December 18, 2006

The bloom is off the rose called Obama...

Photobucket - Video and Image HostingObama regrets land deal with a friend... now that said friend has been indicted. You know, this goes to the core of what I don't like about Obama. He doesn't OWN himself. Here's the skinny...

The WaPo has an article up (going for two pages no less) about a land deal involving Sen. Obama and an Illinois fundraiser and developer named Tony Rezko who has been indicted for influence peddling. The transaction? Apparently, Obama and Rezko's wife bought contiguous property in Chicago last year near UoC (Obama bought a large house, Mrs. Rezko bought the vacant lot next door). Obama then wanted to expand his yard, so he paid 1/6 of the price of the land for 1/6 of the land, more than double what an appraiser thought it was worth.

Does it look bad? If you think so, tell me why. Seriously. Other than the fact that this Rezko guy has been indicted for something UNRELATED to Sen. Obama, tell me what looks bad about this. I've heard of similar deals being struck in Hyde Park and Tarrytown. None of this is unusual in urban real estate. All of this occured BEFORE the indictment.

Which brings me to the point. This was a straight up deal. Sure, he overpaid for the land to a limited extent. The appraiser may have valued it at 40k+, but the reality is that Rezko might not have been willing to part with such a large chunk of the lot for that amount. In that case, the 100k Obama paid may have been a steal.

Which leaves me wondering what about all this Obama 'regrets'? Nothing illegal took place. Nothing even looks bad except to those with an overactive imagination (and mouths to match). Why not sac up and own this, Obama? And WaPo, I mean really... way to tie in a Democratic Senator with a bunch of bad, unrelated shit about Rezko. Nice work, Peter. Where were you in 1999 and 2000 when people were talking about some of Connecticut native George W. Bush's deals here in Texas?

Now that the first hit is in, and Obama caved, expect more to follow for the not-quite-ready-for-prime-time-Senator.

Posted by mcblogger at December 18, 2006 12:48 PM

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I'm starting to get nostalgic for the tough, unbending, in-your-face style of John Kerry.

Posted by: mayor mcsleaze at December 18, 2006 07:24 PM

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