Apr 23, 2007 11:06 pm US/Central
Obama Rejecting Criticism On Work With Tony Rezko
Chicago Sun-Times Alleges Obama Helped Rezko Win Taxpayer Subsidies For Housing Rehabs
by Mike Flannery
CHICAGO (CBS) ―
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A Chicago Sun-Times article alleges a strong connection between Sen. Obama and now-indicted developer Tony Rezko.
CBS
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Sen. Barack Obama (File)
CBS
Illinois Sen. Barack Obama was on Monday night rejecting a front-page story in the Chicago Sun-Times that said he helped indicted real estate developer Tony Rezko win taxpayer subsidies for housing rehabs that later failed.
As CBS 2 Political Editor Mike Flannery reports, Obama told Chicago reporters that the Sun-Times story left a series of false impressions, beginning with a headline that portrayed Rezko as his patron and someone for whom Obama did significant legal work.
"I worked for five hours over the course of six years during which our firm was representing, not primarily Tony Rezko, but the non-for-profits trying to set up affordable housing in the district," Obama said.
And while the Sun-Times refers to dozens of housing rehab deals and to $43 million in taxpayer subsidies that were collected by Rezko-connected companies, Obama said he worked on just four of those housing rehabs, and all he did was to create a legal corporate joint venture.
"We set up the structures and that was the end of it," Obama said.
Sun-Times investigative reporter Tim Novak asked Obama how he could not have known that many Rezko buildings were horrible slums.
"My point is the implication is that we were out there facilitating these kinds of practices, and that just wasn't the case," Obama said.
The Sun-Times promises more in Tuesday's newspaper.
Earlier Monday, Obama delivered a speech on foreign policy declaring that as president he would double to $50 billion American foreign aid, and would add 92,000 more soldiers to a military that he said is stretched way too thin.
(© MMVII, CBS Broadcasting Inc. All Rights Reserved.)
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