Whoa. The Boston Globe has a devastating article out on the Senator from Hyde Park. (via Ace) An excerpt:
As a state senator, the presumptive Democratic presidential nominee coauthored an Illinois law creating a new pool of tax credits for developers. As a US senator, he pressed for increased federal subsidies. And as a presidential candidate, he has campaigned on a promise to create an Affordable Housing Trust Fund that could give developers an estimated $500 million a year.
But a Globe review found that thousands of apartments across Chicago that had been built with local, state, and federal subsidies — including several hundred in Obama’s former district — deteriorated so completely that they were no longer habitable.
Grove Parc and several other prominent failures were developed and managed by Obama’s close friends and political supporters. Those people profited from the subsidies even as many of Obama’s constituents suffered. Tenants lost their homes; surrounding neighborhoods were blighted.
As they say, read the whole thing. Hillary must be wondering why she couldn’t dig this stuff up. What’s amazing is how this story includes just about everyone in Obama’s life. Another example:
In 2000 Davis asked the nonprofit Woods Fund of Chicago for a $1 million investment in a new development partnership, Neighborhood Rejuvenation Partners. Obama, a member of the board, voted in favor, helping Davis secure the investment.
Davis is Obama’s former boss. The Woods Fund is the nonprofit that has terrorist Bill Ayers as a board member. And now they’re involved in a real estate project that’s a disaster?