"I don't recall exactly what our conversations were or where I first learned, and I am not clear what the circumstnces were where he made a decision that he was interested in the property," Obama reportedly said.
"I may have mentioned to him the name of [a developer and] he may at that point have contacted that person. I'm not clear about that," he said.
Sounds like Barack Baby's been spending time with the Clintons. He just can't recall or recollect or remember or anything.
Obama corrupt? Chicago?
No one saw that coming /sarc
Darn. I was enjoying a period of Obama free stories. You just had to ruin it.:(
Mere coincidence. Nothing to see here, move along!
My prediction is that Hillary Clinton has all the slimy details on these transactions, and will use them against Obama in the next year or two. Meanwhile, other Democratic hopefuls begin assembling their circular firing squad.
As best as I can figure this Rezco paid more for the land than it was worth and Obama paid less. Hence, the deal is a hidden payoff. Had the property been sold as a unit then Obama would have had to pay the whole but by undervaluing the house and overvaluing the land the deal subsidizes him surreptiously.
Assuming the lot sizes are the same the undeveloped land should be 1/3 of the total price of the developed as a rule of thumb. But Rezco has admitted paying more than the price of the lot while Obama paid less than the price of the home.
Congressman Luis Guiterezze (Terror supporter) had another sweet deal and only had to pay a fraction of his property taxes for years. Party of Treason member of course.
I realize this could be abused, but overall I don't see a problem with a legislator making money by writing a book. I would say that the concept of large advances should be limited, so that this can't be too much of a sweetheart deal with the publisher (and whatever other businesses the publisher owns); the legislator's income should be heavily dependent on how many copies of the book actually sell.
The article yesterday included an important fact: Obama purchased his portion of the property for hundreds of thousands of dollars less than the asking price; Rezko purchased his for more than a hundred thousand dollars more than the asking price. It looks to me like Rezko may have paid too much so that Obama could catch a break.
More than that, when Rezko sold his ten-foot-wide strip to Obama, it was appraised at about 28% of what Rezko paid for it.
I don't understand why this isn't in today's article, since it was in yesterday's article in the same newspaper.