d.b Let's take a closer look at this shall we?
<<<CRE which was a factor in causing the economic crisis>>>> Quite possible. The problem was caused by many factors. How would a reasonably objective and sane person arrive at a determination as to how big a factor? <<<This stink means that the bank faces thousands of people closing their accounts>>> Those people have no money. If they did they should have no problem getting a home loan. How much money could poor people have in their accounts? You think big corporations and wealthy people are going to pull out big money in support of ACORN?Wouldn't losing a few small accounts be better in the long run than being "forced" to make bad loans? Why not defuse the "stink" by proving ACORN'S charges false? >>>Who is going to launch a big campaign to get the bank's reputation back?<<<< Uh, the banks themselves. Almost all have huge PR departments. They spend fortunes doing such things already. You've never seen a bank advertise? Why do you think God created ad agencies and PR firms? >>> Judge Castillo granted plantiffs motion to compel discovery of an ample amount of defendant-banks loan application files.<<< And 12 days after the judge did that "the parties voluntarily dismissed the case". NOW, your not the least bit curious as to what the defendant banks didn't want "discovered" and made public so badly they were happy to let themselves be "forced' to make loans they believed to be bad? Could it be, just possibly, that they were guilty as charged and didn't want THAT "discovered"? On Oct 9, 5:21 pm, "d.b.baker" <[EMAIL PROTECTED]> wrote: > [Q] - Do you remember how we told you that the Democ > rats and groups associated with them leaned on banks and > even sued to get them to make bad loans under the C > ommunity Reinvestment Act which was a factor in c > ausing the economic crisis (see HERE and HERE ) … well > look at what some fellow bloggers have dug up whil > e researching Obama’s legal career. Looks like a > typical ACORN lawsuit to get banks to hand out bad l > oans. > > In these lawsuits, ACORN makes a bogus claim of > Redlining (denying poor people loans because o > f their ethnic heritage). They protest and get the lo > cal media to raise a big stink. This stink means > that the bank faces thousands of people closing > their accounts and get local politicians to lo > bby to stop the bank from doing some future busines > s, expansions and mergers. If the bank goes to co > urt, they will win, but the damage is already done be > cause who is going to launch a big campaign to get > the bank’s reputation back? > > It is important to understand the nature of these l > awsuits and what their purpose is. ACORN filed ton > s of these lawsuits and ALL of them allege racis > m. > > Case Name > Buycks-Roberson v. Citibank Fed. Sav. Bank Fair H > ousing/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 prac > tices in the Chicago metropolitan area in violation o > f the Equal Credit Opportunity Act (ECOA), 15 U.S.C. > 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Th > irteenth Amendment to the U.S. Constitution; and 42 > U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant- > bank rejected loan applications of minority applican > ts 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 gran > ted Plaintiffs’ motion to compel discovery of a s > ample of Defendant-bank’s loan application files. Buyc > ks-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.. [...] > > Obama, Barack H. (Illinois) > FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 > > http://www.mediacircus.com/2008/10/obama-sued-citibank-under-cra-to-f... --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
