Sources point to Obama as a possible starting point to the domino affect that lead to the housing crises we are now facing. Check the provided links and judge for yourself.
"In a 1995 case known as Buycks-Roberson v. Citibank, Obama and his fellow attorneys charged that Citibank was making too few loans to black applicants and won the case. As one commentator noted in May 2008, legal "successes" such as this were probably responsible for the sub-prime mortgage crisis of 2007 AND 2008. That is, banks were not loaning to blacks whose credit was poor. When the law forced them to lend money anyway, the inevitable collapse occurred."
Buycks-Roberson v. Citibank Fed. Sav. Bank
Obama’s Early Legal Career: Heavy on Advocacy for Blacks
A trillion here, a trillion there, pretty soon we're talking about real money
Obama was a key player in the lawsuit that started the government on a course of forcing lenders to give more loans to those who had poor credit. Lending companies were forced to come up with imaginative ways of fulfilling the quotas that were required. Sub-prime lending was born as a result. The mortgage crises was forecast by many who were able to look beyond the quota.
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