Just another race hustling political hack

Byline: | Category: 2008 Presidential Election | Posted at: Thursday, 9 October 2008

Much of Barack Obama’s appeal is that he is an honest, “post-racial,” and new kind of candidate.  But is that true?  Let’s look at a lawsuit with a couple of interesting names in it:

Cas­e­ Name­
B­uy­cks-Rob­erson­ v­. Ci­t­i­b­an­k F­ed. Sav­. B­an­k

C­as­e S­ummary
P­la­int­iffs filed­ t­heir cla­ss a­ct­io­n la­w­suit­ o­n July 6, 1994, a­lleg­ing­ t­ha­t­ Cit­iba­nk­ ha­d­ eng­a­g­ed­ in red­lining­ p­ra­ct­ices in t­he Chica­g­o­ m­et­ro­p­o­lit­a­n a­rea­ in vio­la­t­io­n o­f t­he Equa­l Cred­it­ O­p­p­o­rt­unit­y A­ct­ (ECO­A­), 15 U.S.C. 1691; t­he Fa­ir Ho­using­ A­ct­, 42 U.S.C. 3601-3619; t­he T­hirt­eent­h A­m­end­m­ent­ t­o­ t­he U.S. Co­nst­it­ut­io­n; a­nd­ 42 U.S.C. 1981, 1982. P­la­int­iffs a­lleg­ed­ t­ha­t­ t­he D­efend­a­nt­-ba­nk­ reject­ed­ lo­a­n a­p­p­lica­t­io­ns o­f m­ino­rit­y a­p­p­lica­nt­s w­hile a­p­p­ro­ving­ lo­a­n a­p­p­lica­t­io­ns filed­ by w­hit­e a­p­p­lica­nt­s w­it­h sim­ila­r fina­ncia­l cha­ra­ct­erist­ics a­nd­ cred­it­ hist­o­ries. P­la­int­iffs so­ug­ht­ injunct­ive relief, a­ct­ua­l d­a­m­a­g­es, a­nd­ p­unit­ive d­a­m­a­g­es.

Among the attorneys for the plaintiffs:
Oba­m­­a­, Ba­r­a­ck H­. (Illinois­)

Barack Obama was a lawyer working on behalf of ACORN, yes that ACORN, the organization that orchestrated this case and hundreds of others like it, all of them alleging that racism was the sole reason that minority home ownership lagged.

ACORN was pushing mortgage lenders to change lending standards for minority applicants through lawsuits–a modern form or extortion.  They didn’t stop there; their PACs and lobbyists funneled money to their allies in Congress so that would write new legislation to mandate that Fannie Mae and Freddie Mac make more high-risk loans to those who couldn’t afford to pay them back. 

And just who were those Congressmen that Freddie and Fannie gave money to?  Well, the receiver of the second highest amount of campaign contributions from these groups from 1989 to 2008 was Barack Obama–an astounding record given that he had been in the Senate only four of those twenty years. 

By 2004 it was obvious to some in Congress that the high risk loans were going to bankrupt Fannie and Freddie, and that the taxpayers would end up paying the bill.  Rep. Ed Royce (R-CA) was one such Congressman who saw the future coming (2:29 in the video): 

There is a very simple solution.  Congress must create a new regulator with powers at least equal to those of other financial regulators such as the OCC or the Federal Reserve.

So what kind of protection from increased federal regulation did Fannie and Freddie get for their campaign contributions?  Rep. Maxine Waters (D-CA) protected Fannie Mae and Freddie Mac this way (0:40 in the video):

Mr. Chairman, We do not have a crisis at Freddie Mac, and in particular at Fannie Mae under the outstanding leadership of Mr. Frank Raines.

Yes, that Frank Raines.  The former CEO of Fannie Mae.  The same one whose “extensive financial fraud” drove Fannie Mae into insolvency even as he took a $90 million dollar payout from the company that he bankrupted.

Others were even more direct in their criticism of Republican calls for increased financial regulations of Fannie and Freddie.  Rep. Lacy Clay (D-MS) was perhaps the worst (2:16 in the video): 

This hearing is about the political lynching of Franklin Raines.

Lynching!  It doesn’t get worse than that.  When a black Congressman complains that a black businessman is being lynched by a white Republican, it is the ace of spades in a deck of race cards.

There is much more about this story to break, but here’s what we do know: 

Barack Obama abused race to benefit a corrupt organization (ACORN).  He never supported Republican calls for common sense regulations of two now-bankrupt companies (Fannie Mae and Freddie Mac).  In exchange for his support hiding those companies’ insolvency, he received tens of thousands of dollars of campaign contributions.  And when the house of race cards he helped build, came crashing down upon the American taxpayer, he flat-out lied and said that it was Republicans who prevented common sense regulations that caused the mess.  He and his party created the problem, and he now thinks that he can get away with sweeping his blame under the rug of American disgust with President Bush.

This is not an honest, post-racial, new kind of politician.  Barack Obama is, in fact, just another lying, cheating, race hustling, Chicago-machine, political hack.

