The following is part of ongoing investigations by a number of organizations into the background of Democrat presidential candidate Senator Barack Hussein Obama. While Obama’s dealings with terrorists, criminals and anti-American miscreants are plentiful, the mainstream news media prefer to dig into Gov. Sarah Palin’s past or Cindy McCain’s miscarriages and painkiller use.
In A Complaint Filed In Cook County Circuit Court, A Bank Official Stated That An Appraisal Of The Property Rita Rezko Purchased Next To The Obamas Had Been Replaced With A Higher One:
Kenneth Conner, A Former Illinois Bank Official, Filed A Complaint Stating That Bank Officials Replaced A Loan Reappraisal Prepared By Conner For Property Purchased By Rita Rezko, Tony Rezko’s Wife, With A Higher One And That Conner Was Fired When He Questioned The Document.
“A former Illinois bank official, now claiming whistleblower status, says bank officials replaced a loan reappraisal that he prepared for a Chicago property that was purchased by the wife of now-convicted felon Tony Rezko, part of which was later sold to next-door neighbor Barack Obama. In a
complaint filed Thursday in the Circuit Court of Cookme County, Kenneth J. Connor said that his reappraisal of Rita Rezko’s property was replaced with a higher one and that he was fired when he questioned the document.” (Jerry Seper, “Complaint Hits Rezko Land Deal,” The Washington Times, 10/18/08)
— Conner Reviewed The Appraisal Of The Rezko Property, Which Set The
Value At $625,000, And Told His Bosses That The Property Had Been
Overvalued By At Least $125,000. “According to the complaint, Mr. Connor
reviewed the appraisal of the Rezko property by another firm, Adams
Appraisal, which had set the value at $625,000. Mr. Connor’s complaint said
that he told his bosses in a report that the property had been overvalued
by at least $125,000 and that a ‘reasonable and fair evaluation’ should
have been no greater than $500,000.” (Jerry Seper, “Complaint Hits Rezko
Land Deal,” The Washington Times, 10/18/08)
— Later, Conner Observed That His Lower Appraisal Was Not In The Rezko
File, Which Had Been Reviewed By The FBI. “Later, the complaint states, Mr.
Connor observed that his lower appraisal was not in the Rezko file and that
he notified his supervisors that it had been replaced. He said, according
to the complaint, the new file had been reviewed by the FBI and ‘if the FBI
were to ask me about such matters, I would tell them the truth. I never
rescinded my original findings.’” (Jerry Seper, “Complaint Hits Rezko Land
Deal,” The Washington Times, 10/18/08)
The Complaint Also Noted That The Bank Received A Grand Jury Subpoena
Requiring It To Produce Files Relating To Mrs. Rezko’s Purchase And
Finances. “Mr. Connor, a real estate and commercial credit analyst at the
Mutual Bank Corp. in Chicago, also noted in the complaint that the bank
received a grand jury subpoena in October 2006 requiring it to produce
information concerning Mrs. Rezko’s purchase, including the bank’s files on
the property. The complaint also said that the grand jury wanted
information on Mrs. Rezko’s checking account and loan file and that the
Federal Deposit Insurance Corp. (FDIC) had audited the Rezko file -
although Mr. Conner’s lower reappraisal had been replaced with a higher
amount.” (Jerry Seper, “Complaint Hits Rezko Land Deal,” The Washington
Times, 10/18/08)
WHAT WE KNOW
Obama Engaged In A “Boneheaded” Land Deal With Rezko:
Obama Paid $300,000 Less Than The Asking Price For His Chicago Mansion,
While Rezko’s Wife Paid Full Price For A Vacant Lot Next Door On The Very
Same Day.
