Forced Mortgage Meltdown

Forced Mortgage Meltdown

Note this from Mike Huckabee:

Yesterday, the Daily Caller revealed some previously unpublished court information about a
landmark case that many consider the fuse that set off the subprime mortgage boom and
eventually, the economic meltdown. It was a 1995 discrimination lawsuit against Citibank, on
behalf of a group of African-Americans who claimed they couldn’t get loans because of their
race. It was part of a coordinated effort at the time by progressive groups. The banks didn’t
want to be sued or accused of racism, so they loosened requirements for credit history and
down payments. What the Daily Caller discovered is that among the original plaintiffs in that
case, there was a startling loan failure rate. Out of about 186 homebuyers, roughly half have
since gone bankrupt or received one or more foreclosure notices. As few as 19 still own homes
with clean credit ratings. Even some of the plaintiffs now say the banks never should’ve made
those loans.

And here’s the kicker: the lead attorney on that case that prompted banks to start making
home loans to people who couldn’t qualify for them was a young Chicago community activist
named Barack Obama.

So, now your taxes can buy government deadly force to secure similar destruction of the American economy for similar reasons with the same lawyer (though disbarred I believe) at the helm.

-ABE