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Judicial Watch • Obama Has Same Corporate Insiders He Regularly Blasts

Obama Has Same Corporate Insiders He Regularly Blasts

Obama Has Same Corporate Insiders He Regularly Blasts

JUNE 09, 2008

Barack Obama campaigns with promises of change and he regularly blasts corporate insiders yet a high-ranking campaign advisor and top fundraiser has received millions of dollars in the sort of highly questionable loans that the Illinois Senator blames for infecting the economy and creating a home foreclosure crisis.

A major newspaper broke the story over the weekend that contradicts Obama’s infamous change rhetoric and ardent critiques of well-connected corporate insiders who get perks that most Americans cannot even fathom. It turns out that the bundler (committed to raising at least $100,000) who is in charge of finding Obama a running mate has some serious skeletons in his closet.

Longtime Democratic Party power James Johnson, got at least five real estate loans—at rates below market averages—worth more than $7 million from Countrywide Financial Corp. through his close friend, Countrywide chairman and executive officer Angeleo Mozilo. In his nationally televised change speeches, Obama has denounced these types of insider perks and blamed them for infecting the economy and hurting hard-working Americans.

In fact, during one of his animated pep rallies in Pennsylvania Obama specifically criticized Countrywide’s CEO for getting millions of dollars in bonuses while people were at risk of losing their homes. “What’s wrong with this picture?” the senator asked a pumped-up, rowdy crowd. It turns out that the answer is a prominent part of his campaign.

This is hardly the first time that Obama’s illusion of a “squeaky clean” image has been tainted. One of his top political fundraisers and close friends, a shady slumlord named Antoin Rezko, was recently convicted for taking huge kickbacks on government deals. The chairman (Hatem El-Hady) of an Islamic “charity” shut down by the U.S. government for funding Middle Eastern terrorists is one of Obama’s top fundraisers and the senator tried steering millions of federal dollars to his wife’s employer and the company of a top campaign donor.

Yet Obama assured Americans early in his campaign that he was the only presidential candidate not corrupted by Washington politics. The undisputable facts clearly contradict this.

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