Obama, Like Dodd and Conrad, Got Cheap Home Loan »

Posted By pc25 1 year ago in News

Presidential nominee Barack Obama joins the list of several other high-profile Democratic Party members who received highly favorable home loans. Obama, D-Ill., reportedly purchased a $1.65 million mansion in Chicago through a "super, super jumbo" loan he received from Northern Trust Bank in Illinois, the Washington Post reports.

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    pc251 year ago

    the Washington Post article

    http://www.washingtonpost.com/wp-dyn/content/st...

    and this should be consider newsworthy itself

    CBS and MSNBC actually engaging in the pursuit of reporting the news

    http://www.cbsnews.com/stories/2008/07/02/polit...

    http://www.msnbc.msn.com/id/25496822/

    maybe that tingle in Chris Matthews' leg will finally stop

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    jordan111 year ago

    There isn't a person in this country with significant deposits in a bank that aren't given favorable interest rates for any type of loan. This is a non issue.

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    pc251 year ago

    meanwhile his campaign is defending the loans this way

    FTA

    "For his part, Obama and his camp are defending the lower rate as lender competition for business."

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    icono11 year ago

    According to CNN and other MSM outlets OBama came to the bank with approx 3 million in assets which included 'an advance' on his book. So according to the logic of banking he got a 'slightly reduced rate' because of his 'apparent wealth' which saved him thousands of dollars in interest. I believe the 'price' of the property was approx 1.5 mil.

    However his political friend Rezko bought the lot next door to the OBama's for 'full price' then sold a portion of that lot to the OBama's.(Interest rate and price for the partial lot not mentioned)

    Interesting to note that the same type of deal was not given to Rezko that was given to OBama; the question is why, for Rezko is reputedly wealther than OBama.

    On the surface this appears to be 'money politics as usual' by the banking/lending institutions and possibly by the OBama's also.

    Currently this type of 'back scratching' is not at all that uncommon in American business/Politics.

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    pc251 year ago

    as slippery as this guy is we no longer have to drill for oil........we'll just blot it off of his skin, wring it out and then process it......should be enough to power this country for 10 years........WE HAVE JUST SOLVED AMERICA'S DEPENDENCE ON FOREIGN OIL........

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      CRYMTYPHON1 year ago

      I want to take this oportunity to explain why I was given an unfair economic advantage.

      I had this coupon for starbucks and it had gone through the laundry like 5 times and you couldn't even read it but I insisted to the poor clerk and everyone in the line back of me was complaining to hurry up so they gave me an expreso for a buck off.

      And Obama got a house loan at some kind of discount from banking friends, maybe too, which is not very fair either.

      And if you can't find anything better than this to throw at Obama the man is whistle clean*

      ________________________

      the kind of whistle without spit on them.

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      Wolfie20071 year ago

      Looks like the more things "change" the more they stay the same. Crooked Chicago politician, so what else is new?

      Good article,pc, thanks.

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      Hobe1 year ago

      Dodd and Conrad, are Corrupt Pigs....

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