Tag Archives: Obama doing to US what he did to Illinois

Obama John Glennon both damaged IL TRS, Teachers Retirement System, Glennon on TRS board, Glencoe Capri Capital, Obama doing to US what he did to Illinois

Obama John Glennon both damaged IL TRS, Teachers Retirement System, Glennon on TRS board, Glencoe Capri Capital, Obama doing to US what he did to Illinois

“Why did the Illinois Senate Health & Human Services Committee, with Obama as chairman, create and push Bill 1332, “Illinois Health Facilities Planning Act,” early in 2003, which reduced the number of members on the Board from 15 to 9, just prior to rigging by Tony Rezko and Rod Blagojevich?”…Citizen Wells

“Why did Patrick Fitzgerald and the US Justice Department wait until December 2008 to arrest Rod Blagojevich?”…Citizen Wells

“I believe I’m more pristine on Rezko than him.”…Rod Blagojevich

Obama, Blagojevich and their cronies used the citizens of Illinois, Teachers Retirement System, hospitals and taxpayer dollars for their own benefit.

John Glennon, one of the lesser known and underreported corruption buddies was recently given a slap on the wrist.

From the Chicago Tribune July 21, 2005.
“A one-time top adviser to former Gov. George Ryan was charged Wednesday with aiding and abetting an alleged fraud on a suburban Chicago medical school by acting as a middleman in a kickback scheme.

John Glennon, an influential Republican real estate consultant, helped conceal kickbacks totaling $700,000 paid by the owner of a construction firm, authorities charged. The construction firm won an $18 million contract to build an addition at the school.

The indictment alleged that Stuart Levine, then on the board of the Rosalind Franklin University of Medicine & Science in North Chicago and a friend of Glennon’s, extorted the kickbacks in 2001 as the price to win the construction contract.

To conceal the fraud, Jacob Kiferbaum, the construction firm owner, used a sham marketing contract to steer the kickbacks to Glennon’s consulting company, North American Capital Opportunities, until early 2004, the charges alleged.

Levine, a wealthy Republican insider, and Kiferbaum, who was also on the medical school’s board, were initially indicted in May for that fraud and other schemes. Glennon was added Thursday to the indictment. He was charged with three counts of aiding and abetting Levine in the one scheme.”

http://articles.chicagotribune.com/2005-07-21/news/0507210141_1_indictment-john-glennon-scheme

From Citizen Wells March 26, 2012.

“John Glennon, a former top aide to imprisoned former Gov. Rod Blagojevich, leaves the Dirksen Federal Building after his sentencing was continued on Wednesday, March 21, 2012. Glennon pleaded guilty and cooperated with authorities about his role in helping cover up kickbacks involving Stuart Levine under Blagojevich.

A federal judge in Chicago said Wednesday he has no intention of sending businessman John Glennon, a lesser-known figure caught up in the corruption scandal involving former Gov. Rod Blagojevich, to prison.

U.S. District Judge John Grady told Glennon he would delay his sentencing until April 9 and that he plans to sentence him then to probation and community service.”

https://citizenwells.wordpress.com/2012/03/26/obama-corruption-pals-in-news-john-glennon-gets-no-time-john-harris-and-alonzo-monk-sentenced-this-week-rep-aaron-schock-il-obama-ties-to-chicago-machine/

Connecting the dots.

What do Obama and John Glennon have in common aside from associations with Stuart Levine and other Chicago corruption figures?

Involvement with the IL TRS, Teachers Retirement System.

What else do they have in common?

They were both involved with the TRS in 2002 and 2003.

What is significant about these years?

2003: “Of the five funds, the one in the sorriest shape is the Illinois Teacher Retirement System, which provides the pensions for suburban and downstate teachers. Its ratio of assets to liabilities stood at a mere 52 percent last year, so poor that it was considered among the five worst-funded plans in the country.”

http://www.chicagomag.com/Chicago-Magazine/The-312/March-2011/Illinois-Teacher-Pensions-Always-in-Distress-Mode/

From the LA Times April 7, 2008.

In 2002, the year after Obama made the pitch, the Illinois Teacher Retirement System reported an 18% increase in assets managed by minority-owned firms. Ariel’s share grew to $442 million by 2005.

In 2006, after the federal investigation became public, the teacher pension board severed its relationship with Ariel, concluding that Ariel’s investment returns were insufficient.

http://latimesblogs.latimes.com/washington/2008/04/obamarezko.html

From the Common Conservative October 1, 2008.

“On Feb. 10, 2007, Senator Barack Obama launched his bid for the White House in Springfield, setting himself on a course that has become one for the history books. But Obama might not have made it even to the Old State Capitol Building that frigid day if not for a private meeting he had with friends and advisers in late 2002 as he was mulling a run for the U.S. Senate. In a South Side high-rise overlooking the lake, the junior state senator vetted his lofty political ambitions with a group of Chicago’s African American business elite that included Frank M. Clark Jr., Valerie B. Jarrett, Quintin E. Primo III, James Reynolds Jr., and John W. Rogers Jr.”
http://thecommonconservative.com/?p=161

From Citizen News June 15, 2010.
“Today, Tuesday, June 15, 2010, testimony in the Rod Blagojevich trial continues. Joseph Aramanda, with ties to Blagojevich, Rezko and Obama is expected to testify soon.”

