Trouble ahead for Warren Ballentine

You’re forgiven if you don’t know who he is. He’s a talk show host on the racially segregated Radio One network, along with Al Sharpton.

The Obama/Holder Department of Justice has charged him with involvement in a scheme to create fraudulent mortgage translations at the height of the real estate bubble.

He asserts that he is innocent

http://my.chicagotribune.com/#section/-1/article/p2p-74196466/

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2 Responses to Trouble ahead for Warren Ballentine

  1. popsmayhem says:

    Is this adult *tag*.

    Wonder who this guy pissed off to be *it*..

    • Art Stone says:

      He no longer lives in Chicago. My guess is the South Shore Bank (or more to the point – the FDIC)

      http://en.m.wikipedia.org/wiki/ShoreBank

      The Community Development Act which required mortgage lenders to aggressively offer mortgages in distressed areas with high default rates (with Freddie Mac and Fanny Mae taking on the risk) was exactly what this bank was about – bending the traditional rules about credit worthiness, employment history, criminal record in order to offset the history of discrimination based on membership in an oppressed ethnic group

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