Reply #21: The BIG STORY!!!!!!

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Obama Describes Developer Deal as a Mistake

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By JEFF ZELENY
Published: March 15, 2008

WASHINGTON — Senator Barack Obama said Friday that he had made repeated lapses of judgment in dealing with an indicted Chicago real estate developer, Antoin Rezko, and acknowledged that Mr. Rezko had raised more money for his political campaigns than he had previously disclosed.

Mr. Rezko, who is on trial on federal corruption charges, had raised as much as $250,000 for Mr. Obama during his first three political races. Previously, Mr. Obama’s campaign estimated that Mr. Rezko had raised about $150,000 for him.

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After previously declining interview requests to talk extensively about Mr. Rezko, the Obama campaign changed its strategy on Friday and talked at length with The Tribune.

Mr. Obama told the newspaper that when he asked Mr. Rezko about reports of his questionable political dealings in 2005 when he bought the house, Mr. Rezko dismissed his concerns. “My instinct was to believe him,” Mr. Obama said.

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Mr. Rezko, who met Mr. Obama in 1991, contributed to his campaign for the Illinois Senate in 1995 and his re-election campaigns. He also raised money for Mr. Obama’s Congressional race in 2000, but not his presidential campaign.

Isn't a big deal!