Home > Barack Obama > Taxpayers Hooked for $43M, Thanks to Obama and Rezko

The winter of 1997 was a pretty brutal time. Excessively cold and, at times, unbearable. The residents of several apartment complexes in Barack Obama’s State Senate District, in Chicago’s Englewood neighborhood, were shivering and huddled together for warmth. Because they had no heat.

But why would they not have any heat when it was just four years before then that Tony Rezko, indicted Obama friend and fund raiser, was given $43M in loans from Chicago Taxpayers to rehab 15 of their 30 section 8 apartment buildings.

What does that have to do with Barack Obama? He was an attorney at the law firm that secured the money for Rezko. Obama says he only did about 5 hours worth of work” that deal. Does he really expect us to believe that he only worked 5 hours on that deal for his long time friend, Tony Rezko?

Putting all that aside – how are the taxpayers on the hook for those loans? It is because after receiving the funding and supposedly rehabbing the buildings, Rezko defaulted on the loans and the buildings went into foreclosure.

Here is what the taxpayers of Chicago got for their Obama assisted loan for $43M:

Seventeen buildings ended up in foreclosure.

Six buildings are currently boarded up.

Hundreds of the apartments are vacant, in need of major repairs.

Taxpayers have been stuck with millions in unpaid loans.

At least a dozen times, the city of Chicago sued Rezmar for failure to heat buildings.

So you see, all you Obamies, this is who your messiah really is.

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