“Rezko’s partner in the Rezmar development company, Daniel Mahru, is referred to as “Individual Z” in the indictment, and according to court filings, Rezko told Mahru that “$500 million” of TRS money was earmarked for their company. Mahru is reportedly cooperating with federal investigators.”

“In addition to lining their own pockets, the money gained through the scheme was funneled to the campaigns of Blagojevich and Obama. Prosecutors have identified two $10,000 payments that were made to Obama’s US Senate campaign through straw donors Joseph Aramanda and Elie Maloof, which originated from a kickback paid by investment firm, Glencoe Capital, to secure approval for a $50 million deal.
Aramanda and Maloof also each gave Obama $1,000 for his failed run for Congress in 2000. Once Obama became a US Senator, Aramanda’s son was granted a coveted intern position in Obama’s Senate office in Washington during the summer of 2005, based on a request which the Obama’s camp has admitted came from Rezko.”

https://citizenwells.wordpress.com/2010/06/15/blagojevich-trial-joseph-aramanda-testifies-soon-aramanda-linked-to-blagojevich-rezko-obama-open-thread-june-15-2010/

Perhaps you have not seen this.

“Glencoe Capital Partners

On a motion by Cynthia O’Neill, seconded by Stuart Levine, it was resolved:

To invest $25 million in Glencoe Capital Partners III, L.P. and invest up to $25 million to Glencoe Capital Institutional Partners III, L.P., subject to the satisfactory completion of contract and fee negotiations. Source of funds will be the TRS Cash Flow account.
Minutes – Board Meeting

August 15, 2003
Page 6

Roll call resulted in affirmative voice votes from Trustees Bruner, Cleveland, Glennon, Klickna, Leggett, Levine, O’Neill, Phalen, and Schmidt. Motion CARRIED.”

For more information about Obama’s impact on the TRS:

“In 2000, after losing a Congressional race, Barack Obama was looking to revive his political fortunes. And he soon found a springboard — a group of black entrepreneurs also trying to break out.

Month after month, Mr. Obama, then an Illinois state senator, showed up at the Chicago group’s meetings, listening to members’ concerns about the difficulties they faced in getting government and corporate business, and asking them what he could do to help.

And help them he did. Members of the group, the Alliance of Business Leaders and Entrepreneurs, say Mr. Obama checked into their problems and helped start a drive that enabled minority investment executives to win millions of dollars in business from the state’s giant pension funds.”

“Mr. Obama also recently pointed to his work on the Illinois pension issue as a model for what he would do as president to promote minority-owned companies.”

https://citizenwells.wordpress.com/2011/10/23/obama-role-in-corrupting-il-teacher-retirement-system-pensions-cellini-trial-2007-ny-times-article-where-is-tony-rezko-where-is-house-judiciary-committee/

 

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Illinois high school graduation rates slump, Obama legacy, Obama Ayers Chicago corruption cronies, Obama doing to US what he did to Illinois

Illinois high school graduation rates slump, Obama legacy, Obama Ayers Chicago corruption cronies, Obama doing to US what he did to Illinois

“Why was Obama promoting Capri Capital and other investment firms at the same time that Rezko, Levine and Cellini were shaking them down?”…Citizen Wells

From the Chicago Tribune October 31, 2011.

“Illinois high school graduation rates slump”

“Despite its academic struggles, North Chicago Community High School could count on at least one piece of good news: Students were getting their diplomas. The school reported a 90.3 percent graduation rate in 2010.

But in 2011, the figure plummeted to 50.2 percent, a dismal picture created by a new formula that more accurately tracks how many ninth-graders graduate within four years. The new method, required by the federal government, was used for the first time this year in Illinois, with sobering results: Across the state, about 75 percent of high schools saw small dips to big drops in graduation rates, causing educators to adjust to a new reality.

“I think the school probably felt like they were doing things right because we were at 90 percent,” said Eric Gallagher, new principal at the struggling North Chicago high school. “It just took someone else to look at it from the outside.”

The new graduation rates are among the dozens of figures released Monday in the annual School Report Card data that provide information about everything from test scores to teachers’ experience to how much taxpayers spend on their schools.

Parents won’t see the changes in graduation rates in their school report cards because the state reports only this year’s figure with no comparisons to the prior year. The Tribune’s online database (schools.chicagotribune.com), however, shows 10 years of rates in addition to the regular report card data.

Educators who have seen comparative numbers often reacted with a mixture of criticism, concern and confusion over the new graduation rate formula.”

“In Lake Zurich, district officials corrected their figure twice after initially reporting a 100 percent graduation rate for Lake Zurich High School. The problem stemmed from misunderstandings about applying the formula, according to district spokeswoman Jean Malek. She said the accurate graduation rate is 92.8, up from 92.5 the year before.