“Two years ago, Obama bought a mansion on the South Side, in the
Kenwood neighborhood, from a doctor. On the same day, Rezko’s wife, Rita
Rezko, bought the vacant lot next door from the same seller. The doctor had
listed the properties for sale together. He sold the house to Obama for
$300,000 below the asking price. The doctor got his asking price on the lot
from Rezko’s wife.”(Tim Novak, “Obama And His Rezko Ties,” Chicago
Sun-Times, 4/23/07)
— The Seller Of Obama’s Home “Wanted To Sell Both Properties At The
Same Time.” “On the same day Obama closed on his house, Rezko’s wife bought
the adjacent empty lot, meeting the condition of the seller who wanted to
sell both properties at the same time.” (Brian Ross and Rhonda Schwartz,
“The Rezko Connection,” ABC News’ “The Blotter” Blog, abcnews.go.com,
1/10/08)
— But Obama Could Not Afford To Purchase The Parcel Of Land Rezko’s
Wife Purchased. “The parcel included an adjacent lot which Obama told the
Chicago Tribune he could not afford because ‘it was already a stretch to
buy the house.’” (Brian Ross and Rhonda Schwartz, “The Rezko Connection,”
ABC News’ “The Blotter” Blog, abcnews.go.com, 1/10/08)
Obama Originally Downplayed His Interactions With Rezko Prior To The
Purchase, But Later Admitted He Also Walked The Property With Rezko Before
Purchasing It. “When the transactions were first reported, Mr. Obama said
only that he had asked Mr. Rezko, as a developer, whether he thought the
house was worth buying. But last month, Mr. Obama’s campaign staff said the
senator also recalled walking around the house and the adjacent lot with
Mr. Rezko.” (Mike McIntire and Christopher Drew, “As Developer Heads To
Trial, Questions Linger Over A Deal With Obama,” The New York Times,
3/2/08)
“Then – A Few Months Before Rezko Was Indicted – Obama Bought Part Of
That Lot From Rezko’s Wife.”(Tim Novak, “Obama And His Rezko Ties,” Chicago
Sun- Times, 4/23/07)
— Though The Strip Purchased By Obama Was Valued At $40,500, He Paid
$104,500 For It. “Later, the Obamas bought a 10-foot-by-150-foot piece of
the lot for $104,500. An appraisal put the value of the strip at $40,500, a
spokesman said, but Obama considered it fair to pay one-sixth of the
original price for one-sixth of the lot. ‘It wasn’t something we needed to
have,’ Obama said. ‘It was something I thought would be nice, if it worked
economically for him.’” (Peter Slevin, “Obama Says He Regrets Land Deal
With Fundraiser,” The Washington Post, 12/17/06)
At The Time Of Obama’s Purchase, Rezko Was Also Under Investigation For
Influence-Peddling In Gov. Blagojevich’s Administration. “At the time Obama
bought that strip of land, it had been reported that Rezko was under
federal investigation for influence-peddling involving the administration
of Blagojevich, whose campaign also received Rezko’s financial support.
Rezko has since been indicted for allegedly demanding kickbacks from
companies seeking state business under Blagojevich.” (Tim Novak, “Obama And
His Rezko Ties,” Chicago Sun-Times, 4/23/07)
— “When The Property Was Sold, Mr. Obama Knew Rezko Was Under
Investigation On Fraud Charges.” (Jerry Seper, “Complaint hits Rezko land
deal,” The Washington Times, 10/18/08)
Obama Called His Purchase Of The Land “A Boneheaded Move” Because Rezko
“Was Already Under A Cloud Of Concern.” “‘I am the first one to acknowledge
that it was a boneheaded move for me to purchase this 10-foot strip from
Rezko, given that he was already under a cloud of concern,’ Obama said. ‘I
will also acknowledge that from his perspective, he no doubt believed that
by buying the piece of property next to me that he would, if not be doing
me a favor, it would help strengthen our relationship.’” (Rick Pearson,
“Obama Believes Himself A ‘Viable Candidate’ For Presidency,” Chicago
Tribune, 12/14/06)
Obama: “There’s No Doubt I Should Have Seen Some Red Flags In Terms Of
Me Purchasing A Piece Of Property From Him.”(Peter Slevin, “Obama Says He
Regrets Land Deal With Fundraiser,” The Washington Post, 12/17/06)
Than $3.4 Million ToMutual Bank Has Lent More Tony Rezko:
Since 2002, Mutual Bank Has Lent More Than $3.4 Million To Rezko.
