Clinton Aid Adviser to Sub-Prime Mortgage Lender
By Pamela Gentry, Senior Political Producer
March 31, 2008 – Sen. Hillary Clinton (D-N.Y.) is railing on unscrupulous lending 
practices by sub-prime mortgage lenders and offering up solutions to mitigate the crisis while one of her top advisers had been on the board of one of the nation’s biggest culprits in housing scandal.
Maggie Williams, Clinton’s campaign manager, joined the board and advised the now bankrupt sub-prime lender Delta Financial Corporation for seven years, according to Security Exchange Commission. Williams was recruited for the board after the New York-based lender came under federal scrutiny for discriminatory lending practices.
But there is no indication Williams, an African American, worked to protect folks from the practices that made tons of money for investors and cost working-class people their homes.
Williams did, however, make her share of cash while on the board. As of September of 2007 Williams’ shares of Delta’s stock earned her at least $175,000.
How?
Delta Financing did just what Clinton says she wants stopped. Under a subsidiary, Delta Funding, the company made huge profits by turning around and selling loans it purchased for profit. The company offered refinancing to homeowners of moderate and middle incomes – often in Black neighborhoods. The company even penalized folks who tried to pay the loans off early, a practice Clinton has been grandstanding against in recent days.
Williams had to know how the Long Island-based company was raking in millions during her tenure on the board, but she stayed until the bubble burst and the company filed bankruptcy. She left in December 2007, just a couple of months before she came to her current position with the Clinton campaign. I would like to give Williams the benefit of the doubt and say she didn’t sell Black folks down the river, but she had to know how Delta Financing was making some serious cash.
Homeowners were talked “out of” fixed 30-year mortgages, at 6.2 percent, and “in to” loans with rates anywhere from 11.3 percent to 13.6 percent, according to Federal Financial Institutions Examination Council (FFIEC), an inter-agency body that recommends standards for U.S. financial institutions,. These were rates they couldn’t afford to pay back, and borrowers found themselves forced into foreclosure.
Williams’ close relationship with the lender ended just two months before she became a top Clinton adviser, this brings into question how tough the New York senator could really be on these lenders. It’s not clear if Williams filled any volunteer position with the Clinton campaign while at the same time serving on board of Delta Financing.
It also calls into question if the Clinton’s have investments in or have profited from companies like Delta Financing? The campaign continues to stall on the release of the Clinton’s tax returns and have worked feverishly to keep the list of donors to President Clinton’s library under wraps.
Wonder why?
Snake’s lies with Snake’s. I bet she has been working for the Clintons since Bill’s Campaign and has not stop in form or another. She a Crook just like they are. The Ultimate Aunt Tammy.
Why is anyone surprised that the Clintons are lying and omitting the whole truth.
R U NOT ALLOWING COMMENTS?
I AM AN OBAMA SUPPORTER.
THIS PARTICULAR BLOG STINKS. IT WILL NOT ALLOW YOU TO QUESTION….
OBAMA 08
SHAME ON YOU PAMELA, R U TELLING THE WHOLE TRUTH IS SO WHY IS’NT THIS ON THE MAJOOR NEWS CHANNELS?
OBAMA 08
Shame on the Clintons.
BARACK OBAMA 08′!!!!!!!!!!!!!!!!!!!!!!!
GLORIA J HOWARD,
Because the MMS is afraid of that they will be accused of picking on Hillary if they report anything negative about her. Didn’t you notice how she got away with the Bosnia lie.
There all the same,full off s—-
Gloria, what are you talkin about? she is putting it out there about Hilary, but i wanted to add that just because Maggie worked for this group, doesnt mean that hilary knew about her job and what was going on there, or that she received money from that lender @ all. and I am supporting obama, but not because of issues like this
Linking what Ms.Williams is accused of to Sen. Clinton is as rediculous as linking Sen.Obama to Pastor Wright’s sermon.We need too concentrate on political policy instead of mudslinging if we don’t want Sen. McCain in the White House.
I am a supporter of Obama. This should prove to people, and not just black people, all people, how the Clintons’ operate. It is no way that Hillary did not know what Mrs. Williams was doing. If she did not know, than that should prove to the world how she does her work before even hiring someone, so therefore, how can I as a working citizen trying to accomplish the best for my family, put trust in Hillary to do her work as a president. The words of Bill Cosby, “Wake up People.”
Ms. Williams is a smart, savvy businesswoman who knew that her company was selling deceit and false hopes just like Hillary knew that she was lying about Bosnia. No difference. On the other hand, Obama has no control on what comes out of the mouth of his pastor and neither do we. That was a stupid comparison.
Ms. Maggie William’s if this is true, shame on you
what you are being accuse of is destroying black
families by ripping them off people with the
fraudulent refianacing pratices.
