Did The "old guy" McCain just "play" Obama like a fiddle?

Here is what I have been able to find out just digging around: From an AP article:

His staff said Friday evening that Rezko raised about $160,000 for Obama's successful run for U.S. Senate in 2004 and $60,000 to $90,000 for his state Senate campaigns and a failed bid for Congress in 2000.

Previously, his presidential campaign said Rezko was connected to about $150,000, all of which was later donated to charity.

"We reviewed our records for any contributions we believe could reasonably be credited to Mr. Rezko's political support and that is the generous estimate we concluded upon," spokesman Ben LaBolt said in an e-mail.

So there is no doubt that Obama had some sort of relationship with Rezko. Some other interesting stuff.

Starting in 2003, Rezko was one of the people on Obama's U.S. Senate campaign finance committee, which raised more than $14 million. Rezko threw an early fundraiser for Obama, which Chicago Tribune reporter David Mendelland claims was instrumental in providing Obama with seed money for his U.S. Senate race.

In June 2007, the Sun-Times published a story about letters Obama had written in 1997 to city and state officials in support of a low-income senior citizen development project headed by Rezko and partner Allison Davis. The project received more than $14 million in taxpayer funds, including $885,000 in development fees for Rezko and Davis. Of Obama's letters in support of the Cottage View Terrace apartments development, Obama spokesman Bill Burton said, "This wasn't done as a favor for anyone, it was done in the interests of the people in the community who have benefited from the project. I don't know that anyone specifically asked him to write this letter nine years ago. There was a consensus in the community about the positive impact the project would make and Obama supported it because it was going to help people in his district." Rezko's attorney responded that "Mr. Rezko never spoke with, nor sought a letter from, Senator Obama in connection with that project

Rezko was charged and convicted of 16 counts of "influence peddling". I wonder since the "media Honeymoon" might be over with Obama if reporters will start really investigating all this?

Well Joules here the info i came up with, I think one could draw a different conclusion, Rezko bought the lot it the same day as Obama and Obama paid him 60,000 MORE than the assessed value for the "strip" of land he bought from Rezko. I think thats a little unusal to pay MORE that the assesed value from a guy that raised money for your campaign.

In 2005 Obama purchased a new home in the Kenwood District of Chicago for $1.65 million ($300,000 below the original price) on the same day that Rezko's wife, Rita Rezko, purchased the adjoining empty lot from the same sellers for the full asking price. Obama acknowledged bringing his interest in the property to Rezko's attention, but denied any coordination of offers. According to Obama, while the properties had originally been a single property, the previous owners decided to sell the land as two separate lots, but made it a condition of the sales that they be closed on the same date. Obama also claimed that the properties had been on the market for months, that his offer was the best of two bids, and that Ms. Rezko's bid was matched by another offer, also of $625,000, so that she could not have purchased the property for less. Obama's description of the purchase was later confirmed by the previous owner of the house.

After it had been reported in 2006 that Rezko was under federal investigation for influence-peddling, Obama purchased a 10 foot (3.0 m) wide strip of Ms. Rezko's property for $104,500, $60,000 above the assessed value. According to Chicago Sun-Times columnist, Mark Brown, "Rezko definitely did Obama a favor by selling him the 10-foot strip of land, making his own parcel less attractive for development." Obama acknowledges that the exchange may have created the appearance of impropriety, and stated "I consider this a mistake on my part and I regret it."

On December 28, 2006, Ms. Rezko sold the property to a company owned by her husband's former business attorney. That sale of $575,000, combined with the earlier $104,500 sale to the Obamas, amounted to a net profit of $54,500 over her original purchase, less $14,000 for a fence along the property line and other expenses. In October 2007, the new owners put the still vacant land up for sale again, this time for $1.5 million

In a buyer's market (after the housing bubble began to burst), it would not be uncommon for someone to sell a house at a substantially lower value than what market was, especially taking two things into account: 1. over-inflated/appraised value and 2. Over-under on the mortgage.....if the seller had to dump and run to avoid foreclosure....those are two very realistic possibilities.

