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Posts Tagged ‘The loan Wrangler’

Lawyer Obama Was Pioneering Contributor To Subprime Mortgage Bubble Via Mortgage Discrimination Law Suits, The Loan Wrangler

September 5, 2012

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failure rate among Obama’s private sector clients was  discovered during The Daily Caller’s review of previously unpublished court  information from the lawsuit that a young Obama worked on as an  attorney for the lead plaintiff.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.

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