by Ray Gibson
Just weeks before Election Day, a former banker has filed a lawsuit in Cook County Circuit Court claiming he was fired for reporting to his bosses that there had been some shenanigans with the paperwork on a loan involving the purchase of Barack Obama's South Side home and its neighboring lot.
Kenneth Conner claims in the suit that an appraisal found the vacant lot purchased by Obama fundraiser Antoin "Tony" Rezko was worth $125,000 less than the bank's first appraisal. The Republican National Committee was peddling the suit today with the apparent hope that Conner's allegation would lend credence to the suggestion Obama needed Rezko's help to finance the purchase of the Kenwood home--something Obama has denied.
The suit also includes this intriguing assertion: The Rezko loan file was subpoenaed by a federal grand jury in Chicago, and when the bank responded to the subpoena the lower appraisal wasn't included in the papers sent to federal investigators.
But the suit may not exactly be an October surprise to use against Obama: The suit alleges that the subpoena went out on Oct. 19, 2006 -- before the Tribune first revealed an Obama connection to the parcel. On Nov. 1, 2006, the Tribune reported that the Obamas closed on their Kenwood home the same day that Rezko's wife, Rita, had purchased an adjoining vacant lot.
So it appears from the court filing that the subpoena was part of the ongoing federal probe of Rezko, who was convicted in June of a multimillion-dollar kickback scheme involving Gov. Rod Blagojevich's administration.
Public records also suggest that the lower appraisal was off the mark. The bank doesn't appear to have lost any money on their loan on the lot, according to land records. When the lot sold last year, the Rezkos netted roughly $54,500.
See the lawsuit over the Rezko-Obama land deal here:Chicago law suit.pdf
Comments
huh? I'm a smart guy, but I can barely follow this. Good luck to the GOP trying to get voters worked up over this. Plus, how many scandal allegations about Obama can the Republicans throw at the wall? I mean really, it's like the boy who cried wolf. At this point most people have stopped listening...
Posted by: Richard | October 17, 2008 9:18 PM
Oh ...take notice Trib.....Ayers!
Next!
Posted by: bill "Hussein" r. | October 17, 2008 9:47 PM
Will be interested to see Obama lie out of this one like he has so far regrading Ayers conection-
Wonder if he will get Tribune cover up-
Posted by: LOAM | October 17, 2008 10:06 PM
The Bush-McCain Republicans have their fingers and toes crossed again, just hoping that this is the rumor, the innuendo, the smear that will make Senator McCain an acceptable candidate. What a way to run a campaign, to hope they can dig up dirt, or fabricate dirt and smear a good American, as they have done to a true war hero, with lost limbs to prove it, former Senator Max Cleland !! That is the Bush-McCain Republicans great contribution to American politics, the fine art of the smear, the character assassins !! This is one of those times in American history, in which, most Americans hang their heads in shame, for the way other Americans are disrespecting and abusing an American, for the sake of an election !! I hope America will show this repugnant minority, these Bush-McCain Republicans, that they are not the true representatives of America and vote for Senator Obama !! The Bush-McCain Republicans are a distortion of what it means to be an American !!
SUPPORT OUR TROOPS, BRING THEM HOME, ALIVE AND WHOLE. NOW.
Posted by: Don Fitzgerald, Chicago | October 17, 2008 10:24 PM
In reading the lawsuit, and the above article, this implicates Rezko more than it implicates anyone else. Also, it looks like the plaintiff has a score to settle with Mutual Bank. No this is not an October surprise for a 10' strip of land.
By the way, Mutual Bank failed to follow their own procedures on land appraisal and loan prigination. The plaintiff may also have not followed proper procedures in his involvement in the deal. The lawsuit effectively implicates both the plaintiff and the defendant.
This lawsuit involves the Rezkos, the plaintiff and the defendant. As the transaction occurred before Barack Obama paid for the land; it clearly shows he was not ivolved with the issues raised in the law suit.
