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Posted on 08/22/2012 7:28:10 AM PDT by Servant of the Cross
White House senior adviser Valerie Jarrett’s real-estate investment jumped in value between 2010 and 2011, documents show
Senior White House adviser and long-time Obama confidant Valerie Jarrett’s role in a number of controversial Chicago housing developments has garnered her investments worth millions of dollars while highlighting the administration’s extensive business ties to presidential donors.
Before joining the Obama administration in 2009, Jarrett was president and chief executive officer of the Habitat Company, a real estate development firm founded by major Democratic donor Daniel Levin. Before that, she served three years as commissioner of the Chicago Department of Planning and Development under Mayor Richard Daley.
Jarrett currently owns an 11-percent equity interest in Kingsbury Plaza, a 46-story luxury apartment complex developed by Habitat between 2005 and 2007 at a cost of more than $100 million.
She valued the investment at between $1 million and $5 million on her 2011 financial disclosure form, up from $250,001 in 2010. A Jarrett spokesman told the Washington Times that the investment was “a direct result of her 13 years working for Habitat.”
(Excerpt) Read more at freebeacon.com ...
Rather than the definition of "legitimate rape"?!
Thank you, Clod Akin, may we have another?
Corrupt real estate deals are the bread and butter of Chicago style politics. How do you think Obama got his million dollar home in a posh Chicago neighborhood?
Congratulations seem to be in order. Looks like you are in line for this year's short list for crafty manipulation of the public treasury to line your pockets. Thieves everywhere are truly envious of your skill.
Regards,
Concerned Taxpayer
A Chicago woman close to a democratic president made a killing in shady real estate deals? Why, it’s like deja vu all over again!
This is why Obama went to the IOC.
“A Jarrett spokesman told the Washington Times that the investment was ‘a direct result of her 13 years working for Habitat.’”
You didn’t build that!
Great point. FR keyword search: Rezko
Can we see her tax returns for the past 10 years?
No wonder the taxpayers of Illinois are bleeding....
We will see them in the same batch release as Pelosi and Reid’s.
Good one!
ping-list worthy? I think this thread is the first to be posted with this article.
Enriching themselves disguised has helping the poor is PAR FOR THE COURSE for the COMMIES the FOREIGNER hangs with. This would be the same principle of why the biggest turds in the toilet bowel float to the top.
“Enriching themselves disguised as helping the poor is PAR FOR THE COURSE for the COMMIES...”
isn’t it though...
Kind of like Fawlty Towers but without the competant staff.
Why they’re just your average every day middle class Chicago folks concerned about the poor as they continue their crusade against millionaires. Democrat voters sure are stupid and gullible.
===============================================
Fannie/Freddie are centerpieces of the criminal enterprise called the Democrat Party---where Dem cronies and collaborators loot the organization, get cushy jobs, bonuses, and the like. Fannie Mae’s political machine dispensed campaign contributions, gave jobs to friends and relatives of legislators, hired armies of lobbyists (even paying lobbyists not to lobby against it), paid academics who wrote papers validating the home ownership mania, and spread “charitable” contributions to housing advocates across the congressional map.
REFERENCE---BY MICHELLE MALKIN Fannie Mae serves as an industrial-sized patronage factory -- sharing profits with political allies, spreading taxpayer funds to voting blocs----like ethnic groups-----and doling out jobs to left-wing academics, Washington has-beens and back-scratching buddies. Obama insider Fannie Mae exec Jim Johnson got sweetheart loans from shady subprime Countrywide. Pols raked in six-figure salaries as F/F engaged in Enron-style accounting, plunged into debt and helped usher in the subprime housing meltdown through cockamamie lending practices.
Bill Clinton appointed Franklin Raines, Daley and Rahm Emanuel just as the quasi-governmental F/M engaged in rampant book-cooking so that F/M insider could help themselves to massive bonuses. The Chi/Tribune exposed how Emanuel's "profitable stint" was low-show w/ no work involved. Emanuel was not even assigned to committees, according to company proxy statements (more on Raines and Emanuel below).
Immediately upon joining the board, Emanuel and other insiders qualified for $380,000 in stock and options plus a $20,000 annual fee, public records indicate. W/ Wall Street Emanuel there, accounting tricks were used to mislead shareholders about outsize profits F/M reaped from risky investments. The goal was to cook the books to keep fraudulent earnings on the books, to make Freddie Mac look profitable on paper-----AND to fraudulently obtain humongous annual bonuses for political insiders.
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REFERENCE Cuomo's Social Engineering as HUD Chief Contributed to Subprime Crisis / originally published on Examiner.com
EXCERPT In 1993 President Bill Clinton appointed Andrew Cuomo to the Department of Housing and Urban Development (HUD) as Assistant Secretary. In 1997 Cuomo took over as HUD chief replacing Clinton appointee Henry Cisneros. During Cisneros tenure he championed Clinton's goal of social engineering within the housing market forcing lenders to issue loans to those that would not financially qualify for the lending.
Cisneros left office in a scandal involving lying to the FBI over payouts to a mistress, Cisneros subsequently pleaded guilty to a misdemeanor and though never sent to prison received a pardon from Bill Clinton in 2001.
Andrew Cuomo took the HUD reins and not only furthered Cisneros and Clinton's policies but greatly expanded them.
Henry Cisneros moved the GSEs toward a requirement that 42 percent of their mortgages serve low and moderate income families. Andrew Cuomo raised that number to 50 percent and dramatically hiked GSE mandates to buy mortgages for the "very-low-income."
These bad loans were purchased and sold throughout the secondary market and the pyramid grew and the bottom collapsed resulting in the subprime crisis we are still reeling from today.
In 2008, the Village Voice published a compelling report detailing Andrew Cuomo's policy decisions "that gave birth to the country's current crisis."
The report touched on how Cuomo's 187-page rules "opened the door to abuse." The rules explicitly rejected the idea of imposing any new reporting requirements on the GSEs. In other words, HUD wanted Fannie and Freddie to buy risky loans, but the department didn't want to hear just how risky they were.
Cuomo's top aide said, "We believe that there are a lot of loans to black Americans that could be safely purchased by Fannie Mae and Freddie Mac if these companies were more flexible." Andrew Cuomo doubled down and had this to say about his HUD standards, "GSE presence in the subprime market could be of significant benefit to lower-income families, minorities, and families living in underserved areas."
How's that working out for the minority community, where foreclosures and unemployment rates have hit the hardest as a result of such failed policies and blatant social engineering?
SOURCE http://voices.yahoo.com/cuomos-social-engineering-as-hud-chief-contributed- 7077218.html
kickback
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