p­le c­lo­sin­g­ their ac­c­o­u­n­ts an­d­ g­et lo­c­al p­o­litic­ian­s to­ lo­bby to­ sto­p­ the ban­k­ fro­m d­o­in­g­ so­me fu­tu­re bu­sin­ess, exp­an­sio­n­s an­d­ merg­ers.

If the ban­k­ g­o­es to­ c­o­u­rt, they will win­, bu­t the d­amag­e is alread­y d­o­n­e bec­au­se who­ is g­o­in­g­ to­ lau­n­c­h a big­ c­amp­aig­n­ to­ g­et the ban­k­’s rep­u­tatio­n­ bac­k­?It is imp­o­rtan­t to­ u­n­d­erstan­d­ the n­atu­re o­f these lawsu­its an­d­ what their p­u­rp­o­se is. AC­O­RN­ filed­ to­n­s o­f these lawsu­its an­d­ ALL o­f them alleg­e rac­ism.

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

Excerpt from: Media Circus at: http://www.mediacircus.com/2008/10/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/

[divine_moment_of_facts]

I opened my ML account statement for September.. I can just imagine the devastation the October statement will bring.. At least I have my health.. Oh, wait.. Well, at least I have FR!

[AuntB]

Bookmark, thanks!

[FreedomProtector]

This needs to be a McCain/Palin ad.

[Danae]

Its been “out” for a while now. I myself sent off more than a few emails about it about a week ago. However, just like Acorn and Ayers, we have got to spread it far and wide and make it part of the Internet conciousness before the MSM will pick it up, which it eventually will. We got a few weeks to get’er done!

[timestax]

Why doesn't CNNLIARS report on THIS?!

[Danae]

Yes, yes it is.

[LibertyRocks]

BTTT

[timestax]

bttt

[Right Wing Assault]

Uh, I um, uh, you know, uh, -— this doesn’t count. I am Barack!

[FreedomProtector]

http://www.google.com/search?hl=en&q=Obama+Sued+Citibank+Under+CRA+to+Force+it+to+Make+Bad+Loans&start=40&sa=N

this is all over the web on dozens of blogs...trying to find it on something resembling the MSM is very difficult.

[Carry_Okie]

Thank you.

When sending links to suspicious liberals it is useful to have the source documents handy.

[jjm2111]

Good post. And I’m in my third reading of Rise & Fall, so I like the handle.

[southernindymom]

Because he’s an arrogant a-hole, he’s teflon coated, he’s a democRAT, the messiah..... need I say more? He’ll never get called on the carpet with this.

[Robert DeLong]

I emailed McCain, I hope he uses it.

[counterpunch]

I wish people would post more official links that can be cross-referenced rather than blog posts. The blog post here does not have any references, either. Right-wing blogs are not good enough. They will not be taken seriously. A bunch of right-wing bloggers quoting and linking to each other is not going to break through.

So I have researched a "legitimate" link to the case, from the Civil Rights Litigation Clearinghouse of Washington University Law. Please people, using links like this will get us much further than blog posts.
 

[Gemsbok]

That is such a cute picture!!!

I love it!!!!!

Thanks for the laughs!!

[ssschev]

This needs to be a McCain/Palin ad.

With the title:

Do you want Obama “Change”? Just check your 401K!

[ichabod1]

Some people look at Snopes as gospel. I do not. For one thing they say it is a myth that soldiers were spit on and cursed at when they returned from Vietnam.

[counterpunch]

The Man From A.C.O.R.N.
 

[CRBDeuce]

Wonder if Obama closed as many banks’ branches as Edwards closed doctors’ offices? My guess is that they’re tied. Socialist windbags both!