Appearing in tomorrow's paper is a piece by Joe Stephens titled "Obama Got Discount on Home Loan" which is already being torn apart. It hasn't even made its way to press.
The campaign released the loan documents.
Basically, the writer seems to find an issue with the 5.625 rate the Obamas got from Northern Trust to mortgage their house.
And of course, Rezko is mentioned. Though he has no relation to the story. Dang, even less to report! As if that stops Stephens from bringing it up...
Take a look at the comments. The story is being debunked in a very lively manner which will never make the airwave coverage, so make sure you check it out.
I don't recall WaPo covering John McCain's tax problem in LaJolla, Ca in this way.
Share a favorite comment? Of course!
barb_r_us:
After a search of historical mortgage rates I found a range of 5.57% to 5.95 in the period Nov 04 thru March 05. What rate did Obama get, 5.65%? OMG, what a scandal!
Coming on the heels of the 'Obama is more white than black' comment, WaPo seems to be feeling the cutbacks a bit too soon.
The Washington Post also features a segment where readers can ask them questions related to their coverage, questions about upcoming or current events, etc.
Here are a few from today's Post Politics Hour transcript:
"Prince William County, Va.: Obama's house and surrounding land seems to have been purchased under shady circumstances at best. What land did Obama purchase from his neighbor, and was a fair market value paid, or did he receive another sizable discount?
Michael Abramowitz: I have been getting a number of questions about this, but I am afraid I can not offer anything informed about this beyond what was in our story this morning. Let me pass on a sample of the comments. "
"New York: Michael, I realize that politicians who get special mortgage deals deserve scrutiny, but it seems that we're down to deciding whether to vote for the guy with the million-dollar mortgage or the guy with the millionaire wife who doesn't need one. Geez. Do you think this latest mortgage story will wound Obama, or just make him uncomfortable for a while. (I got the same rate on my mortgage, by the way, though the amount is a tiny fraction of his.) Thanks for the chat.
Michael Abramowitz: Here's one perspective on the Obama loan. "
"Long Island, N.Y.: Are we now to the point in our political discourse where getting the lowest mortgage rate possible is somehow nefarious? Apparently the rates in 2005 were in this ballpark, so what's the deal? I could understand the concern if his mortgage rate was 2 percent when the market was 6%, but this does not appear to be the case. For example, I bought a house in 2004 in the New York area (the mortgage was smaller but still a jumbo, with lower income) and still managed to keep my rate under 6 percent -- the MIRS listed the national rate when I bought (February of 2004) at 5.63, and I paid a quarter point higher with no points. Obama better not bring his Consumers Report with him to haggle at Best Buy for a new HDTV around you guys!
Michael Abramowitz: And another. Thanks. "
"Chicago: I know you cannot comment on the article about Sen. Obama possibly receiving a deal only for VIP Senators on his home mortgage, but could you comment on the timing of this hitting the national press? This story first hit the Chicago media some time ago when it was disclosed several senators -- including Obama -- had received these lower rates. Now that Obama is the nominee, it suddenly becomes a national issue. Where was the national media on this issue before Obama won the nomination?
Michael Abramowitz: I don't think I can help you out here except to say that it is not surprising to me that the local press would pick up something about their own senator--and then the national press come along later to examine the issue when that senator becomes the presidential nominee.
I am afraid I am out of time: Thanks for all the good questions. Cheers. "