Obama Lies on Rezko

Sen. Barack Obama (D-IL), and presidential candidate wrote letters for Rezko to city and state officials supporting Rezko's offer to build "affordable" housing for seniors. Rezko sought and received $14 million in taxpayer subsidies, which funded the entire project. The complex was located outside of Obama's district, but yielded $855,000 in fees for Rezko and his partner. Rezko was a major campaign contributor to Obama, including heading fundraising for his Senate campaign. Sun Times:

Obama's letters, written nearly nine years ago, for the first time show the Democratic presidential hopeful did a political favor for Rezko -- a longtime friend, campaign fund-raiser and client of the law firm where Obama worked -- who was indicted last fall on federal charges that accuse him of demanding kickbacks from companies seeking state business under Gov. Blagojevich.

The letters appear to contradict a statement last December from Obama, who told the Chicago Tribune that, in all the years he's known Rezko, "I've never done any favors for him.''

Then there's this kicker about Obama's old law firm boss turned developer, and his friends:

In addition to the development fees, a separate Davis-owned company stood to make another $900,000 through federal tax credits.

Cottage View Terrace was supposed to be managed by Davis' longtime business partner, William Moorehead. But Moorehead said last week that his company was dumped before the apartments opened in 2002. The apartments are now managed by Urban Property Advisors, a company owned by Davis' son, Cullen Davis.

Moorehead is due to report to prison next month to begin serving a four-year sentence for stealing more than $1 million from the Robert Taylor Homes and other public housing projects he managed for the Chicago Housing Authority and the U.S. Housing and Urban Development Department, as well as from two developments he co-owned with Davis near Cabrini-Green on the North Side.

Not a pretty picture. You see how this works---influence, corruption and politics. Funded by the taxpayers. No wonder Obama lied about his part in it.

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