Subsidized Loan Reported for Obama Home

Further chipping away at his “different kind of politician” image is a Washington Post report that Barack and Michelle Obama received a below market loan from the Northern Trust.

“The Obamas had no prior relationship with Northern Trust when they applied for the loan,” the Post added.

It “could have saved him $300 a month,” the paper reports, “compared with the average terms offered at the time in Chicago.”

“Around the same time, the University of Chicago Hospitals promoted Michelle Obama to a vice president and more than doubled her pay, to $317,000,” the paper noted.

The bank’s political action committee also donated “$71,000 to Obama, according to the Center for Responsive Politics” since 1990.

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The photo of U.S. Senator Barack Obama comes from his campaign web site.

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