Oh they didn't? President Obama (before he was President) was part of a team that sued Citi bank for not giving loans. And they based their argument on the Fair Housing Act and CRA.
And you can't see the difference between red-lining and giving loans to unqualified people? Really?
And oh by the way. Obama was the junior member of the team. He never argued in court. His total involvement was 2 hours and 50 minutes of billable hours. He had just graduated from Law School. And the case had absolutely nothing to do with income or credit qualifications of the applicants as it was a class action suit about banks denying loans based upon geographic areas excluding primarily minority neighborhoods from loans regardless of the credit-worthiness of the applicant. Citibank settled considerable money on in cash on several of the class members and agreed to end the practice. See?
And then, even after everyone saw sub prime loans destroy the economy, Obama pressured the same banks to continue the same devastating practices.
Are you SERIOUS? Whose money was he asking them to loan? The money the government had given them specifically so they would loan it to small business and stimulate the economy.
You appear not to know that there is a difference between a sub-prime loan and a business loan. They are two different things altogether. Using the term "sub prime" is just wrong. We gave a shit-pot load of taxpayer money to the banks for them to loan to business and they were sitting on it. Their claim that they were just being more carefull was clearly just so much bullshit.
And then I ask why you posted the quote that argues against your point?
Seriously...very seriously...can't anyone on this forum just debate the facts instead of bloviating about how ignorant the other side is?
You have been watching too much O'Rielly factor. I am getting very tired of people on the right speaking ex-cathedra on the economy and simply burping up what the talking heads are saying. Look at your own post guy. Both of your points were based upon right-wing talking points that were not based in fact in the first place. I don't blame you for the ignorance of the facts that led you astray. I blame you for not checking.
Read this article:
http://www.nytimes.com/2009/01/18/business/18bank.html?_r=1It will open your eyes and show you just what lunacy has been coming from Limbaugh, Hannity, Beck and a myriad of Republican politicians when they make these completely false claims about the Obama administration.
I don't like what Obama is doing. There is plenty to criticize him for. You just happened to choose two that were completely untrue. And then in the next sentence, claim I was the one who was bloviating. Sheesh!
"The issue isn't just jobs. Even slaves had jobs. The issue is wages." -- Jim Hightower