Obama's $300,000 question: Rezko? - Democratic Underground

Dante_

(246 posts) Send PM | Profile | Ignore

Thu Jan-24-08 11:39 PM
Original message

Obama's $300,000 question: Rezko?

Edited on Thu Jan-24-08 11:40 PM by Dante_

Are we just getting to know the real Obama?

"In sharp contrast to his tough talk about ethics reform in government, Sen. Barack Obama, D-Ill., approached a well-known Illinois political fixer under active federal investigation, Antoin "Tony" Rezko, for "advice" as he sought to find a way to buy a house shortly after being elected to the United States Senate."

"The parcel included an adjacent lot which Obama told the Chicago Tribune he could not afford because "it was already a stretch to buy the house."

On the same day Obama closed on his house, Rezko's wife bought the adjacent empty lot, meeting the condition of the seller who wanted to sell both properties at the same time.

Rezko had been widely reported to be under investigation by the U.S. attorney and the FBI at the time Obama contacted him and has since been indicted on corruption charges by a federal grand jury in a case that prosecutors say involves bribes, kickbacks and "efforts to illegally obtain millions of dollars."
"
http://abcnews.go.com/Blotter/story?id=4111483&page=1

and

http://www.suntimes.com/news/politics/obama/749138,obama20web.article

"A longstanding relationship

Rezko is one of Obama’s earliest political patrons. Long known as a prolific fund-raiser, the Syrian-born businessman helped raise money for Obama’s political campaigns beginning in 1995, when Obama was running for the Illinois Senate.

In 13 years in politics, Obama has gotten at least $168,000 in campaign donations from Rezko, his family and business associates. The Sun-Times reported that figure last June. Obama’s “best estimate” seven months earlier had been that Rezko had raised no more than $60,000 for him.

When Obama ran for the U.S. Senate, Rezko held a June 27, 2003, cocktail party in Rezko’s Wilmette mansion, picking up the tab for the lavish event. Obama’s campaign staff has said it has no records to show who attended that party, or how much it cost.

Obama’s relationship with Rezko dates to 1990, when Obama, then a Harvard law student, interviewed for a job with Rezko’s development company, Rezmar Corp. Obama turned down the job, instead going to work for a small Chicago law firm — Davis Miner Barnhill. That firm did work on more than a dozen low-income housing projects Rezmar rehabbed with government funds.

Eleven Rezmar buildings were in the state Senate district Obama represented between 1996 and 2004. Many of the buildings ended up in foreclosure, with tenants living in squalid conditions, the Sun-Times reported last year. In one instance, Rezko’s company left tenants without heat for five weeks. Obama said he was unaware of problems with the buildings and minimized the legal work he’d done.

Obama’s relationship with Rezko grew closer in June 2005, when Obama and Rezko’s wife bought adjoining real estate parcels from a doctor in the South Side Kenwood neighborhood. Obama paid $1.65 million for the doctor’s mansion, while Rezko’s wife paid $625,000 for the vacant lot next door. Obama’s purchase price was $300,000 below the asking price; Rezko’s wife paid full price.

Six months later, Obama paid Rita Rezko $104,500 for one-sixth of the vacant lot, which he bought to expand his yard. In November 2006, he expressed regret about the transaction.

“It was a mistake to have been engaged with him at all in this or any other personal business dealing that would allow him, or anyone else,” Obama said, “to believe that he had done me a favor.”

"