PrintJuly 2, 2008
The Obamas' mortgage (cont.) (updated)
The Washington Post today reports on Barack and Michelle Obama's favorable mortgage terms obtained from Northern Trust in Chicago. The beneficial aspects of this mortage were first rpeorted in my article yesterday.
It is absurd for the Obama campaign to justify this beneficial by disclosing a large amount of funds that Northern Trust now holds for the Obamas when these amounts were earned and deposited substantially after the mortgage was placed and when their then current income and asstes did not justify such a "competitive rate".
Update -- Richard Henry lee writes:
There is no mention whatsoever of American Thinker in the article. Was it just a coincidence or an oversight? They mention, as we did, that the loan was better than average:
It is absurd for the Obama campaign to justify this beneficial by disclosing a large amount of funds that Northern Trust now holds for the Obamas when these amounts were earned and deposited substantially after the mortgage was placed and when their then current income and asstes did not justify such a "competitive rate".
Update -- Richard Henry lee writes:
There is no mention whatsoever of American Thinker in the article. Was it just a coincidence or an oversight? They mention, as we did, that the loan was better than average:
Compared with the average terms offered at the time in Chicago, Obama's rate could have saved him more than $300 per month.
They also quote a spokesman for Northern Trust who comments that they do not provide discounts to elected officials. The story failed to note that Michelle Obama friend, and former Rezko employee, Kelly King Dibble, is the Senior VP for Public Affairs there as we did. Just another oversight?
They do add the information that Northern Trust employees have donated $71,000 to Obama. The amount will surely grow since Obama has decided to forsake public funding of his General Election campaign in favor of getting large numbers of small donations from lots of regular people.
