Obama Pro Quo
The Bear on Jul 06 2008 at 8:28 am | Filed under: Culture of Corruption
Corruption: Yet another Democrat’s sweetheart mortgage deal is exposed — and this time it’s the party’s standard bearer. What could Sen. Barack Obama do for a lender in exchange for more than $100,000? Plenty.
Obama, presumptive Democratic presidential nominee from Illinois and self-styled man of the people, lives in a mansion described by the Washington Post as featuring “six bedrooms, four fireplaces, a four-car garage and 5 1/2 baths, including a double steam shower and a marble powder room . . . a wine cellar, a music room, a library, a solarium, beveled glass doors and a granite-floored kitchen.”
Eyebrows are already raised by the Obamas’ purchase of the palatial abode in 2005 for $300,000 under its asking price of $1.95 million. The day that purchase closed, the since-convicted Chicago fraudster and early Obama fundraiser Tony Rezko bought an adjoining lot from the same seller for the full asking price of $625,000, which Obama admitted to the Chicago Sun-Times he then bought from Rezko for “above the appraised value” — “a mistake,” he said, giving the impression “that he had done me a favor.”
The Boston Globe reported last week that Rezko used federal subsidies Obama supported in the U.S. Senate to rehabilitate more than 1,000 apartments in and near Obama’s old state senate district. Rezko then neglected the homes “to the point where many no longer were habitable.”
Now the Washington Post reveals the Obamas got a sweetheart deal on their “super super jumbo” $1.32 million mortgage …
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