“Mahajan and his bank also have had business dealings with Rezko, who
pleaded not guilty this month to federal charges he tried to squeeze
millions in kickbacks and campaign contributions from firms seeking
approval from two state boards. Since 2002, Mutual Bank has lent more than
$3.4 million to Rezko and his partners in three deals, according to a
review of public records.” (David Kidwell, Ray Long And Rick Pearson,
“Governor’s Wife’s Deals Questioned,” Chicago Tribune, 10/27/06)
— In One Deal, Mutual Bank Lent Rezko $1.32 Million. “In one,
Mahajan’s bank lent $1.32 million to Rezko on several pieces of property
that were deeded back and forth between Rezko partners both before and
after the loan was secured. Banking experts said such moves raise questions
about who owned the property used as collateral for the loan.” (David
Kidwell, Ray Long And Rick Pearson, “Governor’s Wife’s Deals Questioned,”
Chicago Tribune, 10/27/06)
— President And CEO Amrish Mahajan Said He Did Not Know The Property
Was Transferred In The $1.32 Million Deal. “Mahajan said Thursday he had no
idea Rezko and his partners had transferred the property used to secure the
loan and said that would be a violation of the mortgage contract.” (David
Kidwell, Ray Long And Rick Pearson, “Governor’s Wife’s Deals Questioned,”
Chicago Tribune, 10/27/06)
— Amrish Mahajan: “We do not go checking on every loan. … The
mortgage was paid on time, and if I remember correctly it has been
satisfied.” (David Kidwell, Ray Long And Rick Pearson, “Governor’s Wife’s
Deals Questioned,” Chicago Tribune, 10/27/06)
In 2005 Records Show That Amrish Mahajan Signed Renegotiated Loan
Papers Between Rezko And Rezko’s Partner Abdelhamid Chaib. “In 2005,
records show, the Rezko partner who took out the loan with
Rezko–Abdelhamid Chaib–paid off most of the loan and renegotiated a
smaller loan of $156,000. Mahajan signed the renegotiated loan papers.”
(David Kidwell, Ray Long and Rick Pearson, “Governor’s Wife’s Deals
Questioned,” Chicago Tribune, 10/27/06)
Mutual Bank Also Held The Mortgage On A Lot Next To Obama’s House That
Rezko’s Wife, Rita, Bought. “Mutual Bank, records show, has loaned money to
Rezko. In 2005, Mutual Bank held the mortgage on a lot that Rezko’s wife,
Rita, bought next to U.S. Sen. Barack Obama’s south side house. Rita Rezko
later sold Obama a 10-foot-wide strip of her lot, which enabled his family
to expand their side yard.”(Chris Fusco, Carol Marin and Eric Herman,
“Woman With Ties To Gov’s Wife Charged: Accused Of Bilking Taxpayers Out Of
Thousands,” Chicago Sun-Times, 3/8/07)
Amrish Mahajan Was Among Nine Other Individuals Involved With Allegations Of Corruption In The Rezko Trial.
“A month before opening arguments were made in Antoin Rezko’s federal
corruption trial, Gov. Rod Blagojevich’s top lawyer issued a memo to the
governor’s senior aides. The Feb. 8 directive called on staff members to
search their computers, calendars and files for any information relating to
Rezko and eight other notable people whose names have found their way into
allegations of corruption within state government. … Others on Quinlan’s
list include … Amrish Mahajan, a Chicago banker who has raised money for
Blagojevich…” (Kurt Erickson, “Memo Issued On Rezko Month Before Trial,”
The [Illinois] Pantagraph, 5/14/08)
Former CEO Of Fannie Mae And Former Obama Adviser Jim Johnson Resigned
Under Criticism:
Jim Johnson Is The Former CEO Of Fannie Mae. (David A. Vise, “Fannie
Mae Lobbies Hard To Protect Its Tax Break,” The Washington Post, 1/16/95)
“Jim Johnson, The Former Chairman Of Fannie Mae Who Was One Of Three
Advisors Tapped By Democrat Barack Obama To Vet Vice Presidential
Candidates, Resigned Today After Questions Were Raised About Favoritism He
May Have Received From Countrywide Financial Corp.”(Johanna Neuman, “Barack
Obama Advisor Jim Johnson Quits Under Fire,” Los Angeles Times, 6/12/08)
Johnson Remains A Bundler For Obama’s Presidential Campaign And Has
Committed To Raising $100,000 To $200,000. (Obama For America Website,
http://www.barackobama.com, Accessed 5/19/08)
In 1998, Fannie Mae’s Earnings Were Manipulated, Which Resulted In
“Maximum Payouts” To Executives Including CEO Jim Johnson. “As CEO of
Fannie Mae, Johnson, a former chief of staff to Vice President Walter F.