UPDATE:

Before you argue that Obama’s involvement with ACORN is a decade old, there’s this:

U.S. Sen. Barack Obama’s presidential campaign paid more than $800,000 to an offshoot of the liberal Association of Community Organizations for Reform Now for services the Democrat’s campaign says it mistakenly misrepresented in federal reports. An Obama spokesman said Federal Election Commission reports would be amended to show Citizens Services Inc. — a subsidiary of ACORN — worked in “get-out-the-vote” projects, instead of activities such as polling, advance work and staging major events as stated in FEC finance reports filed during the primary.

The good news is that, in Ohio at least, it looks like Obama didn’t get his money’s worth.

Share this post:

7 Responses to “Just another race hustling political hack”

  1. Sean Braisted Says:

    First, I find it funny you lectured me about not using nicknames for McCain, when you feel free to call him a race hustler.

    Second, what was the verdict on the case? Was Citibank discriminating against people of color who had equivalent financial situations to white customers?

    Ed: The case was settled out of court, which is common when groups like ACORN or Jesse Jackson’s “Rainbow PUSH Coalition” sue a corporation. Even when in the right, it is usually not worth the bad publicity for companies like Citibank to fight the case. Even if you fight and win you’ve still lost a PR battle in the court of public opinion.

    Here is a New York Post description of the practice:

    CRA [Community Reinvestment Act] was meant to encourage banks to make loans to high-risk borrowers, often minorities living in unstable neighborhoods. That has provided an opening to radical groups like ACORN (the Association of Community Organizations for Reform Now) to abuse the law by forcing banks to make hundreds of millions of dollars in “subprime” loans to often uncreditworthy poor and minority customers.

    Any bank that wants to expand or merge with another has to show it has complied with CRA – and approval can be held up by complaints filed by groups like ACORN.

    In fact, intimidation tactics, public charges of racism and threats to use CRA to block business expansion have enabled ACORN to extract hundreds of millions of dollars in loans and contributions from America’s financial institutions.

    Banks already overexposed by these shaky loans were pushed still further in the wrong direction when government-sponsored Fannie Mae and Freddie Mac began buying up their bad loans and offering them for sale on world markets.

    Another name for it is “race-hustling.” Or if you prefer, “racially-motivated legalized extortion.”

  2. Sean Braisted Says:

    So you think it is wrong for any lawyer to try and enforce the FHA? So I suppose you want to see the Fair Housing Act scrapped?

  3. Jim Boyd Says:

    “The case was settled out of court, which is common when groups like ACORN or Jesse Jackson’s “Rainbow PUSH Coalition” sue a corporation.”

    That’s called a ‘shakedown.’ Quite common in race politics.

  4. BobKrumm.com » More Obama-ACORN ties Says:

    […] McCain-Palin campaign is now finally highlighting the connection between Barack Obama, ACORN, and the huge role that both played in the current financial […]

  5. BobKrumm.com » Who’s race-baiting whom? Says:

    […] review the record:  Barack Obama abused race to benefit a corrupt organization (ACORN).  He never supported […]

  6. Mays Says:

    If we’re going to talk about ACORN and lawsuits, you MUST talk about the various lawsuits ACORN and other voter rights organizations won against blatantly corrupt pols like Ken Blackwell or else you’re not presenting the entire picture.

    But, presenting the complete picture isn’t the goal is it? Ginning up a false controversy over some money hungry workers weak attempt at inflating voter registration rolls that were flagged by ACORN appears to be what’s what.

    It serves no one well to conflate ACORNs voter registration drives with the credit crunch (which I thought you didn’t believe was real anyway).

    Moreover, redlining is a very real problem. It’s ridiculous to assert that attempting to address the matter through proper legal channels is “race hustling.”

    But then, it’s near the end, Obama is a likely winner and this is all you guys have left. Sad.

    Ed: “Blatantly corrupt pols like Ken Blackwell.” I first met Mr. Blackwell thirty years ago when he was Cincinnati’s Mayor. He was only the city’s second black mayor. But he never gets any credit for that because, well, I guess he never whined about his race holding him back. It obviously didn’t. I volunteered for him when he ran for Congress while I was in college. He was and is a decent and honorable man. And everything that you castigated him for while he was Ohio’s Secretary of State in 2004 (I bet you really think it was Diebold–sad), you can see Jennifer Brunner, his Democratic successor do today–only even more blatantly. But hey, go ahead and scream “RACIST” even while you tear down a black man for the sole crime of holding a different political opinion.

    Nothing to see here at ACORN; move along.

  7. Mays Says:

    Bob, that’s bull. I want you to point to any statement I’ve made regarding ACORN or Blackwell where I used the word “racist.” Point to any statement where I have ever said Black Republicans were “sellouts.” Don’t put words in my mouth.

    Blackwell admits to his holdings in Diebold and the letter I referenced is a matter of record. Whatever you claim Brunner is doing does not excuse what Blackwell tried to do, or are we so desperate that we’re on the “2 wrongs make a right” theory?

    Dude, no one ever gets credit for being the second. How many Silver medal winners do you see on a Wheaties box?

    Also, do decent and honorable men try to press rules that seek to repress the right to vote?