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Barack Obama -- No I Won't!

2/25/2009 1:52 PM PST BY TMZ STAFF

Barack ObamaWe've been calling the White House for the last day, trying to get a reaction from the Prez on our story about the lavish parties Northern Trust threw in L.A. last week. We finally got a statement back -- "No comment."

Remember, this is a bank that got $1.6 billion in bailout money and blew a wad of cash paying Sheryl Crow, Chicago, and Earth, Wind & Fire. And then there were the dinners, the Tiffany gift bags, the fabulous cocktail parties -- all from the bank that laid off 450 workers in December.

Obama was under fire for a mortgage he got from Northern Trust back in 2005. Obama got a 5.625% rate, which was lower than the going rate of about 6%. The Federal Election Commission recently ruled no laws were violated and the rate was in line with other mortgages.

But "no comment." Really?



235 COMMENTS

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46.

Bex    

He is a horrible president already! And I voted for him!

2010 days ago
47.

Disgusting    

Where were the "legit" news sources? Where was Congress? It took TMZ to show what's still going on, and that is probably a big embarrassment

2010 days ago
48.

She is hot    

Kim,

Keep posting please!! Again a liberal that makes me laugh my head off with their stupidity. Recovery.org woohoo. I work my butt off everyday and all I am going to get is roughly 15$ extra a week!! Woohoo, I can get an extra McDonalds meal. It would almost be better for me and my family to go on unemployment and feed like leeches off the rest of those "stupid" people like myself who pay taxes!!!! He gonna cut the deficit in half ?? REALLY He just passed a TRILLION $ package so full of ear marks and last night he says there is "no earmarks". Now there is another package coming up that is for 410 Billion more $s. My grandkids kids will be paying for this!!! If OBAMA breaths, he lies and liberals lap it up!!

2010 days ago
49.

pam    

That was George Bush's bail out. Don't blame this on the Democrats. As for the mortgage rate, big deal. I got the same rate at the same time. Rates are negotiated and the better your credit rating the better your deal. I'm guessing Mr. Obama was a pretty good credit risk.

2010 days ago
50.

Rory    

I don't like that he attended this party, but what kind of response did you expect? Just report the story and don't act suprised that he didn't comment. Yes, he went to the party and based on his lack of response, no, he doesn't regret it. End of story. Take it as you wish and move on.

However, titling the story "No I Won't!" is misleading and is a total misquote. It's stuff like that which validates his refusal to give you a statement - you clearly and directly made up your own false quotes.

2010 days ago
51.

JC    

TMZ has it wrong. Read this article from a credible news source, the Wall Street Journal.
http://online.wsj.com/article/SB123552856711566075.html

2010 days ago
52.

Lord Xenu    

Obama cant talk about Wall Street excesses - he got tons of campaign money from the bankers on Wall Street like nearly $1 million from Goldman Sachs. The one that has me puzzled is US Government $479,306. Obama refused Federal matching funds, so why did the US Government contribute $479,306?


Barack Obama (D)
Top Contributors
This table lists the top donors to this candidate in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organization's PAC, its individual members or employees or owners, and those individuals' immediate families. Organization totals include subsidiaries and affiliates.

Because of contribution limits, organizations that bundle together many individual contributions are often among the top donors to presidential candidates. These contributions can come from the organization's members or employees (and their families). The organization may support one candidate, or hedge its bets by supporting multiple candidates. Groups with national networks of donors - like EMILY's List and Club for Growth - make for particularly big bundlers.

University of California $1,201,178
Goldman Sachs $955,473
Microsoft Corp $798,049
Harvard University $789,560
Google Inc $782,964
Citigroup Inc $653,468
JPMorgan Chase & Co $646,058
Stanford University $568,566
Sidley Austin LLP $565,788
Time Warner $544,601
National Amusements Inc $541,285
Wilmerhale Llp $524,292
IBM Corp $515,249
UBS AG $513,919
Skadden, Arps et al $505,774
Columbia University $503,566
Morgan Stanley $485,823
US Government $479,306
Latham & Watkins $461,511
University of Chicago $457,735

2010 days ago
53.

mer3pt0    

Heelllllloooo People! , that was the money from the Bush era!!! Not Obama! should the bank have spent that NO, was it Obama's fault Hell NO!! You want to make negative comments, get your facts straight on where the money come from!!! TMZ, I would stick to your reporting of stupid celebs and avoid trying to be real reporters!

2010 days ago
54.

tobadsosad    

Sorry to burst your bubble TMZ, but why the hell would Barack the president of the United Staes feel he needs to respond to a gossip site, Hell I wouldn't have any had my folks say no comment, I would not have acknowledged you at all!!!!!

2010 days ago
55.

TT    

Poor Kim, You are delusional. The DEMS created this banking mess. The Dems in Congress durring the Clinton era deregulated the banks and forcing them to pump billions of $$ into mortages for the "poor" b/c it was the fair thing to do. Forget about if they could afford it. Yes the Bush admin lent out $$ with no strings attached b/c the DEMS push to deregulate the banks eliminated how the $$ would be passed out.
And NorthTrust DID NOT ASK THE GOVT FOR $$, THE GOVT DID MAKE THEM TAKE IT!!!!

RECOVERY.ORG IS A SHAM AND SPILLS NOTHING BUT LIES

2010 days ago
56.

kalisto    

TMZ, you gurys are devoid of any knowledge of the Mortgage industry apparently. Anyone, with decent credit can get any interest rate they want. A person with could credit can get an interest rate of 5.625% by only paying 2.5% in points. When I worked as Mortgage officer for Eloan.com I sold 5.625% Mortgages all day everyday. So it's fallacious and it makes TMZ look ignorant when you try to impuge some nefarious actions are going on because someone got a rate of 5.625%.

2010 days ago
57.

Kemi at Impaired Stars Canada    

Michael Steeles 2012!

2010 days ago
58.

Borat    

Here's the best part about Northern Trust getting that bailout money:
THEY NEVER EVEN ASKED FOR ANY!

Get used to Chicago politics... it works in mysterious (and nefarious) ways.

2010 days ago
59.

jeezlouise    

he is just a big phony- like the rest- ripping us off and paying the banks for doing a bad job. Crooked as the rest and only cares about press and hearing himself talk. His wife now looks like she is spending big at Neimans while my pay is cut 20%- Its sickening- Take your money out of the corrupt banks and tell them to F-off. Obama is no different- His publicist is the only reason he is there- Its irresponsible for our citizens to have elected a nobody without experience. Everything he says is a generalized, bunch of fluff. So, do you feel better now?

2010 days ago
60.

Real American    

I bought a house around that time, and also got a rate of 5.625%. People with good credit get a better rate. Are you really going to hold it against him that he pays his bills? We could use somebody like that in the White House for a change.

2010 days ago
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