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Morning Rezko Reading
February 19, 2008 11:00 AM
The Chicago Tribune weighs in today with a deeper look at the controversial land deal Barack Obama entered into with since-indicted political fixer Tony Rezko.
Turns out before Obama bought the mansion (Rezko helped him by buying half the land), Obama took Rezko "on a tour of the premises to make sure it was a good deal, Obama's campaign revealed Monday. Weeks after saying he'd answered all questions about his controversial dealings with the now-indicted Rezko, Obama released new details about their purchase of adjacent lots from the same seller on the same day. But the disclosures by Obama's presidential campaign left unanswered questions and raised new ones."
Recall that Obama bought the house for $300,000 UNDER the listed asking price while at the same time Rezko bought the adjacent property for the full asking price -- $625,000 -- under Mrs. Rezko's name.
Bloomberg News' Tim Burger also takes a look at this today.
Burger's take is a bit different, noting that the "couple who sold Barack Obama his Chicago home said the Illinois senator's $1.65 million bid 'was the best offer' and they didn't cut their asking price because a campaign donor bought their adjacent land, according to e-mails between Obama's presidential campaign and the seller."
- jpt
February 19, 2008 | Permalink | Share | User Comments (51)
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is it true that Rezco owned the house next to the vacant lot next to Obama's house? That he bought the lot and sold off a piece of it (at a nice profit) in order to increase the privacy, yard space and value of his own home?
Posted by: Paul Randall | Mar 7, 2008 3:46:17 AM
Sources close to the case say Obama is the "unknown political candidate" named in the Rezko indictment.
Obama takes time off from campaigning to return to Chicago to spend Valentines Day with his wife and kids?? Give me a break. How much do you want to bet he HAD to return to Chicago for another reason? Deposition anyone?
Posted by: Baggem | Feb 22, 2008 10:21:46 AM
This stuff needs to be put on the evening news. If you do not think this is important, then I've got some beachfront property to sell you in Oklahoma!!!! Wake-up people!!! What is it going to take for you to see that he is not all he appears to be. Some of you are being very naive or deliberately putting your heads in the sand. I do not want to see this man elected and then see what happens. This is our country, and it needs help right now. We do not need inexperience, especially someone who accidently pressed the wrong button six times and voted the wrong way? I hate to think of that inexperience in the Oval Office costing us dearly.
Posted by: Anne Marie | Feb 20, 2008 11:23:34 PM
Will the media please research all of the information about Obama,his money,Rezko etc. Why is there a cover-up on this. Because he is black o because the someone doesn't want Hilary elected. ??????
Posted by: beth | Feb 20, 2008 10:20:51 PM
sure, obama made mistakes with this guy. he's corrupt and flawed like any other candidate. it's 2008 and we live in the US. they're all corrupt.
dig a little bit on any of the 3 right now and there's plenty.
Posted by: joe b | Feb 20, 2008 5:24:48 PM
why is obama's campaign not releasing the entire text of the seller's e-mail??it seems like the obama campaign is trying to do some damage-control by releasing just a bit of information in hopes of satiating curiousity on the matter. it's not working - it's raising more questions.
Posted by: jose | Feb 20, 2008 2:51:44 PM
no, Tom.
Trying to show that turn-about is fair play in politics.... you Obamanations
have been outrageously unfair and small minded an downright slanderous towards Hillary.
now it's time for Barack to take his turn in front of the dump shovel; it'll prepare him for the Republican onslaught.....
Posted by: questioner | Feb 20, 2008 12:51:19 AM
February 19, 2008 11:00 AM
"The Chicago Tribune weighs in today with a deeper look at the controversial land deal Barack Obama entered into with since-indicted political fixer Tony Rezko.
Turns out before Obama bought the mansion (Rezko helped him by buying half the land), Obama took Rezko "on a tour of the premises to make sure it was a good deal, Obama's campaign revealed Monday. Weeks after saying he'd answered all questions about his controversial dealings with the now-indicted Rezko, Obama released new details about their purchase of adjacent lots from the same seller on the same day. But the disclosures by Obama's presidential campaign left unanswered questions and raised new ones."
Recall that Obama bought the house for $300,000 UNDER the listed asking price while at the same time Rezko bought the adjacent property for the full asking price -- $625,000 -- under Mrs. Rezko's name."
hmmmmmmm.....
Posted by: questioner | Feb 20, 2008 12:45:02 AM
Rezko was either a father figure to the abandoned child inside Obama, or Rezko was an object of contempt to Obama who used him like an ATM machine whenever Obama needed money for his campaign or a luxurious home. Buying the "lot," which was really the yard to Obama's house was at the least a "gift in kind" even if the discount on Obama's house is not considered. Obama could not afford the house if Rezko had not bought the "lot."
"Every politician in Illinois—except for Obama—figured Rezko to be leprous with federal subpoenas. By dancing with Rezko, Obama impeaches his own judgment, and raises questions as to whether he has the presidential stuff." - John Kass, chicagotribune.com. February 10, 2008.
Posted by: vee | Feb 20, 2008 12:27:19 AM
This is not the end of this. He's dirty. It will come out.
