HIS "CHICKENS HAVE COME HOME TO ROOST"

Barack Obama faces new political embarrassment after an old friend and former fundraiser was found guilty yesterday of corruption. The conviction in Chicago of Antoin "Tony" Rezko on fraud, attempted bribery and money laundering charges prompted Republicans to raise concerns about Mr Obama's fitness for office. Rezko, 52, a Chicago property developer and former fundraiser for several politicians including Mr Obama, was found guilty on 16 of 24 counts. He had been accused of extorting millions of dollars in bribes and campaign donations in exchange for influencing the award of state contracts. Witnesses said Rezko demanded campaign contributions and bribes in exchange for jobs or state contracts. The defence presented no witnesses. He is due to be sentenced in early September, two months before the presidential election, but his lawyers said yesterday they were likely to appeal.

The Republican party's national committee said in a statement: "This is further proof that Obama's high-flying rhetoric is just that.... today's verdict and Obama's friendship with Rezko raise serious questions about whether he has the judgment to serve as president."

Who is Tony Rezko, and why should we care? Well, Rezko helped bankroll Obama in five election runs — for the state Senate, U.S. House and U.S. Senate. The savvy businessman with the North Shore mansion could bring in as much as $70,000 from political donors in one night. In the heat of a campaign, Obama said he sometimes talked strategy with Rezko daily. Then, during political down-times, Rezko was his lunch or breakfast companion, more concerned about Obama, his wife and daughters than with posing for snapshots with the senator disclosed that Rezko had raised far more campaign cash for him than previously known. He said he was “saddened” by his friend’s troubles but would be “disappointed” if Rezko ends up convicted.

For the first time, Obama said he was disturbed that Rezko had allowed low-income housing Rezko developed to fall apart. And he said that, although he had made a mistake in buying a piece of property from Rezko, when it was widely known that the developer was under federal scrutiny. The senator later admitted it had been "boneheaded" move. “Does it speak to a trend of mine? No.” Is Rezko still a friend? “Yes,” Obama said, “with the caveat that, obviously, if it turns out the allegations are true, then he’s not who I thought he was. And I’d be very disappointed with that."

The newly appointed Democratic Presidential candidate, Barack Obama had this reaction to the conviction of his erstwhile lunch buddy:

“I’m saddened by today’s verdict. This isn’t the Tony Rezko I knew, but now he has been convicted by a jury on multiple charges that once again shine a spotlight on the need for reform. I encourage the General Assembly to take whatever steps are necessary to prevent these kinds of abuses in the future.”