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The Financial Crisis and the Supreme Court



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What’s the connection, you ask?  Well, here’s one (from my ongoing series of Bench Memos posts about Barack Obama’s Supreme Court candidates): 

 

Massachusetts governor Deval Patrick is a highly touted contender for a Supreme Court appointment by a President Obama.  Like many other Democratic racialists (including Obama), Patrick helped cause the ongoing mortgage crisis by establishing bad policies that he then personally profited from.  As one commentator wrote nearly a year ago:  

While at the Justice Department, former Clinton Administration official Deval Patrick, who is now governor of Massachusetts, used the pressure of federal lawsuits to force lenders to make risky loans, threatening them with redlining charges.… Then he left the Justice Department to make more money by receiving money from lenders eager to curry favor with him and thus avoid the wrath of his friends still at the Justice Department. Lenders hired him for a small fortune to “counsel” them about “predatory lending.” “Once outside government, Patrick made a bundle providing ‘cover’ for one lender as it navigated the landscape of sub-prime lending in minority communities.” 

(For my full posts on Deval Patrick, see Part 1 and Part 2.)



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