About Me

Name: Gabrielle Cusumano
Biography
Loading...

Create Your Own Blog Find Other Townhall Blogs

Comments

Archives

Search

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

Posted by Gabrielle Cusumano on Thursday, October 09, 2008 12:07:42 AM
"... 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
Posted on 03 October 2008   
All Credit to: IUSB Vision Web Log
Excerpt from: Chuck Norton, Editor IUSB Vision Web Log at: 
- http://iusbvision.wordpress.com/2008/09/30/obama-sued-citi bank-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

C-------, 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:   Chuck Norton, Editor IUSB Vision Web Log at:
 - http://iusbvision.wordpress.com/2008/09/30/obama-sued-citi bank-under-cra-to-force-it-to-make-bad-loans/

Editor's note here from Gabrielle Cusumano:
Today I received this email (below) and I apologize to Mr. Norton and IUSB Vision Web Log for my mistake in giving credit to another source.
Post from Mediacircus is plaigiarize The post from Mediacircus was plaigiarized from my site.
Here is my link - http://iusbvision.wordpress.com/2008/09/30/obama-sued-citi bank-under-cra-to-force-it-to-make-bad-loans/

Chuck Norton
Editor,
IUSB Vision Web Log

MORE  
 
 
 
 
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 ... read more >
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.

Andrew Nash - 06/02/2008

compress summary

Excerpted from: http://clearinghouse.wustl.edu/detail.php?id=10112
__________________________________________________________________________________________________________________________________________
Quoting Obama:
(A tie in with the current ACORN story)-
He  (Obama) said, just last year:
“I’ve been fighting alongside ACORN on issues you care about my entire career. Even before I was an elected official, when I ran Project Vote voter registration drive in Illinois, ACORN was smack dab in the middle of it, and we appreciate your work.” — Barack Obama, Speech to ACORN, November 2007
 
From: http://iusbvision.wordpress.com/2008/09/30/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/ 
 
 

Obama Sued Citibank Under CRA to Force it to Make Bad Loans - UPDATED

UPDATE V: AUDIO - OBAMA SAID IN 2007 THAT GIVING SUB-PRIME LOANS TO PEOPLE WHO COULDN’T AFFORD THEM WAS A GOOD IDEA!!! Hotair.com comments HERE.

“I’ve been fighting alongside ACORN on issues you care about my entire career. Even before I was an elected official, when I ran Project Vote voter registration drive in Illinois, ACORN was smack dab in the middle of it, and we appreciate your work.” — Barack Obama, Speech to ACORN, November 2007

__________________________________________________________________________________
This verifies Obama's complicity in theFannie Mae/Freddie Mac/ Mortgages Meltdown/Bailout Scandal Don't you!  G.C.
Email ItEmail It | Print ItPrint It | CommentsComments (2) | TrackbacksTrackbacks (0) | Flag as offensiveFlag as Offensive