BURNING DOWN THE HOUSE

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HOW THEY FINALLY GOT A PIECE OF THE PIE: OBAMA GETS SWEETHEART MORTGAGE LOAN

Now they up in the big leagues...gettin' their turn and bat...

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.

In Obama's case, he received a lower rate than the average offered at
the time in Chicago for similarly structured jumbo loans. He secured his final
mortgage commitment on June 8, 2005, and during that week, rates on similar
loans for which information is available averaged 5.93 percent, according to HSH
Associates, which surveys lenders. Another survey firm, Bankrate.com, placed the average at 6 percent.

"It's certainly safe to say that this borrower did better than
average," said Keith Gumbinger, an HSH vice president, noting that consumer rates
vary widely. "It's a good deal."

The Obama campaign called the rate "consistent with Northern Trust
policies, and it reflected the base rate set for that period discounted to
address the competition for the account and other opportunities, such as
personal financial services, that the relationship would bring to Northern
Trust."

When the Obamas secured the loan, their income had risen dramatically.
Obama assumed his Senate seat in January 2005, with an annual salary of
$162,100. That same month, Random House agreed to reissue an Obama memoir, for which it
originally paid $40,000, as part of a $2.27 million deal that included two
future nonfiction books and a children's book.

Around the same time, the University of Chicago Hospitals promoted Michelle Obama to a vice president and more than doubled her pay,
to $317,000.

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.

Fish don't fry in that kitchen.

OBAMA THROWS HIS COUNTRYWIDE CONNECTION UNDER THE BUS

Yet another person who turned out not to be the person Obama once knew is chucked under what has become, a very large bus:

Obama and his campaign staunchly defended Jim Johnson against the charge that his ties to troubled mortgage lender Countrywide disqualified him from sitting on Obama's vice presidential search committee, but Johnson just pulled the plug: He resigned as chairman of the steering committee just now.

“Jim did not want to distract in any way from the very important task of gathering information about my vice presidential nominee, so he has made a decision to step aside that I accept. We have a very good selection process underway, and I am confident that it will produce a number of highly qualified candidates for me to choose from in the weeks ahead. I remain grateful to Jim for his service and his efforts in this process,” Obama said in a statement.

Johnson also put out a statement.

"I believe Barack Obama's candidacy for president of the United States is the most exciting and important of my lifetime," he said, according to a Bloomberg report. "I would not dream of being a party to distracting attention from that historic effort."

Can you imagine what Obama's cabinet is going to look like?

Read this previous report.

THE HYPOCRISY OF OBAMA AND THE OBAMAMANIACS AND THE COUNTRYWIDE FIASCO

Background:

The Republican National Committee (RNC) released a statement Monday about Democratic Presidential Candidate Sen. Barack Obama's (D-IL) ties to a campaign advisor who received what they categorize as “special loans” from Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo.

The claims are related to Jim Johnson, who is one of Obama's top advisors and the former Chief Executive Officer of Fannie Mae. The RNC quotes a Wall Street Journal article in its statement about the connection. The Journal article suggests that Johnson was one of a few of Mozilo's friends who received special loans due to their connections. The rates for at least two of the loans were described as “below market values” and Johnson is said to have taken out loans totaling $7 million.

“Barack Obama routinely rails against lobbyists and corporate insiders, yet his campaign is stocked with both,” the RNC's Press Secretary Alex Conant said. “Now it turns out that the man leading his vice presidential selection team is receiving highly questionable loans. With millions of Americans struggling to pay their mortgages, it raises serious questions about Obama's judgment when we learn members of his campaign leadership are receiving favors that the average American would never get.”

More background:

About James Johnson: He's part of the permanent government of this country, a long-time Democratic fixer (Mondale and Kerry campaigns), former CEO of Fannie Mae, and as such a big buyer of Countrywide loans. He's a guy who sits on a bunch of corporate boards, etc.

Outrage: "That reeks most high," said Bonnie Russell, a public relations specialist and vocal critic of Mr. Mozilo, according to the Sun. "Where's the 'change to believe in' if they're playing the same old game using the same old players?"

The sanctimonious Obama, before he was called on his bullshit:



Man...He sure sounded angry about Countrywide...In a stuttering and babbling kinda way. And note the boos from the Obamamaniacs.

Well...here's what the Obamamaniacs were saying before Obama's outrage and hypocrisy blew up in his double-speaking face (taken from Obama's community forum on his own website):

You know who Countrywide is...the biggest predatory mortgage rapists of them all.So you can bet your bottom dollar if Penn is tied to them...at the very least,the Clintons knew about it.

Hillary Clinton's Chief Strategist is connected to Countrywide Financial, raper of the Black community in the mortgage loan crisis, and Blackwater, raper of the public tax dollars that have this country in so much debt because of their murderous deeds....Why aren't we yelling this from the roof tops!! Why is Obama sitting on this?

And here's Obama's take now. He doesn't sound nearly so sanctimonious or outraged. He just sounds like a retard:



And in case you weren't paying attention...The Cliff notes:



Hey...Obamamaniacs, why aren't you yelling from the roof tops!!?? Why is Obama just sitting on this? Perhaps it's because your boy now has to eat his own bullshit. Just like you've been eating it.

This is not the Countrywide Obama once knew.