(Daily Caller) – President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.
As few as 19 of those 186 clients still own homes with clean credit ratings, following a decade in which Obama and other progressives pushed banks to provide mortgages to poor African Americans.
The startling failure rate among Obamaâ€™s private sector clients was discovered during The Daily Callerâ€™s review of previously unpublished court information from the lawsuit that a young Obama helmed as the lead plaintiffâ€™s attorney.
Since the mortgage bubble burst, some of his former clients are calling for a policy reversal.
â€œIf you see some people donâ€™t make enough money to afford the mortgage, why would you give them a loan?â€ asked Obama client John Buchanan. â€œThere should be some type of regulation against giving people loans they canâ€™t afford.â€
Banks â€œwere too eager to lend to many who didnâ€™t qualify,â€ said Don Byas, another client who saw banks lurch from caution to bubble-inflating recklessness. [RELATED: Obama's Citibank plaintiffs hit hard when housing bubble burst]
â€œI donâ€™t care what race you are. â€¦ You need to keep financial wisdom [separate] from trying to help your people,â€ said Byas, an autoworker.