re: #458 BryanS

Yes, that was the lawsuit claim—based on safe harbor quotas established by congress, Citibank was accused of not making enough loans in the Chicagoland area due to discrimination. The settlement that was agreed upon was that Citibank would increase the number of subprime loans it would underwrite. Curious enough, the lawsuit happened right when Citi was trying to go through a merger. This was a shakedown nuisance lawsuit.

But that had nothing to do with the CDOs, other instruments, and tranches that have gotten us to where we are today. That occurred because of the deregulation of the banking industry. Disaster, to let the instruments become the profit center of a speculative bubble.