Another GOP tactic to distract from the election. Also, this story does not taint the Tribune's endorsement of Barack Obama.
Posted by: Nick | October 17, 2008 10:29 PM
obama could not afford the house. $125,000 of the cost of the house was shifted to the cost of the vacant land next door. rezko over pays for the vacant landing covering for obama. After obama's millions in book money came in obama over paid rezko for a 10 foot strip an amount that just about equals the 'profit.' And Ms. Rezko sold the vacant land to a company owned by her husband's former business attorney.
We have a political fixer doing favors for a pol and an attorney laundering money for the rezko's. I guess the Tribune doesn't see a problem there because after all it’s the Chicago way.
Posted by: hadenough | October 17, 2008 11:27 PM
Who cares that Obama needed Rezko's shady dealings and contacts to help finance his Kenwood home...
Joe "the plumber" doesn't have a plumbing license!
Paulo
Posted by: Paulo | October 18, 2008 1:07 AM
15 minutes...
Posted by: lochnessmonster | October 18, 2008 6:52 AM
Kenneth Conner? You don't mean the same Kenneth Conner that contributed $800 on 11/10/2004 to KEYES 2004 INC - Republican campaign, do you? I'm shocked!!
Posted by: Dan M | October 18, 2008 7:01 AM
I have the following questions regarding this issue:
If Obama becomes President will he retain Patrick Fitzgerald as United States Attorney for the Northern District of Illinois?
If he becomes President will Barack Obama pardon Tony Rezko?
Why has the media failed to find out about this issue earlier and will they follow up on it immediately?
Posted by: joe jankovic | October 18, 2008 7:31 AM
He will have to pardon Tony to avoid backmail-
Fitzgerald will be out someway-
Posted by: LOAM | October 18, 2008 11:07 AM
Another phony Repuglican publicity stunt.
Since the transaction happened in 2004, sort of funny this thing popped up 17 days before the election.
Check out the attorneys involved and you'll no doubt find they are down at the heels ne'er do well Repuglican heelers who have no legitimate cases to pursue.
The reason "this issue" was not brought up before, is that it is a non-issue, a manufactured, feigned & maintained, champertous suit.
If you dig to the bottom of it.
But Barack was told that the only way he could lose was if voters stopped focusing on the economy.
So, he's talking about the economy.
Meanwhile, repuglitrolls will next file a suit claiming Rezzie was really an agent for ACORN.
Better find some new, fresh mudballs fast, guys.
These ones they are not sticking.
Posted by: ornery | October 18, 2008 11:36 AM
You Repugs are missing the point again as usual. This is why the American public is not really that interested. The question is: Prove what perks Rezko got out of the deal. People do favors all the time for politicians. This is simply not even a news item to many people. Also, besides an unconventional loan, what did Obama get out of this deal? Unless there is proof that Obama had a net gain, and Rezko had a net gain, there is nothing but business deals between them. The ultimate question is: Why do the repugs want to always do court battles near elections, and why does McSame not want to inspire people with a good campaign.
Posted by: Xcellentform | October 18, 2008 11:46 AM
"how many scandal allegations about Obama can the Republicans throw at the wall? I mean really, it's like the boy who cried wolf. At this point most people have stopped listening..."
Oh geee I dunno, maybe we should start training very nice well meaning people to fly 747's again.. wheres the problem? I'm sure lots of them would make WONDERFUL "respected" professors.
Me, I think theyve ALL "rehabilitated" themselves.
It's Palin that scares me. Sure as sh*t she'll conspire to get poor PROF. Ayers fired.
Posted by: zak | October 18, 2008 4:07 PM
Perhaps Joe the Plumber ought to change his name to Barack Obama.
That way, the Tribune would never investigate him.
Posted by: Disgusted | October 19, 2008 8:35 AM
Take a creative writing course, dittoheads, then you can make up your own fantasies instead of just parroting FoxNews.
Posted by: sobe | October 19, 2008 10:02 AM