Posted by: doyenne49 | Feb 19, 2008 10:57:21 PM
Can someone shed light on the disposition of the lot purchased by Reszko which he then subdivided and sold a portion of to Obama to create a larger yard. Does it meet zoning rules that would permit someone to build a house on it?
Posted by: Mass voter | Feb 19, 2008 9:27:28 PM
Having worked in Chicago/IL politics, I've run across Tony Rezko. He doesn't just give contributions. He gives contributions, and then does anything he can to cozy up to the candidates he supports, e.g. phoning alot (even multiple times a day), discussing strategy & politics, setting up rallies and walk teams and phone banks, and in general just being a go-to political guy. This "walk through" makes the Rezko-Obama relationship make a lot more sense to me, and it's one of those things that, unless you can really remember every little detail, there's always going to be more there to come out.
Posted by: Martin | Feb 19, 2008 7:50:15 PM
The next question needs to be: Was the Obama's offer the best they received on just the house, or was it the best they received on the combined house and adjacent property *because* the Rezko's stepped into the deal? Sounds to me like the latter. That would mean Tony and his wife facilitated the purchase. Nothing else makes sense, given that they then sold a slice to the Obama's and sold off the rest promptly.
Posted by: samantha reidel | Feb 19, 2008 3:44:11 PM
All of you do me a favor, google Obama, Rezmar, Iraq contract
Posted by: Ali | Feb 19, 2008 3:03:42 PM
But I thought Obama spent only 5 hours of legal work for a church that was in business with Rezko. If he in fact took Rezko "on a tour of the premises to make sure it was a good deal" seems to me their relationship was more than just business as usual. First the flop of using someone else's words on his speeches, then changing his mind about campaign funds and now this. Stitches are starting to show...
"You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time." Abraham Lincoln.
Posted by: Tony | Feb 19, 2008 2:53:57 PM
I don't have a dog in this Hillary/Obama fight, but it certainly is an interesting one.
One of the facts that came out of the news reports on the real estate deal was this: Both the lot and the house were required by the seller to close simultaneously.
This shows irrefutably that the two buyers were linked. The seller did not want to sell Obama the house at a steep discount unless he was certain that Rezko would not renege on his full price offer. This strongly implies that Rezko was doing a favor to Obama, and the seller realized that. What other reason could the seller possibly have to require simultaneous closure?
These kinds of linked deals are not inherently illegal. Usually the full price buyer is a parent helping their kid buy a house at an affordable price. I've even seen a parent overpay on one house in exchange for the seller dropping the price on another so that their son or daughter can buy the discounted property.
When the discounted buyer is a politician, however, it certainly moves the burden of proof onto the politician to prove it isn't a payoff. Has Obama met that burden? Doesn't seem like it to me.
But of course he's running against the Queen of Sleeze, so maybe ethics doesn't enter into it.
Posted by: DaMav | Feb 19, 2008 2:43:29 PM
Living in Chicago, I've read every scrap published on this by the Trib and Sun-Times. I have yet to read anything shocking.
The sellers wanted their privacy, and it's clear that everyone directly involved has tried to respect that. Why should they have their financial details dragged into public? All they did was sell their house. But it's also clear that facts don't matter to the posters here, and posters elsewhere - they're hoping to twist everything into some conspiracy or fraud or scandal.
It's a sad commentary on people so paranoid they can't accept the simple truth that a family bought a house with the proceeds of two book deals. Instead of being happy for them, you attack. It's like some witch hunt.
What exactly are you trying to prove? That you can drive ANYONE out of politics? That's it, isn't it?
Posted by: Tom J | Feb 19, 2008 2:17:44 PM
Self confessed druggie – marijuana, cocaine, etc, etc.
Self confessed cigarette smoker
Self confessed unorganized politician
Self confessed “boneheaded” real estate transaction with indicted slumlord
Self confessed liar about everything being out about aforementioned real estate transaction
Self confessed plagiarism in stump speeches
Self confessed neophyte in the world of ruff and tumble politics
Self confessed voter of “Present” over 130 times
Is this the profile of a cult leader? Nope, just a candidate for President of the United States
Anything else you want to confess to Barak before you get vetted by Karl Rove and the GOP vetting machine?
Posted by: Jerry in Ohio | Feb 19, 2008 2:16:40 PM
But I thought Obama only did 5 hours of work at his law form for a Rezko connected case?? He must have spent as much time with Rezko at this house tour. This will be a much bigger issue during the general as Rezko is on trial.
Posted by: Eric | Feb 19, 2008 1:59:30 PM
Two debates ago, Obama maintained that he only did 5 hours of legal work for a church that was in business with Rezko. Has the media gone back and confirm that assertion? For a guy who had business dealings with for over 17 years, you only had 5 hours of work with him indirectly?
Democrats will lose this election big in the fall if they nominate Obama, because you know, it won't take much for the Republicans to swiftboat him to oblivion.
Wake up Democrats! Wake up!
There is still time to salvage this election. Don't blow it.
Posted by: SAMO | Feb 19, 2008 1:52:11 PM
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