Obamas Association With Rezko.

-Obama became associated with Rezko in the 1990's when Rezco Offered Obama A Job of which was declined.

-2003 Rezco hosted a fundraser at his home for Obama. Rezko and his associates have donated at least $168,000 to Obama’s campaigns, three times more than what Obama has acknowledged.

-11 Rezko buildings were located in Obama’s district during the years when he was an Illinois state senator (1997-2004).

- 1997 after the city of Chicago sued, eventually collecting a $100 fi ne from Rezmar. At about the same time—January 14, 1997, according to public records—state senator-elect Obama received a $1,000 campaign donation from Rezmar.

- Obama now admits that becoming involved with Rezko when he purchased a new home in January 2005 following his election to the U.S. Senate the previous November was a “bone-headed mistake.” The terms of that involvement have received widespread publicity: Senatorelect Obama and Rezko toured the property together when it was already known that Rezko was under criminal investigation. Obama and his wife Michelle subsequently paid the seller $1.65 million for their new home, $300,000 below the asking price. On the same day Mrs. Rita Rezko paid the same seller the asking price of $625,000 for the adjoining 9,000-square-foot lot. In January 2006, Mrs. Rezko sold a 10 foot-by-150 foot strip of the lot to the Obamas for $104,500, and in December she sold the remainder of the property to her husband’s lawyer for $575,000.

- Obamas Law Firm Represented Rezko in many of his lawsuits!


A History Of Tony Rezko


The Chicago winter of 1996-1997 was
a bad one, especially for residents of
the Englewood apartment building at
7000-10 South Sangamon. The 31-unit building
had been rehabilitated with a $653,500
loan from the city of Chicago’s low-income
housing fund, another $654,000 in bank fi -
nancing, and $1.9 million in tax credits. The
general partner on the project was Rezmar
Corporation, run by Antoin (“Tony”) Rezko
and Daniel Mahru. But the tenants shivered
for over five weeks without heat because
Rezko and Mahru claimed they lacked the
cash to turn the heat back on again.
Rezko was a successful real estate investor
who owned fast-food restaurants in
Chicago’s inner-city neighborhoods. But he
branched out into politics in the early 1980s
when he met Jabir Herbert Muhammad,
the former manager of retired heavyweight
champion Muhammad Ali and son of Nation
of Islam founder Elijah Muhammad.
Jabir Muhammad asked Rezko to donate to
mayoral candidate Harold Washington, an
African-American challenging Chicago’s
white establishment. After Washington was
elected mayor, Rezko, an Arab Christian who
emigrated from Syria to Chicago in 1971, became
increasingly involved in causes linking
his business interests to the political clout of
Chicago’s black community. For several years
he was even chairman of the Muhammad Ali
Foundation, an Islamic charity founded in
1975 that in 1985 changed its name from
the Elijah Muhammad Foundation when
the champ lent it his name. Rezko was also
the actual owner of fast-food franchises that
Jabir Mohammed told city offi cials were his.
According to the Chicago Tribune (March
16, 2005), in the late 1990s Jabir Mohammed
was the front man who allowed Rezko
to secure city contracts using Chicago’s
minority set-aside program.Harold Washington died in 1987 and in
1989, the year Richard M. Daley was elected
to the fi rst of six (so far) terms as mayor of
Chicago, Rezko and Mahru formed Rezmar
Corp., promising to build more low-income
housing in Chicago. Rezmar became the
Daley administration’s favored low-income
housing developer. Rezko’s timing was good:
During these years many neighborhoods on
the South Side were undergoing gentrifi cation,
and the prospect of rising real estate
values attracted a flock of developers with
wallets open to make whatever campaign
contributions might be necessary in order
to get business done.
The South Sangamon building was one of
30 low-income projects—containing a total
of 1,025 apartments—that Rezko took on
between 1989 and 1998. In all, Rezmar Corp.
collected more than $100 million by arranging
“public-private partnerships” with the
city, the state and federal governments, and
in bank loans to rehab South Side buildings
intended as low-income housing. Neither
Rezko nor his partner had any construction
experience when they created Rezmar, but
they became experts at working Chicago’s
political system to acquire taxpayer subsidies
for their redevelopment schemes. Rezko and Mahru also managed the
buildings. Not surprisingly, every one of the
projects ran into financial diffi culties within
six years, according to a Chicago Sun-Times
investigation, and more than half went into
foreclosure. Chicago sued Rezmar on at least
a dozen occasions. “Their buildings were
falling apart,” a former city offi cial told the
Sun-Times. “They just didn’t pay attention
to the condition of these buildings.”
To arrange project fi nancing Rezko frequently
relied on a small Chicago law firm,
Davis Miner Branhill & Galland, whose top
partner, Allison S. Davis, was a Rezko associate
and Daley administration insider.
Davis’s name recently surfaced in
Rezko’s trial for money-laundering, fraud,
bribery, and extortion. Witnesses say he was
the go-between in one of the alleged crimes:
an attempted pay-to-play shakedown of
Chicago businessman Tom Rosenberg whose
firm managed $1 billion for the Illinois Teachers
Retirement Association, a $40 billion
pension fund. In early 2004 Davis allegedly
approached Rezko about how to secure an
additional $220 million pension allocation
for Rosenberg’s asset management fi rm and
was told that Rosenberg needed to pay Rezko
a $2 million kick-back or raise $1.5 million
for the re-election campaign of Illinois Governor
Rod Blagojevich, a Democrat. At press
time, the trial, which ended on May 5, had
gone to the jury for deliberation. Rezko did
not testify and made no defense, his lawyers
arguing that the prosecution failed to meet
its burden of proof.

Yeah


567890

__________________
McCain/Palin 2008
"We make war that we may live in peace"
"Peace is the highest aspiration of the American People. We will negotiate for it, sacrifice for it, we will never surrender for it, now or ever."
"Keep that faith,keep your courage,stick together, stay strong,do not yield,do not flinch,stand up,we're Americans,we'll never surrender they will"
http://members.cox.net/neddy/bobhope_kerfuffles.wmv
http://youtube.com/watch?v=RnfflRNpwKA
http://youtube.com/watch?v=j-QYIP7o2-A

If you copy and paste large sections of text, it's poor form not to provide a link.

Ashamed of the source?

let's see what we have
Obama buys a house for under the listing price ... that never happens
buys 1500 square feet buffer from a 9000 square foot tract; that's 1/6 of the vacant lot. you tell us the buyer bought that lot for $625000 and immediately sold the 1500 sf portion to Obama for $104500 (1/6 the purchase price, 16.7%), and the other 5/6 (83.3%) of the lot is immediately re-sold for $575,000 (92% of the acquisition price).
so mrs rezko makes $575,000 + $104,500 - $625,000 = $54500 by flipping the property she just bought
less the $1000 campaign contribution to Obama mrs. rezko still makes out like a bandit

so i see your point. by engaging in that transaction Obama allowed mrs. rezko to make a healthy profit

or were you trying to make another point, because what happened there happens all day, every day

__________________
“Mayor Palin fails to have a firm grasp of something very simple: the truth.”

[Frontiersman editorial, 2/7/97]

Sorry. good looking out!

http://www.capitalresearch.org/pubs/pdf/v1212187691.pdf