Wednesday, March 07, 2007

Obama stock deals raising eyebrows

Once again, the New York Times has an unfavorable story about Barack Obama.

Unlike yesterday's story about Obama dis-inviting his pastor from his presidential announcement, today's entry either involves brilliant investigating reporting, or a well-informed source ratting out Illinois' junior senator.

I believe it's the latter.

Roger L. Simon in his blog writes:

If it's the Clintonistas - and their finger prints can be shown - we are off to the races in one of the bloodiest campaigns of all time.

Here's what the New York Times discovered, uh, well, wrote about:

Less than two months after ascending to the United States Senate, Barack Obama bought more than $50,000 worth of stock in two speculative companies whose major investors included some of his biggest political donors.

Kate Phillips and The Times's politics staff report on the latest political news from around the nation. Join the discussion.

One of the companies was a biotech concern that was starting to develop a drug to treat avian flu. In March 2005, two weeks after buying about $5,000 of its shares, Mr. Obama took the lead in a legislative push for more federal spending to battle the disease.

The most recent financial disclosure form for Mr. Obama, an Illinois Democrat, also shows that he bought more than $50,000 in stock in a satellite communications business whose principal backers include four friends and donors who had raised more than $150,000 for his political committees.

The friends and donors according to the New York Times are: George W. Haywood and his wife Cheryl, Tejas Securities chairman John J. Gorman, and Jared Abbruzzese, a New York businessman being investigated by the FBI in a state government corruptin probe.

The Times didn't bring up the name of Tony Rezko, but it did discuss the complicated real estate deal Obama made with the since indicted Illinois political insider--and longtime Obama donor.

It's a significant hit against Obama--not a fatal one, but it further undermines his self-created reputation that he's above the routine sleaze of big-time politics.

Related posts:

More Obama and Rezko

Obamas and Rezkos no longer neighbors

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