Maybe, but it didnt look like the market had tanked in Chicago back then , if anything it was pretty strong in that price range. Obama's offer was one of two made so I presume they made the highest offer? But the "coincidence" that Rezko bought the lot is just to Unusual to me.

First, thanks for your overly sarcastic and cutting reply to my little post.

Don't mind Joules he is just one of the many Obama supporter seeing the world through those rose colored glasses Obama passes out.

I hear that Demand has falled as of late! The rose colored glass factory might have to lay some people off soon!

Some people just have no sense of humor!

Sorry I'm just a politcal junkie,like everybody else here. I did write for a paper back in college. IjustI happen to be a lifelong Moderate Democrats whose just really FED UP with the direction my party has taken this year. Just one of the Millions of fed up Moderate Democrats!

Tyler

Like everyone else, I am waiting to see who the VP pick will be, I have always voted democratic. Given the list of VP choices Obama has , if Clinton is not the VP pick I am afraid I'd have to vote for McCain. At least if she is there I know Obama will try to stay honest, because lets face it, he knows she's watching him, because if he did anything wrong and got impeached, she is there to take over,

Clinton , in my opinion, is a "safety valve". Obama with someone like Bayh or Biden will pretty much do what he wants and I cant afford to have my taxes go up that much.

Frankly I trust Obama about as much as Nixon, dont know why? It's just a 'gut' feeling.

I would have agreed with you except McCain had all this data ready, the ad and everything!

ABC reported :http://blogs.abcnews.com/politicalradar/2008/08/mccain-plans-ad.html

Highlights:

"If you want to talk about a housing problem," McCain spokesman Brian Rogers tells ABC News, "Sen. Obama certainly has one when he bought his million dollar mansion with the help of a convicted felon."

"That's a house that he could not have bought without Mr. Rezko's actions," said Rogers. "It raises questions about his judgment. And you know it is an issue that we think the American people care far more about than how many houses or properties or dog houses that John and Cindy McCain have."

The McCain campaign is not disclosing how much money it is planning to put behind its Rezko ad but vows that it will air on broadcast television in "key states."

Script For "Housing Problem" (TV :30)

ANNCR: Barack Obama knows a lot about housing problems.

One of his "biggest fundraisers" helped him buy his million-dollar mansion.

Purchasing part of the property he couldn't afford.

From Obama, Rezko got "political favors" including "14 million from taxpayers."

Now, he's a convicted felon, facing jail.

That's a housing problem.

JOHN MCCAIN: I'm John McCain and I approved this message.

I agree but I think they took a calculated risk. With the convention coming I expect every Republican 527 to be running negative ads.

I would guess their goal is to keep Obama from getting any "convention bounce" in the polls, I would imagine the same tactic during the Republican convention by Obama.

I think this will be the messiest next 3 months in history! There wont be any lack of stuff for us all to discuss!

Pretty sad huh? They poke at each other while I have a hard time paying bills and worry about job security.

You dont think either candidate want's to talk about issues do you, something eth voters actually cared about? In an election year? The LAST thing either side wants to talk about is issues.

We have two weak candidates.

Next will be "who'se car gets the best gas mileage" or I own fewer cars than you so I am more in touch.

I am agreeing with you Tyler

McCain's flub is going to turn out to be Obama's undoing. Barry should have stayed quiet...now they are all talking about REZKO... which will lead to ACORN... which will finally uncover what a Chicago political hack Obama IS and HAS ALWAYS been

Obama "had" sucessfully dodged the whole Dirty Chicago Politician tag, so far, but I had to wonder about how much lobger he can avoid it.

Having bought and sold more than a few houses in my day, I know from experience what buying houses is like. It was not 'coincidental" that Rezko who raised 250K for Obama, "just happened" to buy the lot next door to the home Obama wanted. Obama saved 300K because the seller got full price on that Lot. Had Rezko, conveniently" not come along, Obam would have had to pay close to full price,and probably at the time couldnt have afforded it..

Since Rezko was a developer you wouldn't want to make your lot "less buildable" by selling off "part" of it. To do that would definitely be a "big favor" , the question is did Obama do a "big favor" to the Rezkos by paying way more that a 10 foot strip of land was worth?

You don't have to be a "rocket scientist' to figure that one out.