Here is a Washington Post excerpt describing the home of Sen. Obama in Chicago:
Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois.
The freshman Democratic senator received a discount. 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.
Source
link (emphasis added).
There's more:
The couple wanted to step up from their $415,000 condo. They chose a house with 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.
Source
link.
Then there is the Rezko link:
Obama's house purchase has been a source of controversy. In 2006, the Chicago Tribune reported that on the day of the closing, the wife of Obama's longtime friend and fundraiser Antoin "Tony" Rezko closed on an adjoining lot that had been the estate's side yard.
The Obamas bought the house for $300,000 less than the asking price of $1.95 million, while Rezko's wife, Rita, bought the neighboring lot for the full asking price of $625,000. Rita Rezko later sold a portion of the undeveloped lot to the Obamas, enlarging the senator's yard.
Tony Rezko already had been linked to a grand jury investigation involving public corruption. Last month, he was convicted of 16 counts in an influence-peddling scheme that reached the highest levels of Illinois state government.
Source link.
There sure is a lot of "audacity" in the Obama rush to elite living. But there is precious little "hope" for those left behind.
To see the lack of real hope for those left behind contrast the above lavish personal lifestyle with the results of Obama's housing policy in his own state senate district in Chicago. Note that the source is the liberal
Boston Globe describing a housing development in Obama's district based on Obama's housing policy (which he is now taking to the national stage):
About 99 of the units are vacant, many rendered uninhabitable by unfixed problems, such as collapsed roofs and fire damage. Mice scamper through the halls. Battered mailboxes hang open. Sewage backs up into kitchen sinks. In 2006, federal inspectors graded the condition of the complex an 11 on a 100-point scale - a score so bad the buildings now face demolition.
Grove Parc has become a symbol for some in Chicago of the broader failures of giving public subsidies to private companies to build and manage affordable housing - an approach strongly backed by Obama as the best replacement for public housing.
Source
link.
And, yes, there is the typical cronyism in addition to the old, failed liberal approach to urban housing for the poor:
Grove Parc and several other prominent failures were developed and managed by Obama's close friends and political supporters. Those people profited from the subsidies even as many of Obama's constituents suffered. Tenants lost their homes; surrounding neighborhoods were blighted.
Source
link.
Yesterday, even liberal NPR had a story on the
Boston Globe exposé. What we see here is a pattern I have seen in other parts of the United States: elitist liberals push failed policies on the poor that damage the surrounding neighborhoods, while the elitist liberals live comfortably in upscale comfort shielded from the blight fostered by their very own failed policies. Obama is not offering change. He is offering the same old failed, urban-destroying policies of the past while living a lavish personal lifestyle of privilege. It's the same pattern you see in the liberal opposition to school vouchers: the refusal to empower the urban poor, while elitist liberals send their kids to plush private schools. The blight, the ineffective government programs, and the cronyism and potential for corruption are typical of the Third World reality in many American cities. America deserves better than that.
The more you learn the details and facts about Obama, the worse things look. I have to compliment the liberal media for daring to get the facts and presenting them. Obama is looking more like a phony with each passing day. If McCain can expose the phoniness, we are looking at another Republican President.