The Chicago Tribune reports on
Saint Obama:
When Sen. Barack Obama decided to buy a stately $1.65 million home last year on Chicago's South Side, Antoin "Tony" Rezko and his wife wasted no time. The same day the Obamas closed on the house, the Rezkos closed on the purchase of the adjoining vacant lot, which once was the estate's lush side yard.
In normal circumstances, the two real estate transactions probably wouldn't have raised an eyebrow. There is, after all, nothing illegal or untoward about an aggressive developer buying hot property next door to a rising political star.
But these are not normal times for either Obama or Rezko, two longtime friends whose fortunes have taken sharp turns in opposite directions.
Illinois' junior U.S. senator has become a political star, riding a surge of popularity that has made him a top potential candidate for the 2008 Democratic presidential nomination.
Rezko, meanwhile, has achieved notoriety of a different sort. In October, he pleaded not guilty to federal charges involving pay-to-play allegations that surround Illinois Gov. Rod Blagojevich's administration.
Now the hows and whys of a real estate deal, and a train of subsequent transactions, are raising questions about the relationship between the two men, as Obama struggles to distance himself from Rezko, and Rezko strives to stay out of prison.
Over the last 16 months, as they jointly worked to improve their side-by-side properties, the two men entered an ongoing series of personal financial arrangements. Because Rezko was widely reported to be under federal grand jury scrutiny, Obama said he was careful to ensure their transactions were ethical and proper.
No word yet from Frank Rich and Joel Klein on this one.In other recent
Resko news:
Controversial political fund-raiser Antoin “Tony” Rezko has been sued by a firm that provided financial backing to his stalled Near South Side development.
The firm, Chicago Riverside Investments LLC, is managed by Muhamad Dabbouseh, an investor with ties to Mr. Rezko and whose children got state jobs under the Blagojevich administration.
Chicago Riverside wants to collect $1.7 million on a loan for the development.
The lawsuit is another sign of financial woe for the once high-flying entrepreneur, who pleaded not guilty Oct. 19 to federal charges that he obtained millions of dollars in kickbacks from investment firms seeking state business.
Barack Obama is in for a rude awakening if he thinks Illinois style sleaze will be tolerated nationally.
