Obama & convicted felon partner Rezko-an example of the cause economic problems!!!

Discussion in 'Politics' started by healthmyths, Nov 23, 2011.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    Obama's real estate transactions in Chicago are a microcosm of how unscrupulous, lying "borrowers" took advantage of lenders which in turn created "toxic" assets that HAD TO be paid off by OUR tax dollars.. (someone say Fannie/Freddie"?)


    (Another big Woods Fund recipient while they served was the Association of Community Organizations for Reform Now, “ACORN”, a major Obama campaign get-out-the-vote machine.)

    Campaign records show that Davis and Rezko along with three other prominent developers contributed more than $175,000 to Obama’s campaigns over a decade and raised hundreds of thousands more from other donors. Rezko alone, now a convicted federal felon, contributed at least $200,000.

    This was made possible by a $1 million investment provided by the Woods Fund while Obama and Bill Ayres were on the board.

    As Obama’s career ascended, Rezko became one of his biggest fund raisers, and in 2005 his wife, Rita, helped the Obama family buy a house that was well beyond their financial means.

    When Obama bought the house in Chicago’s Kingwood neighborhood for $1.65 million, Rita purchased adjoining land for $625,000 that the owner of both properties insisted on selling at the same time.
    Seven months later she sold Obama one-sixth of her lot for $105,000
    so that they could expand their yard…rendering the remaining land undesirable for other development.

    (MY NOTE: WHAT A FRIEND WE HAVE IN REZKOS!!!)


    Real estate and commercial credit analyst Kenneth J. Connor who worked for the Mutual Bank Corp. performed a legitimate assessment of the house and connected land values. The bank later had someone else raise the value of the land and lower the value of the house.

    After Connor complained that this looked like a bribe he was fired.
    Connor then filed a legal complaint in the Cook County Circuit Court.
    The law suit status is still open.

    Obama Kick-Back Cronyism, Part 1: Stimulating Green Energy the Chicago Way - Forbes
     
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Rezko paid the Obamas a $106,000 bribe, but it was land instead of bag of cash, so it's not a big deal
     

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