Mondale and chairman of the board of the Kennedy Center, was the
beneficiary of accounting in which Fannie Mae’s earnings were manipulated
so that executives could earn larger bonuses. The accounting manipulation
for 1998 resulted in the maximum payouts to Fannie Mae’s senior executives
– $1.9 million in Johnson’s case — when the company’s performance that
year would have otherwise resulted in no bonuses at all, according to
reports in 2004 and 2006 by the Office of Federal Housing Enterprise
Oversight.” (Jonathan Weisman and David S. Hilzenrath, “Obama’s Choice Of
Insider Draws Fire,” The Washington Post, 6/11/08)
The Manipulation Resulted In Johnson Receiving A Bonus Of Over $1.9
Million When He Otherwise Would Not Have Earned A Bonus. “An Office of
Federal Housing Enterprise Oversight report in September accused the
company of improperly deferring $200 million of estimated expenses in 1998,
which allowed management to receive full annual bonuses. Had the expenses
been recorded that year, no bonuses would have be en paid, the report said.
Fannie Mae reported paying bonuses in 1998 to Johnson, who received $1.932
million; Raines, who then was chairman-designate, $1.11 million; Chief
Operating Officer Lawrence M. Small, $1.108 million; Vice Chairman Jamie S.
Gorelick, a former deputy attorney general, $779,625; Chief Financial
Officer J. Timothy Howard, $493,750; and Robert J. Levin, who was executive
vice president for housing and community development, $493,750.” (Albert B.
Crenshaw, “High Pay At Fannie Mae For The Well-Connected,” The Washington
Post, 12/23/04)
Johnson Also Received Fees And Compensation From Fannie Mae Worth $3.3
Million Between 2001 And 2006. “Johnson left the company before it was
swept up in an accounting scandal that tarred its reputation, but even
during the years of scandal, Johnson was reaping hundreds of thousands of
dollars in consulting fees and other compensation, $3.3 million in all
between 2001 and 2006.” (Jonathan Weisman and David S. Hilzenrath, “Obama’s
Choice Of Insider Draws Fire,” The Washington Post, 6/11/08)
In 1998, Fannie Mae Improperly Deferred $200 Million Dollars In
Expenses, Which Allowed Johnson To Receive Nearly $2 Million In Bonuses;
Johnson Would Not Have Received A Bonus If The Money Had Been Properly
Expensed. “An Office of Federal Housing Enterprise Oversight report in
September accused the company of improperly deferring $200 million of
estimated expenses in 1998, which allowed management to receive full annual
bonuses. Had the expenses been recorded that year, no bonuses would have
been paid, the report said. Fannie Mae reported paying bonuses in 1998 to
Johnson, who received $1.932 million; Raines, who then was
chairman-designate, $1.11 million; Chief Operating Officer Lawrence M.
Small, $1.108 million; Vice Chairman Jamie S. Gorelick, a former deputy
attorney general, $779,625; Chief Financial Officer J. Timothy Howard,
$493,750; and Robert J. Levin, who was executive vice president for housing
an d community development, $493,750.” (Albert B. Crenshaw, “High Pay At
Fannie Mae For The Well-Connected,” The Washington Post, 12/23/04)
In 1998, Johnson, Then-CEO Of Fannie Mae, Hosted The Opening Ceremony
Of A Lobbying Office In Oklahoma. “The concern is whether such efforts were
made to bolster Fannie’s business more than to advance philanthropic goals.
