The Daily Caller has a multi-installment scoop about the business practices of a little-known presidential candidate as its Labor Day story. This hard-nosed professional raised hopes of working-class people, made a million dollars off of them, and left almost all of them holding nothing more than worthless paper at the end of the relationship. Are we seeing another episode of How the Heartless Vampire Capitalist Turns, starring Mitt Romney? No, this one’s titled Fun With Community Organizers, starring Barack Obama.
The subject of the scoop is a class-action lawsuit filed in 1995 by Barack Obama on behalf of three lead plaintiffs and 180 subsidiary plaintiffs against Citibank for alleged discrimination in lending practices. It lead to a settlement in 1998 in which Citibank agreed to increase sub-prime lending to African-American borrowers. How did that work out for Obama’s clients? Not particularly well: