Sep 032012

CHICAGO, IL – OCTOBER 10: Vernice Thorn listens to speakers during a protest outside a meeting of the Futures Industry Association and the American Mortgage Bankers Association October 10, 2011 in Chicago, Illinois. Several thousand people participated in the protest which was organized by a coalition of community and labor groups. About twenty people were arrested at the protest during an act of civil disobedience. (Photo by Scott Olson/Getty Images)

A startling new story by The Daily Caller reveals how a mortgage discrimination lawsuit by then-attorney Barack Obama left many African Americans on the hook for home loans they couldn’t pay back. Tucker Carlson, founder of The Daily Caller, joined Fox and Friends this morning from North Carolina where the Democratic National Convention is set to take place this week.

He told Steve Doocy that the lawsuit was a class action suit of 186 clients, which accused Citibank of redlining — the process of excluding people from mortgages because they live in bad neighborhoods.

Carlson said that Obama was a lead plaintiff on some of these cases, though just a few years later many of the clients weren’t able to pay up. The lawsuit was pushed forward regardless, on the grounds that it was racist not to give them mortgages. He reported that nearly half of the clients from this 1995 lawsuit against Citibank have gone bankrupt or received foreclosure notices and only 19 still own homes.

According to Carlson, who was speaking on behalf of Neil Munro, the reporter who spent time investigating this, some of the plaintiffs didn’t know Obama was involved in the suit and were bewildered that they received loans when it was obvious that they couldn’t repay it.

Munro did not receive comment from the White House on this issue and found no evidence that Obama went back and spoke to the people he was representing.

Detailed Full story at The DC


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