Shame-Shame-Shame……………
Ms williams is going to be used as a scape goat we no you can’t always beleive what you see in media, give her a chance, hear her side, she will be tossed aside by the clintons when shes not needed by them, i feel sorry for her.
Gerri
I am a Obama suppoter but DO WE REALLY KNOW that Hillary knew what Maggie was into, or is that just speculation? I think that Hillary would have distanced herself from Maggie at this point in the campaign.
i think that we need to focus on the issue at hand!!! Let’s stop all the mud slinging and focus on who is going to get the republican out of office!!!!
I am sorry about this, but I think it’s true.
SHAME ON YOU PAMELA, R U TELLING THE WHOLE TRUTH IS SO WHY IS’NT THIS ON THE MAJOOR NEWS CHANNELS?
OBAMA 08
please go to this site.http://www.huffingtonpost.com/2008/03/29/clinton-campaign-manager-_n_94064.html
wake up call black america and we thought that we had our first black president Mr.CLINTON.blacks voting for ms.clinton please get out of masters house.DISRESPECTING the truly first BLACK PRESIDENT.
If this is true about Ms. Williams, that is pitiful. What have you done to the hardworking black people of America. If this is not true, please clear your name, just for your sake and for the sake of your future employment. People are right, we need to focus on what is important and that are the issues that are plaguing us now.
Shame, shame on you Ms. Williams. We are already known as not supporting each other (black people), and you take away from your own race. I know that you can’t be that hard up for money. If this is true, shame on you, and what goes around, come back to you.
This blog is filled with nothing but a bunch of racist black folk who can’t see past color!
I have narrowed my choices for president down to 2. Obama or McCain. I am looking for someone with some moral backbone, brains and a willingness to stand up for what is right for America. Well, Hillary is just not it. The constat fighting divides not only the Democrats but all American at a time when we need to come together to solve our common problems.
I guess my post do not count?
if what we read is true, i feel sorry for the raft that ms.williams is soon to endure.
I think that it is time that people stop judging these candidates on the basis of what those around them are doing or saying. I do believe that we are all individuals with our own minds and souls. And further more stop hating the Clintons I wonder if you would be hating if she wasn’t running against a black man! Just in case you are guessing I am a proud black woman that is not voting OBAMA!
BARACK 08!!!
What’s going on here?I will call Bob Johnson now to take this down I have friends in high places lol……Clinton’s will be clintons I have powers..Like a superman of Politic’s lol
Shame on you Ms. Williams. You are a disgrace to people 50 and over if this is true.
Why is everone so surprised. We all (black people) have over looked the Clinton’s dirt for over a decade. Don’t say they were clean they just never got caught in one of thier shaky deals. No one would rat on them. If we black people look at everthing about the Clinton’s not just what the media want’s us to think (First Black President) we all might see somethings about the Clinton Presidency not so great. More black people being locked up in history due to mandatory sentencing, NAFTA just to name a couple. Now we see that they are willing to play the race card to win middle and rural white votes. Knowing that black’s will be mad still not caring, doing anything to win! What really burns me up the most that if she does steal the election, how they will spin it to get our very important vote back!! That’s why it hurt’s to my heart to see our representive like Ms. Williams and congress people give thier support to Sen. Clinton win the only difference is not policy, only race and gender. Which is what everyone see’s first not your gender your race. Wake up my people!!!!!!!!
Just goes to show; if over the HILL-ary wont’t QUIT they will find things to get you OUT! I dont think she checks people out before she employs them??? And people are suppose to trust her with running the country??? If that phone rings @3am I for one HOPE she isn’t there to ANSWER IT!!! GO BARACK 08!!!
And you better believe when the whole thing goes down that she being a Black woman will take the fall! What about the other white men that are just as guilty of the Prime Loan fiasco? Why is she the only one I have seen in the news accused of scamming people concerning these loans? She’s the new Clinton’s new “scapegoat”!
go obama, hilary is a big liar she would do anything to try to win this election. GOD is behind obama. google this out hilary bosnia and read the reactions of the bosnias.
obama i will pray for you GOD be with you.
Shame on BET for not allowing all post to come forward.
Clinton has always been a liar and a trickster! this does not suprise me at all!
SHAME ON THE CLINTONS PERIOD!!! THEY STARTED THE MUDSLINGING IN THE FIRST PLACE BEGINNING WITH HILLARY BEING RUDE TO BARACK OBAMA AT THE SOUTH CAROLINA CAUCUS! IT IS TIME FOR A CHANGE! BARACK IS THE MAN!
