“The head of the Greenlining Institute is in the film warning against subprime loans???<\/p>\n
…This short post not only posits the exact opposite theory than does Inside Job, but it actually points the finger of blame at Robert Gnaizda\u00e2\u20ac\u2122s Greenlining Institute as the ultimate cause of the problem, rather than as the heroes who tried to prevent the crisis…<\/p>\n
Everything shown in the film pretty much did happen as depicted. But here\u00e2\u20ac\u2122s the key point: It may be true, but it\u00e2\u20ac\u2122s irrelevant. The filmmakers are focusing on the glorious gory details of the financial explosion caused by the subprime loan crisis, but they aren\u00e2\u20ac\u2122t showing you who lit the fuse…<\/p>\n
Why did banks start making countless risky untenable loans to unqualified customers?<\/p>\n
And the answer is: Because they were afraid of being called racists by the legal bullies at the Greenlining Institute and other similar \u00e2\u20ac\u0153community organizers.\u00e2\u20ac\u009d<\/p>\n
…How does this connect to the presidential election? According to this 2007 article in the Chicago Sun-Times, Barack Obama\u00e2\u20ac\u2122s mysterious years as a \u00e2\u20ac\u0153community organizer\u00e2\u20ac\u009d were spent doing this exact thing: Accusing banks of racism for not giving loans to underqualified minority borrowers:<\/p>\n
Obama represented Calvin Roberson in a 1994 lawsuit against Citibank, charging the bank systematically denied mortgages to African-American applicants and others from minority neighborhoods.<\/p>\n
(A case which, by the way, Obama won. Add another risky loan to the pile.)<\/p>\n
…using the bullying tactics described above (and in the original article which first inspired my post), the Greenlining Institute (and similar groups) twisted the banks\u00e2\u20ac\u2122 arms to make risky loans, for the purpose of \u00e2\u20ac\u0153social justice,\u00e2\u20ac\u009d to use the activists\u00e2\u20ac\u2122 own terminology.”<\/p>\n