February 25, 2009, - 2:06 pm

TMZ: Barack Silent on Luxe Parties by Bank Who Gave Him Unusually Low Mortgage Rate

By Debbie Schlussel
For all his talk at last night’s speech to Congress and the nation about how lavish parties, planes, and perks of company CEOs would end, Barack Obama remains silent about the luxe parties of Northern Trust, the bank that gave Obama a lower-than-the-little-people interest rate on his Rezko Mansion loan.
He gave a “no comment” to TMZ:

We’ve been calling the White House for the last day, trying to get a reaction from the Prez on our story about the lavish parties Northern Trust threw in L.A. last week. We finally got a statement back — “No comment.”
Remember, this is a bank that got $1.6 billion in bailout money and blew a wad of cash paying Sheryl Crow, Chicago, and Earth, Wind & Fire. And then there were the dinners, the Tiffany gift bags, the fabulous cocktail parties — all from the bank that laid off 450 workers in December.

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Obama was under fire for a mortgage he got from Northern Trust back in 2005. Obama got a 5.625% rate, which was lower than the going rate of about 6%. The Federal Election Commission recently ruled no laws were violated and the rate was in line with other mortgages.
But “no comment.” Really?

Yup, really. That’s the Obama way: Do as I say, not as I do. Hypocrisy We Can.

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3 Responses

I have not them recently, but months ago there were rumors that Fitzgerald was investigating this and a witness (possibly the State Treasurer) had already flipped on Obama.
It could be that Blagojavich knows about this and is already “singing” to get a better deal.

i_am_me on February 25, 2009 at 7:49 pm

It is sad the real journalism is coming from TMZ. We are so screwed!!

californiascreaming on February 25, 2009 at 9:12 pm

Of course, with so many in the media getting jobs in the Obama administration, media coverage has degenerated into broadcast and/or published job applications. TMZ showing the way to the Mainstream Media. Whouda thunk it?

mondoredondo on February 28, 2009 at 8:16 am

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