All totaled, the Times said, employees at more than 30 companies listed on the group's website and their relatives donated more than $300,000 to help Obama win his US Senate seat in 2004 and "set fund-raising records early in the 2008 presidential race."
In fact, when Illinois State Senator Emil Jones, Jr became the State Senate president in 2003, he assigned Obama to a committee looking into the pension questions "to help raise his political profile," according the Times.
During this period, the Times says, campaign finance records show executives from Ariel Capital, Loop Capital, Holland Capital and Capri Capital, "sharply increased their donations" to Obama's State Senate campaign fund.
"And once he began his campaign for the United States Senate," the Times wrote, "they quickly became a fund-raising core that has carried over into the presidential race."
Obama quit the State Senate committee in late 2003 as his race for the US Senate heated up, "and just as the panel began a series of hearings that produced the most substantial changes," the Times reports.
The changes generated millions dollars in fees for some of the firms. For instance, Loop saw its fees from one pension fund rise to $2.4 million in 2006, from $5,700 in 2001, and Holland and Ariel both got several hundred million from the pension funds to invest.
John Rogers and two other people at Ariel each bundled at least $50,000 in donations for Obama's presidential campaign, according to the Times.
An October 3, 2005 article in the Sun-Times, by Chris Fusco and Dave McKinney, reported that Ariel and its top executives also contributed $117,500 to Blagojevich's campaign.
Although the current criminal case focuses on two boards, the testimony of Jill Hayden, the former head of Blagojevich's Office of Boards and Commissions, established that the same process was used to fill some 1,500 positions, on 300 boards and commissions, that control a wide variety of regulatory decisions, which would include other pension funds.
Blagojevich appointed Davis to serve on a separate pension board, the Illinois State Board of Investment, which oversees funds for state employees, judges and legislators, and "also has been under federal investigation," according to the November 7, 2007 Sun-Times
In the September 23, 2007, Sun-Times, in reference to the "minority owned" DV Urban, of Davis and Robert Vanecko, Tim Novak reported that a "nephew of Mayor Daley stands to make millions of dollars from city-connected pension funds" in "winning business from pension funds for city workers, cops, teachers and CTA employees".
All total, the pension funds gave DV Urban $68 million. The first investor was the Chicago Teachers Pension Fund, but according to Novak's report, the board members did not learn that DV Urban was owned by the Mayor's nephew until 6 months after they voted to approve the investment.
As of September 23, 2007, Davis and Vanecko had received $1 million in management fees and they are "guaranteed at least $3 million in management fees and could make as much as $8.4 million before the pension deal ends on Dec. 31, 2014," Novak reports.
In addition, Davis and Vanecko will share in any profits from the real estate deals and can earn a 3% fee on the property they develop.
Obama says he met Rezko, when he got a call right out of the blue from David Brint, after he was elected president of the Harvard Law Review, wanting to know if he would be interested in being a developer for Rezko's real estate company, Rezmar.
Because they read that he was interested in community development work, Obama says, Rezko and his two partners, Mahru and Brint, met with him to discuss the job. "I said no, but I remained friendly with all three of them," Obama said in the Chicago Tribune on November 1, 2006.
you have posted an inventory of half truths, outright lies and speculations that have evidently been loaded into your word processor with the same shovel you use to clean the stable and quite clearly for use with the same material.
This load of shit isn't even worthy of dissecting with corrections. I can, however, see how you have come to be a propagandist Clintonista.
by
John Sanchez Jr. (4 articles, 0 quicklinks, 8 diaries, 1053 comments)
on Friday, April 4, 2008 at 4:22:13 PM
Tracing the trail of Iraqi born billionaire Nadhmi Auchi indicates Rezko's deals may include a money trail leading back to Saddam Hussein oil for food program.
A 2004 Pentagon report described Auchi, "who, behind the facade of legitimate business, served as Saddam Hussein's principal international financial manipulator and bag man." Auchi prospered in Saddam's regime collecting "commissions" on sale of weapons and other goods to Iraq in the 1980s and 1990s.
A recent Pentagon report accuses Auchi of "unlawful activities working closely with Iraqi intelligence operatives to ... arrange for significant theft from the U.N. Oil-for-Food Program to smuggle weapons and dual-use technology into Iraq," and to "organize an elaborate scheme to take over and control the post-war cellular phone system in Iraq."
At Saddam's insistence a scheme orchestrated by Auchi appropriated billions of dollars from America through America's Oil for Food program into Auchi's bank account. These transactions passed through Banque Nationale de (BNP) from its 1995 inception until 2001 through Auchi's General Mediterranean Holdings Company (GMHC) which was the largest private shareholder in Paris. Auchi's General Mediterranean Holdings has connections in Iraq which lead right back to Tony Rezko.
