Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans — 50% of them defaulted; only 10% still own homes:
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failure rate among Obama’s private sector clients was discovered during The Daily Caller’s review of previously unpublished court information from the lawsuit that Obama helmed as the lead plaintiff’s attorney.
http://dailycaller.com/2012/09/03/with-landmark-lawsuit-barack-obama-pushed-banks-to-give-subprime-loans-to-chicagos-african-americans/#ixzz25QWomNLA
“So what’s your point? Do you have a point?
George!”
“None of them defaulted. All of them still own homes.
Sir — Your holiness: how does it feel to be the hippest, coolest cat in the — “
-ABC “News” fraud George Stephanopoulos
” — I told ya: I get a lot of free stuff!“