Posted on 07/01/2008 10:41:27 PM PDT by Kleebo151
Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois. This Story
The freshman Democratic senator received a discount. He locked in an interest rate of 5.625 percent on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago. The loan was unusually large, known in banker lingo as a "super super jumbo." Obama paid no origination fee or discount points, as some consumers do to reduce their interest rates.
Compared with the average terms offered at the time in Chicago, Obama's rate could have saved him more than $300 per month
(Excerpt) Read more at washingtonpost.com ...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Blockbuster ...
Breaking news, ya think?
I’m sure McCain will blame the Republicans.
http://therealbarackobama.wordpress.com/2008/07/01/preliminary-notes-on-the-obama-mortgage/
...have you not yet learned that with the Obamas every question answered just leads to another hall of mirrors?
If this is true, it’s ripe with hypocrisy.
Obama canned Jim Johnson from the VP vetting process for this very reason.
“In sum, the piece notes that Jim Johnson, one of the three people Sen. Obama chose to help him select his vice presidential running mate, received below-market interest-rate mortgages from Countrywide Financial while he was the CEO of Fannie Mae, and did not disclose the sweetheart deals to Fannie’s board. This while he was pulling down $21 million in pay. Obama has called Countrywide’s CEO—who arranged the special loans for Johnson—one of the people responsible for the mortgage crisis.”
Should qualify, Obama is ripe with hypocrisy.
~~~DING, DING!
Nah. No story here. This will be on page D-57 of the NY Times...
He’s a Dem. He’s allowed. Different rules apply vs us little people.
BTTT!!!
Magic Bus.. do do do do...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
I’m really suprised Hillary didn’t bring this out in the primaries.
I thought everything was already out..
I seem to remember the Clintons even accusing Obama of doing and dealing drugs at one point.
A friend informs me that this amount to a $108,000 discount for Obama, throughout the life of the loan.
Is his math correct?
Abuse of power?
Alan Colmes will defend this as “Don’t all politicians do this?”
He says that every time. Newsflash Alan! That doesn’t make it right!!
There needs to be a windfall lack of profits tax on government teat suckers. Investigate Big Community organization, and big hospital diversity management. Social... nationalize, take them over and run their scams.
Maybe Barrack could claim racism if Hillary got an even better deal.
LOL...the media will be sure to cover this tomorrow...especially the hacks over at MSNBC...just like the Dodd story..it will go nowhere.
However, if this were McCain?!? LMAO. Well...you know how that would play out.
“They chose a house with six bedrooms, four fireplaces, a four-car garage and 5 1/2 baths, including a double steam shower and a marble powder room. It had a wine cellar, a music room, a library, a solarium, beveled glass doors and a granite-floored kitchen.”
How’s that carbon footprint?
Methinks so.
Commie bottom feeder PING
"This is not the ba-Rack Hussien Obama I knew before...."
So true...I can hear Colmes right now in my head saying “Hey...so and so..isn’t this really a non-issue and another way for Republicans to toss anything they can at Obama...with a weak opponent like McCain this is the best they got...don’t most politicians have some sort of deal like this in their past?”
I can hear it now.
The Demonrat Party = party of
Lawlessness
Privilege for the few
Corruption and graft
Death
Yet according to the “polls” - it is always 50% of voting Americans who support this TRASH.
Either these polls continue to be MADE UP by the Clintonista pollsters - or America is sicker than I really think she is...
<... a house with six bedrooms, four fireplaces, a four-car garage and 5 1/2 baths, including a double steam shower and a marble powder room. It had a wine cellar, a music room, a library, a solarium, beveled glass doors and a granite-floored kitchen...>
THIS is called “Plantation Envy”. (As per a book written by Collin Powell, describing his wife’s desire for a really big house.)
——Driving the recent debate is concern that public officials, knowingly or unknowingly, may receive special treatment from lenders and that the discounts could constitute gifts that are prohibited by law.——
Here’s the convenient out for Obama...”Hey, I didn’t know I was getting any special kind of deal. They told me this was the standard package.”
It’s hard out there for a pimp.
Jumbo loans are for amounts up to $650,000, but the Obamas' $1.32 million loan was so large that few comparables are available.
***********
Man .. the fix was in all thru ChiTown and IL politics, the Machine's networks and the glitterati ... this deal was set in stone before we ever heard of him. Hand picked chosen one.
I think you're right about. They sure couldn't have him living in a little townhouse, could they?
Who OWNS Borat Obama?...
I saw it on Foxnews today.
It was actually the Clinton’s campaign manager that said something early on in the primary.
I’ll look deeper to see if I can find it.
Especially that last part.
That is his standard answer to defend any political wrongdoings.
He says that EVERY NIGHT
****The Obama campaign called the rate “consistent with Northern Trust policies, and it reflected the base rate set for that period discounted to address the competition for the account and other opportunities, such as personal financial services, that the relationship would bring to Northern Trust.”****
I guess they have a more...shall we say...in your face explanation.
****Man .. the fix was in all thru ChiTown and IL politics, the Machine’s networks and the glitterati ... this deal was set in stone before we ever heard of him. Hand picked chosen one.****
****I think you’re right about. They sure couldn’t have him living in a little townhouse, could they?****
If it is true it sure shows a lot of hubris to assume that all of the media will fall in line to help anoint the next king. This article shows that it may be folly.
The broadcast nets and the papers will bury this until they absolutely have to do a story on it.
Can you imagine if Mccain did something like this???
lol!!!
Magic.. Monster Truck.. do do do..
Speaking of that, has Obama ever been seen hanging out with former D.C. Mayor Marion Barry? [;o)
Yep, another hypocrisy committed by the Messiah. (I think the word is actually “rife” by the way, but no matter.) Unfortunately this story will probably go nowhere. Rules and ethics don’t apply to him. He is the Chosen One.
What a disgusting vermin to occupy such a nice house.
Well since you mention it, they did get a class envy dig in on McCain and his “multimillionaire” wife Cindy for being so rich that they don’t have to have mortgages.
Correct. Nobody can’t tell me that the fix has been in for this dirt bag for quite some time now. He has been groomed for this moment.
Smokes it and likes male crack too.
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