Critics say the foundation helped to reinforce ties with various
congressional groups forged by Fannie’s in-house lobbyists. At times the
two seemed indistinguishable: They often sponsored events in tandem. Both
were big donors to the CBCF’s annual awards gala in 2003 and a similar
black-tie event for the Congressional Hispanic Caucus Institute in 2002. In
1998, then-CEO Jim Johnson hosted the opening ceremony of a lobbying and
public relations office in Oklahoma, an event attended by former Oklahoma
Governor Frank Keating and then-Senator Don Nickles (R-Okla.). But wearing
his other hat as the foundation’s chairman, Johnson also took the
opportunity to announce $125,000 worth of grants to local charities.” (Dawn
Kopecki, “Philanthropy, Fannie Mae Style,” Business Week, 4/2/07)
Obama Solicits Advice From Former Fannie Mae CEO Franklin Raines, Who
Was “Under The Shadow Of A $6.3 Billion Accounting Scandal”:
The Obama Campaign Has Solicited Franklin Raines, Who “Stepped Down As
Fannie Mae’s Chief Executive Under The Shadow Of A $6.3 Billion Accounting
Scandal,” For Advice On Mortgage And Housing Policy. “In the four years
since he stepped down as Fannie Mae’s chief executive under the shadow of a
$6.3 billion accounting scandal, Franklin D. Raines has been quietly
constructing a new life for himself. He has shaved eight points off his
golf handicap, taken a corner office in Steve Case’s D.C. conglomeration of
finance, entertainment and health-care companies and more recently, taken
calls from Barack Obama’s presidential campaign seeking his advice on
mortgage and housing policy matters.” (Anita Huslin, “On The Outside Now,
Watching Fannie Falter,” The Washington Post, 7/16/08)
Like Jim Johnson, Raines Received Low-Rate Home Loans From Countrywide,
A Major Seller To Fannie Mae. “Fannie Mae’s former CEO, Jim Johnson,
resigned Wednesday as the leader of likely Democratic presidential nominee
Barack Obama’s search for a running mate after The Wall Street Journal
reported that he and another former CEO, Franklin Raines, received low-rate
home loans from troubled mortgage lender Countrywide Financial Corp. a
major seller of home loans to Fannie Mae.” (Alan Zibel, “Fannie Mae CEO
Says Ethics Policy Bans Discounts,” The Associated Press, 6/12/08)
Former Fannie Mae Chairman Frank Raines Was Accused Of Manipulating The
Company’s Earnings. “Former Fannie Mae chairman and chief executive
Franklin D. Raines, accused of manipulating the housing finance company’s
earnings, is challenging regulators to make their case against him
beginning Feb. 16 instead of waiting until the end of the year.” (David S.
Hilzenrath, “Fannie Mae’s Former Chief Wants Earlier Hearing Date,” The
Washington Post, 2/6/07)
Raines Was Forced Out As Fannie Mae’s CEO In December 2004. “Former
chief executive Franklin D. Raines and chief financial officer J. Timothy
Howard were forced out Tuesday night after accounting mistakes that could
cost Fannie $9 billion in reported profit.” (David S. Hilzenrath, “Fannie
Mae Exit Packages Face Review,” The Washington Post, 12/23/04)
Under Raines’ Leadership, Fannie Mae Committed “Extensive Financial
Fraud” And Was Forced To Pay A $400 Million Civil Penalty. “In a May
report, the Securities and Exchange Commission and the Office of Federal
Housing Enterprise Oversight found that Fannie Mae under Raines perpetrated
‘extensive financial fraud’ so that executives could collect big bonuses.
