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Thursday, March 06, 2008

More Obama and Rezko: Rezko In Debt $50 Million; How Did He Afford Obama Lot?

Accused Illinois fixer Antoin "Tony" Rezko is in debt by $50 million and relies on "family" handouts of $7,500 a month to pay monthly costs, according to a previously sealed court transcript reviewed by ABC News.

Rezko's bleak financial picture raises the question of how the Rezkos were able to buy a vacant lot adjoining the home of Sen. Barack Obama in 2005, at a time Rezko says he was already in deep debt.

Rezko also reveals in the testimony, before Judge Amy St. Eve on Jan. 16, 2007, that he already knew he was under federal investigation at the time of the land purchase and had hired a criminal defense attorney to deal with the "feds."

Obama says he sought Rezko's help because the house he wanted to buy in Chicago's Hyde Park came with an adjoining lot the seller wanted to sell at the same time.

Unable to afford it himself, Obama says Mrs. Rezko bought it for $625,000, and then later sold a strip of the lot back to Obama so he would have a larger yard. Obama says he paid Mrs. Rezko a fair market price.

According to the court transcript, Mrs. Rezko makes $37,500 a year.


Obama has defended Rezko's role as legal but says it was "a bone-headed mistake" to involve him in the deal.


This case is getting more and more bizarre. How is it possible to get $50 million in debt when you are living on family handouts and your wife makes $37,500 per year?

Who lends you that kind of money without collateral?

How can you be a "fixer" when you are broke?

$50 million is serious money and serious money attracts serious people who want serious things done. And Obama is tied in to this and to some 60's bombers. This is not just Chicago politics, it's something much worse than that.

We may have a real case - not a movie - of a foreign power or some criminal syndicate trying to buy the presidency.

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