President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.
As few as 19 of those 186 clients still own homes with clean credit ratings, following a decade in which Obama and other progressives pushed banks to provide mortgages to poor African Americans.The startling failure rate among Obama’s private sector clients was discovered during The Daily Caller’s review of previously unpublished court information from the lawsuit that a young Obama worked on as an attorney for the lead plaintiff.
Lawyer Obama leaned hard on Citibank to force “predatory lending” to subprime borrowers. The loan wrangler.
Tags: Obama, Subprime mortgage bubble, Tex Earnhardt GMC, The loan Wrangler
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