Obama Got Super, Super Jumbo Loan Deal
Well, it turns out U.S. Sen. Chris Dodd is not the only Washington insider who can get a sweetheart deal.
According to today’s edition of the Washington Post, Democratic Presidential nominee Barack Obama was able to find a willing lender for his digs in a trendy neighborhood in his hometown of Chicago.
Obama secured a Super, Super Jumbo loan from Northern Trust and had various closing costs and points waived, much like Dodd in his transaction with Countrywide Financial. However, Obama didn’t get the really low interest rates of 4.25 and 4.5 percent that our senior Senator landed.
Obama got the $1.32 million loan from Northen Trust as a first-time customer, which has also raised eyebrows. Dodd claimed his VIP treatment through a program known as “Friends of Angelo” also waived points off his bottom line.
This is the same property that has an adjoining vacant lot that was paid for, on the same day, by the wife of a political contributor and convicted felon Tony Rezko. the owner of that lot also owned the home that was sold to Obama who then bought the lot from Rezko at an inflated price.
And, Northern Trust employees have contributed a total of $71,000 to Obama and almost $740,000 to various federal campaigns since 1990.
Well, at least Obama knows where to get a loan. It shouldn’t be too hard for him to explain all of this. At least he will have to, unlike Sen. Dodd who continues to hide from releasing all the pertinent documents from his transactions with Countrywide, which has been bought by Bank of America.