Auchi's company helped finance a 250 megawatt power plant in the Kurdish town of Chamchamal, Iraq, teaming up with Rezko and Iraq's former Minister of Electricity, Aiham Alsamarrae. In December, 2006 Alsamarrae was accused of graft and is being charged in a $2 billion Iraqi reconstruction corruption case. Alsamarrae is a Chicago resident with dual US-Iraqi citizenship -an embarrassing connection for the war critic Obama. Alsamarrae is now living in his Chicago mansion.
Writing in Human Events, March 3, 2008, John Batchelor reports on an Alsammarae-Obama-Rezko connection: "...in April 2005, one month before Mr. Alsammarae left his post, his Ministry of Electricity signed a contract for $50 million with Companion Security to provide training to Iraqis to guard electrical plants by flying them to Illinois for classes.
"Companion Security was headed by a former Chicago policeman with a troubled history, Daniel T. Frawley, in partnership with Mr. Rezko and in association with Daniel Mahru, the lawyer for the original contract and Mr. Rezko's former business partner. In April 2006, Mr. Frawley entered negotiations with Governor Rod Blagojevich's staff to lease a military facility in Illinois to be a training camp. In August 2006, Mr. Frawley started negotiations with Mr. Obama's U.S. Senate staff to complete the contract....
"The timeline of Companion discussions in 2006 is important to note: April 2006 Frawley speaks to governor's office; August 2006 Frawley speaks to senator's office; October 2006 indictment of Rezko revealed; October 2006 Rezko arrested upon return from Syria; October 2006 Alsammarae convicted in Baghdad and makes his first escape attempt; December 2006 Alsammarae escapes from Baghdad. ..."(In 2004) Mr. Auchi traveled by private aircraft to Midway Airport in Chicago and then to a fete at the Four Season Hotel, where he met with his business partner in Chicago real estate, Mr. Rezko, as well as with Illinois Governor Rod Blagojevich. Also present that night, according to a fresh report by James Bone and Dominic Kennedy of the London Times, was State Senator Barack Obama, who had recently won the Democratic primary for the U.S. Senate seat...."
The Obama Connection
Recently the London Times reported that Auchi had been a business partner of Rezko since 2003 and between April 2005 and 2007 loaned Rezko at least $18 million. On February 1 the London Times reports uncovering, "state documents in Illinois recording that Fintrade Services, a Panamanian company, lent money to (an) Obama fundraiser in May 2005. Fintrade's directors include Ibtisam Auchi, the name of Mr. Auchi's wife." "A company related to Mr. Auchi, who has a conviction for corruption in France, registered the loan to Mr. Obama's bagman Antoin 'Tony' Rezko on May, 23 2005. Mr. Auchi says the loan, through the Panamanian company Fintrade Services SA, was for $3.5 million.
These Funds from Auchi's loan helped finance a complex series of transactions between Rezko and Democratic Presidential candidate Illinois Senator Barack Obama involving the 2005 purchase of Obama's Chicago mansion and Rezko's purchase of an adjoining landlocked parcel.Rezko claims he paid "full market price" and Obama apparently received a "discount" of several hundred thousand dollars for his parcel. Rezko then improved his parcel to benefit Obama.Instead of handing cash to Obama, Rezko handed Obama a preferential price for property.
This is the same form of "honest graft" and preferential treatment that sent former Illinois Governor Otto Kerner to jail over 30 years ago, see United States v. Isaacs, 493 F.2d 1124 (7th Cir. 1974).The Chicago Sun-Times recently reported that Mr. Rezko, around the same general period he was wheeling with Obama, also provided a preferential price for a property purchase by U. S. Representative Luis Gutierrez.
Instead of transferring cash to buy influence, Rezko was engaging in structured property transactions and preferential treatment of public officials to confer significant financial benefits on them, far above the legal limits of any legitimate political contribution permitted by federal law.
Rezko was a key early-money fund raiser in Obama's state Senate campaigns. and Rezko's relationship with Barack Obama goes back to at least 1990, when Obama's law firm did work relating to a Rezko housing development. Rezko as a major mob figure is not known for civic-mindedness or desire for good government.
At a March 3 news conference in San Antonio, Texas, Chicago-based reporters peppered Obama with some of the questions the national news corps has avoided for over a year. Obama claims he had already answered the questions in the Chicago media. He said: "These requests, I think, could just go on forever. At some point, what we need to try to do is respond to what's pertinent."
Dana Milbank of the Washington Post wrote:"Reporters, however, had a different idea of what was pertinent, and the questions about Rezko, NAFTA and other unpleasant subjects continued to come. An aide called out 'last question,' and Obama made his move for the exit -- only for reporters to shout after him in protest. 'C'mon, guys,' he pleaded. 'I just answered, like, eight questions.'"Sources: Barack Obama, Tony Rezko,
