About the Author

Richard Cochrane is trained in chemistry and metallurgy but is far more interested and practiced as a political and fund raising consultant, writer and amateur historian. He grew up in a Navy family and with his two younger brothers carried on its 500+ year tradition of naval service to Great Britain and the USA then enjoyed a career with one of the largest advertising and public relations agencies working with numerous Fortune 500 companies and many of America's premier educational institutions. He maintains friendships and acquaintanceships around the world. He lives in Santa Barbara, California.

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Obama Joins List of Congressional Home Loan Hypocrites

July 2nd, 2008 • Richard Cochrane

The Obama campaign is issuing another of its patent if tiresome Hogan’s Heros Sgt Schultz-like “I know nothing; I see nothing” disclaimers.

Barack Obama has been exposed in Wednesday’s July 2 Washington Post, for getting a sweetheart deal when he bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood he bought at a $300,000 discount and involves “Tony” Rezko who has been convicted of 16 corruption charges. To finance the mansion, Obama got a super-jumbo $1.32 million loan from Northern Trust in Illinois at a discount that saved the Obamas $108,000 over the course of the 30-year loan.

In addition to the Rezko connection it turns out Northern Trust employees have contributed $71,000 to Obama.

Obama now joins the list of “homeloan hypocrites” including: Sens. Christopher J. Dodd (D-Conn.) chairman of the banking committee,who pocketed $77,000 on his bankrupt COUNTRYWIDE loan, Kent Conrad (D-N.D) who bellied up to the COUNTRYWIDE free money through, and former Fannie Mae chief executive James A. Johnson resigned abruptly as head of the vice presidential search committee after his own favorable Countrywide loan became public. So far the Democrat Congress has refused to investigate any of this whether it will shield Obama too is unknown.

The Obama mansion has six bedrooms, four fireplaces, a four-car garage and 5 1/2 baths, including a double steam shower and a marble powder room. It had a wine cellar, a music room, a library, a solarium, beveled glass doors and a granite-floored kitchen.

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