Blog Watch - Obama’s Countrywide-like Sweetheart Mortgage Deal
This from Red State
Shortly after being sworn in as a U.S. Senator in January 2005, Obama bought a Georgian mansion in an upscale Chicago neighborhood. Obama bought the house for $300,000 less than the asking price of $1.95
million.The Obamas’ income had just risen dramatically. As a U.S. Senator, Obama got an annual salary of $162,100, Random House agreed to reissue an Obama memoir as part of a $2.27 book million deal, and the University of Chicago Hospitals promoted Michelle Obama and more than doubled her pay, to $317,000.
To finance his new mansion, Obama secured a $1.32 million loan from Northern Trust in Illinois. Obama received a discount on the loan:
He locked in an interest rate of 5.625 percent on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago. The loan was unusually large, known in banker lingo as a “super super jumbo.” Obama paid no origination fee or discount points, as some consumers do to reduce their interest rates.
Compared with the average terms offered at the time in Chicago, Obama’s rate could have saved him more than $300 per month.
So who cares? Perhaps you should..
Newsmax has also: Obama, Like Dodd and Conrad, Got Cheap Home Loan
Here is Obama taking about his buddies at Countrywide…
*****
Here is a little sidebar…this post made me think of a conversation with my mom last night.
Was talking to mom and she asked me who I was voting for (president) and I said neither because both suck as I have said numerous times.
She inquired about Obama and I said to her if Obama is elected he will screw up and be exposed as the liar fraud he is and will unseat Bill Clinton as the biggest liar fraud president in history.
She asked why I thought that way and I said:
“mom there is a lot about Obama that you will never hear about or read about, discussing him is pointless, unless people are willing to really learn about him and what he stands for simple ignorance is his ticket to the White House.”
She scoffed and said “I watch the news all the time and I read a lot”, I then gave her a few Obama examples about his past dealings like this revelation about his home loan and examples of some of the scum he associates himself with and asked if she had heard about any of these examples and she said no.
I then asked, “well why don’t you know, since you watch the news often and read a lot,” she just gave me a dirty look and said well I can’t read everything!
Thank goodness for my interest in blogging and thank goodness for Rush and his peaking my interest in politics.
I’ll be celebrating his 20th anniversary next month too since I was listening to Rush even before his national introduction.
He is also how I learned about Thomas Sowell and many other great conservative thinkers.
Anywho, how many millions of people out there are like my mom, believing that they are indeed informed and knowledgeable while at the same time woefully ignorant and a slave to a media that thrives on the publics’ collective ignorance.
It is not illegal, nor a sin to be ignorant, nor is it a requirement necessary to cast a vote for the leader of the free world.
I’m sorry for being off topic, I just wanted to rant a bit.
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July 2nd, 2008 at 4:26 pm
When asked what she knew about the local candidates back in 2000, Grannie said “Not hardly anything at all!”
‘Well…but… how do you decide who to vote for then?’ - was my bewildered reply.
“Oh, I just go down the list of Democrats - if I see any women, I vote for them - otherwise, a man from the list is okay.”
Never mentioned anything about politics again.
These people vote.
- MuscleDaddy
July 2nd, 2008 at 8:02 pm
You are so not off topic. Your point is central to this election and the phenomenon of the Obamessiah. (Plus, do not hold back when you feel an urge to rant — your rants are good reads.)
Your story about your mom reminded me of an incredibly similar conversation between my mom and myself when Bill Clinton burst onto the presidential election scene.
My mother was well read and well informed and paid close attention to national politics. It was from my mom that I learned not to trust regular news sources and that the media very rarely told us the truth. Every time I or my husband traveled she would have us bring newspapers from other cities so she could read them and clip articles, make connections, and then mail them with her summaries to like-minded friends.
I now realize she was a political “blogger”, ahead of her time — we just didn’t know it.
Yet I was stunned to find that in those days of his first campaign she had not gotten past his charismatic mask to the lying Arkansan hickster who seemed more like a low-class used car salesman than presidential material. I thought he just oozed creep. (Little did either of us know at the time how we were both missing the boat on recognizing the true nature of the Hildebeast.)
My mom’s near-blindness prevented her from using a computer even though she read voraciously (with a GIANT magnifying glass). In later years after the advent of the incredible information retrieval/exchange of the internet she was confined to her bed, so I would bring her tons of things to read — printed out in very large print — from conservative bloggers and online mags.
She would have made a brilliant blogger. She had a way of connecting the dots with discrete bits of info.
There was just that one time where she and I parted in opinions on Wild Bill. Of course, after his total inability to display any redeeming qualities of character became evident to pretty much everyone, I never let her forget that I called that one before the game even started. Hehehe.
Mom passed away last November.
… but she and I still talk. :-)