More sub-prime mortgage lending required of small banks in St. Louis by Midwest BankCentre by Obama’s Justice Department.
Sub-prime mortgage loans played a prominent place in the financial melt-down. Requiring banks to make loans to persons who lacked credit to repay the loans started under Clinton/ Reno and continues today under Obama/ Holder. Now the Obama’s Justice department requires small banks to make risky loans.
Keep a close eye on Obama’s Assistant Attorney General Thomas E. Perez with the Civil Rights’s Division. By his words and actions Obama/ Perez show no understanding that ” Justice cannot be for one side alone but must be for both…” (Eleanor Roosevelt).
Supported in his confirmation by Republicans Tony O’Donnell and John Kane, Thomas E. Perez has zealously pursued Obama’s lopsided form of justice: Assist. AG Perez refused to prosecute Black Panthers wielding baseball bats outside polling places. Assist. AG Perez opposes the Arizona immigration law.
Latest Obama/Perez lopsided justice: Obama’s Justice Department mandates MORE sub prime loans to minorities in St Louis. This is more of Obama’s policy to “level the playing field”. DrCameronJackson@gmail.com
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from Conservative Underground
A Renewed Crackdown on Redlining
by Clea Benson, 5 May 2011
Community activists in St. Louis [targeted] Midwest BankCentre, a small bank that has been operating in St. Louis’s predominantly white, middle-class suburbs for over a century, for failing to issue home mortgages or open branches in disadvantaged areas. Although executives at the bank say they don’t discriminate, Midwest BankCentre’s latest annual report says it is in the process of negotiating a settlement with U.S. Justice Dept….
“We are using every tool in our arsenal to combat lending discrimination,†Thomas E. Perez, the assistant attorney general for the Civil Rights Div., told a conference of community development associates….
To some banks the crackdown has come as a surprise…. Like Midwest BankCentre, some lenders are being cited for failing to operate in minority and low-income census tracts near their branches, even when they have never done business there before.
Midwest BankCentre Chairman Ronald T. Barnes recently announced the bank would open a branch in Pagedale, a town near St. Louis that is predominantly [97%] African American.
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“Perez is playing a leading role in the Justice Department’s lawsuit against Arizona’s new immigration law. He is promising a huge increase in prosecution of alleged hate crimes. He vows to use ‘disparate impact theory’ to pursue discrimination cases where there is no intent to discriminate but a difference in results, such as in test scores or mortgage lending, that Perez wants to change. He is even considering a crackdown on Web sites on the theory that the Internet is a ‘public accommodation‘ as defined by the Americans with Disabilities Act.. . . .Perez is pursuing his goals with a lot of muscle, powered by a major appropriations increase in President Obama’s 2010 budget. ‘I am going to be calling each and every one of you to recruit you, because we’ve got 102 new positions in our budget,‘ Perez told the liberal lawyers last year. ‘One hundred and two people, when added to a base of 715 people. … that’s a real opportunity to make a difference.’†(Underscoring Forum’s.)
Two prominent members of governor Bob Ehrlich’s team when he was in office (2003-2007), House of Delegates Republican Whip (Republican leader since 2007) Tony O’Donnell and former Maryland GOP chairman John Kane later (in 2009) wrote here and here to the U. S. Senate Judiciary panel to support Mr. Perez’ confirmation. (John Kane is the husband of Mary Kane selected as Mr. Ehrlich’s running mate this year.)
Alert voters, however, will ask what role Mr. O’Donnell and Mr. Kane will play as part of any leadership team or “kitchen cabinet†should Mr. Ehrlich again be elected governor. After all, Mr. Perez was unlikely to foster an “entrepreneur agenda†– – anywhere – – and those who supported him for Senate confirmation ignored that obvious fact.
Mr. O’Donnell’s and Mr. Kane’s judgment in this matter was clearly lacking. Both had sufficient warning about Perez’ activities.
As Byron York explains – –
“Heading the Civil Rights Division is the opportunity of a lifetime for Perez. A former aide to the late Sen. Ted Kennedy, he was an activist and later a councilman in Montgomery County, Md., where he made a name for himself pushing in-state tuition and drivers’ licenses for illegal immigrants.â€
Nor has Mr. O’Donnell nor Mr. Kane expressed any public regret for supporting Tom Perez. Does being part of the Maryland GOP Establishment mean never having to say I’m sorry?
Conservatives might also want to ask Maryland Republican delegates why they have not held their leader Mr. O’Donnell publicly accountable for his support of Tom Perez.
[…] small banks that refused to make high risk loans…They called it "discrimination"….Aptos, CA psychologsit: Obama’s Justice dept. forces small bank to make sub-prime loans. This … And here is an example of the kind of mentality that ran the housing market into the ground. The […]