Tony Rezko’s foreclosed mansion up for auction today – will Acorn show up and break the locks?
Obama pal and slumlord Tony Rezko’s Chicago mansion is up for auction today after being foreclosed on back in May. I’m wondering if Acorn will show up with their signs, and lock breakers to make sure “everyone deserves a home”? Thoughts? Tony Rezko is awaiting sentencing after being convicted last year on numerous corruption charges, most involving his role as an unofficial liaison for the disgraced administration of former Illinois Governor Rod Blagojevich. More on Rezko from Marathon Pundit:
Rezko also happens to have been Obama’s first political sponsor. The Rezko mansion was the site of a key fundraiser for Obama’s US Senate run in 2003. While Obama trailed badly in the polls, Rezko shepherded donors to his home, giving the little-known state senator serious cash to run with the next year.
Remember that sweatheart land deal Hussein Obama got from Tony Rezko that was under investigation?
Well it looks like Hussein Obama will get off scott free for this one too. From Judicial Watch’s Jill Farrell (background links/info here):
The Federal Election Commission (FEC) notified Judicial Watch this week that it has “closed the file” on our complaint against Senator Barack Obama for allegedly accepting a below market rate mortgage loan in 2005 not available to the general consumer. In its factual and legal analysis, however, the FEC does confirm that Obama obtained a discounted loan but said no laws were violated.
So, to sum: Yes Barack Obama did receive a special below-market loan the rest of us couldn’t get. And a big “no” to the idea that he ought to be held accountable for it. Upset? So are we.
Here’s a bit of the back story.
According to Judicial Watch’s original FEC complaint, filed July 8, 2008, Obama reportedly received a home loan of $1.32 million at a rate of 5.625 percent, although the average going rate on that day according to two different surveys was between 5.93 and 6 percent. Unlike what was reportedly available for the general consumer, this special below market “super super jumbo” loan, was secured without an origination fee or discount points.
According to The Washington Post, which first raised questions about Obama’s mortgage, the favorable interest rate would save Barack Obama $300 a month, which over the life of the 30-year loan, would be at least $108,000. Judicial Watch contends these preferential loan terms constitute an illegal corporate campaign contribution to Obama.
As Judicial Watch noted in its complaint, Northern Trust has supported Barack Obama’s political campaigns for elected office since 1990. Moreover, Northern Trust Vice President John O’Connell essentially admitted the company provided Obama preferential loan terms because of his position in the U.S. Senate. (Obama was a senator at the time.) “‘A person’s occupation and salary are two factors; I would expect those are two things we would take into consideration,’ O’Connell told The Washington Post [emphasis added]. “This was a business proposition for us.”
Now, the FEC’s legal analysis dismissed O’Connell’s admission. The FEC based its decision to exonerate Obama largely on the fact that Northern Trust claims it provided preferential terms to other “similarly situated borrowers” in addition to the Obama. Northern Trust’s new explanation was that 8 of 14 of similarly situated borrowers (including Obama) received a mortgage loan discount.
Who are these unnamed “similarly situated” borrowers? Are they also elected officials? We don’t know because neither Northern Trust nor the FEC have been forthcoming with any details.
Needless to say, as I told the press this week, for the FEC to base its decision to excuse Obama on the fact that a few other unnamed borrowers also received sweetheart mortgages seems irresponsible. Look no further than the Countrywide which doled out corrupt to numerous public officials to see the massive hole in that logic.
The fact is Northern Trust’s president admitted Obama received the loan, in part, based on his position. This is improper and almost certainly constitutes an illegal campaign contribution (or gift). In our view, the FEC’s response is inadequate and it certainly does not serve the public’s interest.
Rezko attorney ‘owns’ Obama mansion – more liberal MSM coverup for Hussein Obama
According to Jerome Corsi and World Net Daily, an attorney for convicted fundraiser Tony Rezko is listed as the owner and taxpayer for Barack Obama’s Chicago mansion, according to records obtained by WND. William Miceli is a lawyer at the Chicago law firm Miner, Barnhill & Galland, which also formerly employed Obama. The controversy began when a website called News and Commentary for Thinking People published a 48-page document that lists Miceli as the owner of the Obama home at 5046 Greenwood. Miner, Barnhill & Galland was Obama’s employer when he did extensive legal work for Rezko, who awaits sentencing after he was convicted in June of fraud, money laundering and bribery-related counts. Miceli, as a senior attorney at the firm, supervised Obama when the future president wrote letters on behalf of Rezko urging public authorities to award him new public properties to rehabilitate, notes the “Barack Book” website maintained by GOP.com. WND asked for comment from Obama’s transition team and the Democratic National Committee but did not receive a response.
Fitzgerald may share Blago tapes and transcripts with impeachment panel
Unlike the L.A. times which still to this date has never released the tapes of Hussein Obama at Rashid Khalidi’s sendoff dinner from Chicago to New York some years back, U.S. Atty. Patrick Fitzgerald is telling a special Illinois House committee weighing the impeachment of Gov. Rod Blagojevich that his office won’t help the panel with witnesses members want to question and documents they want to see because it might compromise “an ongoing criminal investigation.” Fitzgerald did leave open the possibility that the 21-member House panel could get copies of secretly recorded tapes of Blagojevich from the governor’s campaign office and from his home telephone that were the basis of Blagojevich’s Dec. 9 arrest. Federal prosecutors will decide that issue perhaps later today.
Rezko and Obama’s chickens coming home to roost! Feds asking about Obama-Rezko land deal
Well Hussein Obama got a free ride during the entire campaign with his association with terrorists, racist preachers, Israel haters, and slumlords. Now it seems Rezko’s chickens are coming home to roost! Per the Washington Post:
A footnote to the 76-page criminal complaint and affidavit charging Illinois Gov. Rod Blagojevich (D) with soliciting bribes confirms what has long been rumored — that a former longtime friend and fundraiser for President-elect Barack Obama is talking to federal prosecutors in hopes of a reduced sentence.
Antoin “Tony” Rezko’s offer to provide authorities with evidence of others’ wrongdoing is “not complete,” and prosecutors are working to corroborate the claims he has made so far, the footnote said.
Rezko, a 53-year-old developer, was convicted in June of 16 criminal counts, including fraud, money laundering and abetting bribery. He is in custody awaiting sentencing.
Prosecutors depicted Rezko at trial as a fixer for Blagojevich and the man to see to secure a high-level appointment with the governor’s administration. Rezko had been a longtime fundraiser for Blagojevich and other Illinois politicians, including Obama.
Mickey Kaus puts together this article with a Washington Times story from Election Day (via Jim Geraghty):
A former Illinois real estate specialist says FBI agents have questioned him about a Chicago property that had been bought by convicted felon Tony Rezko’s wife and later sold to the couple’s next-door neighbor, Sen. Barack Obama.
The real estate specialist, Kenneth J. Conner, said bank officials replaced an appraisal review he prepared on the property and FBI agents were investigating in late 2007 whether the Rezko-Obama deal was proper.
“Agents and I talked about payoff, bribe, kickback for a long time, though it took them only a short number of minutes of talking with me while looking at the appraisal to acknowledge what they already seemed to know: The Rezko lot was grossly overvalued,” Mr. Conner told The Washington Times Monday.
“Rezko paid the asking price on the same day Obama paid $300,000 less than the asking price to the same seller for his adjacent mansion,” he said. “This begs the question of payoff, bribe, kickback.”
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