Dinesh D'Souza Quote

Starting in the Clinton era and continuing through George W. Bush’s two terms, progressive activists mounted direct pressure—either in the form of public protest or lawsuits—against banks. This was aimed at intimidating banks to adopt new lending standards and also to engage the activist groups themselves in the lending process. In 1994, a young Barack Obama, recently graduated from Harvard Law School, joined two other attorneys in suing Citibank for discriminatory lending because it had denied home loans to several bank applicants. The case was called Selma S. Buycks-Roberson v. Citibank. Citibank denied wrongdoing, but as often happens in such situations, it settled the lawsuit to avoid litigation costs and the negative publicity. Selma Buycks-Roberson and two of her fellow plaintiffs altogether received $60,000, and Obama and his fellow lawyers received nearly a million dollars in legal fees. This was a small salvo in a massive fusillade of lawsuits filed against banks and financial institutions in the 1990s. ACORN, the most notorious of these groups, had its own ally in the Clinton administration: Hillary Clinton. (Around the same time, ACORN was also training an aspiring community activist named Barack Obama.) Hillary helped to raise money for ACORN and also for a closely allied group, the Industrial Areas Foundation. The IAF had been founded by Saul Alinsky and continued to operate as an aggressive leftist pressure group long after Alinsky’s death in 1972. Hillary lent her name to these groups’ projects and met several times with their organizers in the White House. ACORN’s efforts were also supported by progressive politicians like Nancy Pelosi, Barney Frank, Jon Corzine, Chuck Schumer, and Harry Reid. These politicians berated the banks to make loans easier to get. I do not want the same kind of focus on safety and soundness, Frank said at a September 25, 2003, hearing. I want to roll the dice a little more.