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This is The Political Scene, a weekly conversation with New Yorker writers and editors about politics.

It's Thursday, July 17th. I'm Curtis Fox, producer of this program, in for Dorothy Wickenden.

This week on the podcast, how much is the rights animosity toward President Obama rooted in racism?

Partisanship has become kind of a stand-in for other kind of social biases that are no longer

acceptable.

I'll speak with Jolani Cobb about Obama and race in just a few minutes, but first, let's consider

the Cit Group settlement.

On Monday, Attorney General Eric Holder announced a $7 billion settlement with Citigroup for mortgage fraud.

Now, this total includes a civil penalty of $4 billion, the largest penalty to date of its kind.

James Surwicky writes the financial page column in the magazine, and he blogs frequently for the New Yorker's website.

Jim, remind us first what

Citigroup is being punished for. Well, essentially the argument is that they misrepresented

...