“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. President Obama’s Chicago lawsuit now may become a national harbinger as he applies his Chicago-era policies to the entire nation. The president is reviving the ‘redlining’ suits as so-called ‘disparate impact’ lawsuits against banks, even when there is no evidence of discriminatory intent.”
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