The conservative public interest group Judicial Watch has filed ethics complaints aleging that Sen. Barack Obama (D-Ill), the presumptive Democratic presidential nominee, broke the rules when he accepted a discounted deal on a 2005 mortgage loan, as we reported last week.
This was a sweetheart deal that benefited Obama to the tune of about $125,000.
The Washington Post reported on July 2 that Senator Obama received a 5.625 percent below-market-rate $1.32 million mortgage from Northern Trust in 2005 when he purchased a restored Georgian mansion in Chicago.
The interest savings over the life of the mortgage for this Senator, as opposed to the average rate “normal” people get, would add up to nearly $125,000.
We ask, was this “sweetheart” deal either an illicit “gift” to the senator or a disguised campaign contribution in violation of federal law? You decide.