There have been no criminal charges, but the conduct of Raines and other
senior Fannie executives ‘was inconsistent with the values of
responsibility, accountability, and integrity,’ the agencies said. Fannie
paid a $400 million civil penalty this year to the SEC and OFHEO.” (Jay
Hancock, Op-Ed, “Raines Claiming Accountability Isn’t Enough,” The
[Baltimore] Sun, 12/10/06)
Penny Pritzker, Obama’s National Finance Chairman And Hyatt Heiress,
Co- Owned Superior Bank FSB, A Subprime Mortgage Lender:
Penny Pritzker Is The National Finance Chairman For Barack Obama. “And
Penny Pritzker, a Chicago philanthropist, serves as Mr. Obama’s national
finance chairman even as her brother, Jay Robert, holds fund-raisers across
town for Mrs. Clinton.” (Jodi Kantor, “In Democratic Families, Politics
Makes For Estranged Bedfellows,” The New York Times, 2/4/08)
Penny Pritzker Is An Heiress To Hyatt Hotel Fortune. “As billionaire
Penny Pritzker stood in the kitchen of her Lincoln Park home in early
January, she and her husband debated whether her schedule could take on
another massive challenge. The Hyatt hotel heiress was running multiple
businesses, trying to spend time with her two teenage children and dealing
with numerous civic and philanthropic responsibilities.” (John McCormick,
“Pritzker Blazes Campaign Trail,” Chicago Tribune, 9/30/07)
The Pritzker Family Owns Ticketmaster. “Ticketmaster first became a
center of controversy in the music world 13 years ago, when alternative
rockers Pearl Jam declared war on what they called an unjust monopoly –
and it all started in Chicago. Though Ticketmaster was founded in 1978, its
rise to prominence in the concert world really began in 1982, when it was
purchased for $4 million by Chicago investor Jay Pritzker, head of the
billionaire family that owns the Hyatt hotel chain. From that point on, its
headquarters were based in Los Angeles, and it quickly became the dominant
force in ticket sales nationwide.” (Jim DeRogatis, “Chicago And
Ticketmaster: The History,” Chicago Sun-Times, 6/17/07)
The Pritzker Family Co-Owned Superior Bank FSB. “Ms. Pritzker, who
declined to be interviewed, has confronted other challenges, including the
2001 collapse of Superior Bank FSB, which the Pritzker family co-owned,
resulting in a $460-million payment to federal regulators, and a rift over
family assets that settled out of court in 2005. She oversees the Pritzker
family’s non-hotel real estate interests and chairs its TransUnion LLC
credit bureau.” (Steven R. Strahler, “Penny Pritzker,” Chicago Crain’s
Business, 5/7/07)
Superior Bank Was A “Subprime Lender That Made Risky Mortgage And Auto
Loans To People With Poor Credit Histories.” “Auditors Ernst &
Young…agreed to pay the FDIC $40 million in restitution in connection
with the collapse of the bank, a subprime lender that made risky mortgage
and auto loans to people with poor credit histories. It had about $2
billion in assets when it was shuttered.” (Kathy Bergen, “Millions For
Pritzkers In Settlement,” Chicago Tribune, 12/28/04)
Source: Republican National Committee
Jim Kouri, CPP is currently fifth vice-president of the National Association of Chiefs of Police and he’s a staff writer for the New Media Alliance (thenma.org). In addition, he’s the new editor for the House Conservatives Fund’s weblog. Kouri also serves as political advisor for Emmy and Golden Globe winning actor Michael Moriarty.
He’s former chief at a New York City housing project in Washington Heights nicknamed “Crack City” by reporters covering the drug war in the 1980s. In addition, he served as director of public safety at a New Jersey university and director of security for several major organizations. He’s also served on the National Drug Task Force and trained police and security officers throughout the country. Kouri writes for many police and security magazines including Chief of Police, Police Times, The Narc Officer and others. He’s a news writer for TheConservativeVoice.Com and PHXnews.com. He’s also a columnist for AmericanDaily.Com, MensNewsDaily.Com, MichNews.Com, and he’s syndicated by AXcessNews.Com. He’s appeared as on-air commentator for over 100 TV and radio news and talk shows including Oprah, McLaughlin Report, CNN Headline News, MTV, Fox News, etc. His book Assume The Position is available at Amazon.Com. Kouri’s own website is located at http://jimkouri.us