Still, Lake Zurich is in the minority of high schools showing an increase in its graduation rate this year. It’s also a high performer — among about 30 percent of the more than 600 Illinois high schools that posted a graduation rate of 90 percent or higher this year.

Only 18 high schools, including Chicago’s Northside College Preparatory High School, attained a 100 percent graduation rate this year, compared with almost 100 high schools that did so last year. The statewide graduation rate slid from 87.8 to 83.8 percent.

The numbers are significant because graduation rates are one of the most important barometers in education, research shows.

“Because high school graduation is a strong indicator of social and economic well-being, this provides important information on the most basic measure of education success in the population,” stated a 2009 study by the Consortium on Chicago School Research at the University of Chicago. The report also cautioned that calculating graduation rates is fraught with technical issues and that no method is ideal.

The search for a better way to gauge how many students were getting their diplomas on time bubbled up from state governments.

“There was no consistency previously, and state governors were very interested in knowing how their particular schools and states were doing on getting students through high school within four years,” said Ryan Reyna, an education program director for the National Governors Association Center for Best Practices.

In 2005, the governors association for the first time came up with a common way to calculate graduation rates across states, leading the federal government to draw from that work and draft rules in 2008 on a new graduation formula.”

http://www.chicagotribune.com/news/education/ct-met-grad-rates-1031-20111031,0,1934891.story

Just some of Obama’s contributions to education in Illinois.

October 23, 2011

“In 2000, after losing a Congressional race, Barack Obama was looking to revive his political fortunes. And he soon found a springboard — a group of black entrepreneurs also trying to break out.”

“In that push, Mr. Obama met with three state pension boards and introduced a bill on the executives’ behalf. He also worked closely with the state’s top legislative leaders to encourage the pension funds to increase the share of their investment portfolios managed by minority-owned firms. That share has risen to 12 to 20 percent now from 1 to 3 percent in 2000.”

“During this period, campaign finance records show, executives from Ariel, Loop and two other leading Chicago investment firms, Holland Capital Management and Capri Capital, sharply increased their donations to Mr. Obama’s State Senate campaign fund. And once he began his campaign for the United States Senate, they quickly became a fund-raising core that has carried over into the presidential race.”

https://citizenwells.wordpress.com/2011/10/23/obama-role-in-corrupting-il-teacher-retirement-system-pensions-cellini-trial-2007-ny-times-article-where-is-tony-rezko-where-is-house-judiciary-committee/

October 19, 2011

“Following Obama’s efforts, the Illinois Teachers’ Retirement System gave Ariel Capital $112.5 million to manage, and added hundreds of millions more over the next few years.”

“Three other minority-run firms — Holland Capital, Loop Capital and Capri Capital Partners — also saw hundreds of millions of assets turned over to them to manage after meeting with Obama and the state pension boards.”
“Cellini’s alleged crimes – essentially conspiring with others to force Capri Capital, also a real estate investment firm, and Thomas Rosenberg, a principal and part owner of Capri, to raise or donate substantial political contributions for Public Official A….”

https://citizenwells.wordpress.com/2011/10/19/william-cellini-trial-capri-capital-obama-connection-obama-arrest-prevented-by-corrupt-us-justice-department-where-is-the-house-judiciary-committee/

September 25, 2008

The Annenberg challenge was supposed to improve Chicago schools but instead funded controversial groups like Acorn. Stanley Kurtz filed a FOIA request and after evaluating the Annenberg Challenge records has written his findings. Here are some of the highlights:

■Obama had most of his executive experience while working at the Annenberg Challenge. Obama does not refer to this fact.
■Chicago schools were not improved by the Annenberg Challenge. The money was instead spent on radical groups.
■Apparently Ken Rolling gave Bill Ayers a heads up in a possible cover up scheme.
■Obama and Ayers were on a committee together that created rules and bylaws.

https://citizenwells.wordpress.com/2008/09/25/obama-william-ayers-annenberg-challenge-stanley-kurtz-cover-up-ken-rolling-tips-ayers-obama-and-ayers-on-committee-kurtz-foia-request-obama-executive-experience-obama-hides-truth/

2 links in the article above yield the following:

“During Obama’s time as Annenberg board chairman, Ayers’s own education projects received substantial funding. Indeed, during its first year, the Chicago Annenberg Challenge struggled with significant concerns about possible conflicts of interest. With a writ to aid Chicago’s public schools, the Annenberg challenge played a deeply political role in Chicago’s education wars, and as Annenberg board chairman, Obama clearly aligned himself with Ayers’s radical views on education issues.”

http://www.nationalreview.com/articles/225348/chicago-annenberg-challenge-shutdown/stanley-kurtz

Another Obama damaging article removed?

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http://www.chicagotribune.com/news/local/chicago/chi-obama-ayers-universitysep09-archive,0,1053585.story

Obama is doing to the nation what he did to Illinois education for many years.