SHAME ON THE CLINTONS PERIOD!!! THEY STARTED THE MUDSLINGING FROM THE BEGINNING AND BARACK HAS KEPT IT CLEAN AND POLITICAL! BARACK’S CHARACTER SHOULD NOT BE ATTACKED BASED ON HIS PASTOR’S REMARKS BUT HE SHOULD BE JUDGED ACCORDING TO WHAT COMES OUT OF HIS MOUTH AND NOT SOMEBODY ELSE’S. IT IS TIME FOR A CHANGE AND BARACK OBAMA IS THE MAN FOR CHANGE!
In reference to JUSTIN, how DARE you come on our site and call us racist black folk. I noticed something about you people, you devils hate to hear the truth comming from us. ALL you do is hate and still from us, and hate when we accomplish positive things in life. You ARE DEVILS, ALL OF YOU!!!!!!!!!!!!!!!!!
The story on Maggie Williams reflects on Maggie Williams and it shows that blacks are about the money just as much as whites and Obama is not clean so rather than using Williams to bash Clinton let’s just use Williams to bash Williams.
I am black by the way.
the best and right thing for ms. williams to do is to tell “EVERYBODY” the truth about EVERYTHING.You’re think your shocked about her. waity until she tells on everybody else. This is a great opportunity for OPRAH to do her thing. Trust me, she is not the only one involved in this and that is probabaly one of the reasons she has part in this. I say slean the slate and start over. it is the best thing for the people.
This does warrant the mainstream news!
HILLAR,
SHAME ON YOU. LIAR, LIAR, PANTS ON FIRE.
Wow alot of black folk’s are turning on the clinton’s that’s cold.I’m a Obama supporter but I
think the Clintons are good people and we are now being two faced ,because of our support for Obama,
but don’t kick the Clinton into the lion den…
They been very good and fair to our people.
Just one black man opinion…………
BroJay………….That’s because a lot of black folks are undercover racist! ………………..We are so busy trying to call out white people for racism when we are just as guilty. Since so many of you want to denounce what Bill Clinton did for America, I can’t wait to see what the saviour Obama does. You all will be calling him every name in the book as soon as he’s forced to past legislation that doesn’t benefit African-Americans.
Please stop comparing President Clinton’s positive presidential deeds to his wife and presidential candidate Hillary.
We stood by the President during a critical time during his presidency. When he really needed us we never waivered our support for him during his time of impeachment. We were very forgiving!
Despite his mistake I disagree with Chelsea….
I personally think that her father make the better president… That’s why I’m respectfully voting for Obama at this time and not her mom.
This has absolutely nothing at all to do with being an undercover racist… I am what I am… a black women voting for Senator Barack Obama.
When I voted for President Clinton I was still the same black women voting for Bill Clinton.
Justin I totally disagree with you black people are not racist but we are reactors to
racism.that just like saying jews are racist for
the people who were reponsible for the hollicust.
Diane:
I think Chelse opinion about her mother, I would be incline to think she would know more about her
parents than you.Also why do I believe if Obama
was’nt in this race we’ll be all up in Hillary grill….
Time to stop playing the same Washington game with the same folks… That’s a 21st century gamble!!!!
I find it hilarious when Black people are accused of being racist when anybody with a small amount of historical knowledge knows we have not enslaved,wholesale murdered, lynched or raped whites in abundance.It is always the case when blacks don’t agree with white folk opinions or outlook.This twisting of the facts arise from a defensive and guilt point of view.Another question is,how is it racist for Blacks too vote for blacks many,many whites will not vote for Blacks because they are blacks,is that racist ?
Now if you want to bring Clintons dirt to light why not mention Penny Pritzker. Obama’s national finance chairwoman, Penny Pritzker, was chairwoman of the board of a Chicago area bank in 1993 when it adopted a subprime business strategy that regulators say ultimately led it to collapse in 2001.
As I keep saying neither side is squeaky clean.
If you are going to make it a fair story you have to mention that Obama’s national finance chairwoman, Penny Pritzker, was chairwoman of the board of a Chicago-area bank in 1993 when it adopted a subprime business strategy that regulators say ultimately led it to collapse in 2001.
As I keep saying neither side is sqeaky clean!!!
Can my post show BET?
Look up Obama’s national finance chairwoman, Penny Pritzker
Justin what’s ya last name? I bet timbalake huh..continuely biting and wanna get paid. Yo son call a spade a spade and quit b-ishing this chick hiallry than caught up mo dirt in da last 2 months than people can keep up wit an da real datz jus the tip. For Obama cat on some MLK ish but he aint murkn and robbing nobody -so dat tell you watz good
Da Pennybaker ish real –hit me in da mouth I takes mine like a man nonetheless Hillary still drowning n dirt and on top is a cool patheological liar
gfv Een plaatje zegt alles, toch ? twq Het volledige rapport is hier te vinden. Lees natuurlijk g de blogposting. r r
Thanks for interesting post! sbl
[url=http://skuper.ru]??????[/url] 4r