Blagojevich Deeply In Debt: Owes Over $1M In Legal Fees, Mortgage Payments

CBS 2:

A criminal complaint isn't the only problem Governor Rod Blagojevich and his wife have to deal with. CBS 2's Dorothy Tucker reports their financial future looks as dim as any political future.

According to published reports, when times were good for Governor Blagojevich and his wife, the couple made nearly a million dollars a year. Most of it was from Patti Blagojevich's real estate commissions. As of late, Patti's position as a fundraiser for a social service agency makes her only $80,000 dollar a year. Her salary combined with her husband's yearly salary of $177,000 is just over a quarter of a million dollars. That is not bad for most, but perhaps not good enough for the governor.

Cindy Canary is with a non partisan public advocacy group. She says the governor seems to be in a good deal of personal financial debt.

Blagojevich owes $750,000 in first and second mortgages on his Chicago home, another $150,000 on a Washington condo, and $500,000 in legal fees and if he decides to fight his latest legal problems, Canary says corruption cases can cost millions of dollars.

Read the whole story: CBS 2

Comments

[talkabout1]

From The Lipman Times (the new 24/7 Obama news site--so cool!):

Colbert Report Video of the Night

Rod Blagojevich's Birthday:

http://www.lipmantimes.com/?p=877

[cyoohoos]

Now it all makes sense

[harriettubman]

He and his wife didn't want to live in Springfield where the governor's mansion is. He flew daily from Chicago to Springfield, handing the bill to IL taxpayers. This guy is a joke.

[harriettubman]

What were these people doing with their money? For Pete's sake a million $ income?!!!!

[SabrinaFair]

Don't know how many here are from NYC and if so would remember a Queens politician by the name of Donald Manes.

Manes had gotten himself jammed up in a corruption probe. The media was all over him and his fellow politicians and constituents were calling for him to resign.

He didn't. Instead, shamed, deeply in debt, under investigation, and under attack in the media, he committed suicide in the basement of his Forest Hills home leaving his family and friends to shake their heads and wonder how this once respected politician allowed money to corrupt his life, and make him decide that his death was the only way out.

I hope that this story does not end the same way.

[wembakoy]

Let stand against corporation greed. This is a clip of 7 minutes and can not have all information. If you need more information then you need to visit the link below.

http://okonda.com/please_save_my_people.html

I did my part and you need to do yours if you really care about human lives.

Thanks

[sammy cole]

From Blago's debt list ... his defense can be to blame it on depression...the American Depression...other than that......I see no other defense.

[Okieborn]

Hey Now I understand !!
Will he get part of the bail out money ??
Blagojevich should make a quick call to Paulson !!!!!

[Bendersky]

I know the feeling. A quarter mil just doesn't go as far as it used to.

[inluvwkeitholbermann]

join the club, bIojob......most americans are struggling, too, and they don't engage in the kind of BS you tried to pull off

[stunsitfel]

Kind of makes Coleman look like a small timer..........

[oldleftcoastdude]

Puts him on a par with Jefferson down in Louisiana..

[Freedomscap]

They said: money was the root of all evil. Or was it: the love of money.

[lunchlady]

Another house of cards falling to the ground. Seems he felt like he should be able to live high even when the household income went down. Criminals describe not being able to resist what seems like easy money, even though they know the risks if they get caught. So he got caught finally.

Being honest and living within your means if somewhat dreary, as is not accumulating extra calories on your body. Staying solvent and staying healthy both require avoiding temptation on a continuing basis. But some people just can't resist- it makes them feel more important to get something for nothing, get more that other people are getting. Like Leona Helmsley attitude about paying taxes, some people feel being strictly on the up-and-up is for small timers.

[Freedomscap]

Overextended. Who refinances that much? Unless, emergency.

[KNadine]

Well, there you go. Give the guy a break. He needed a bailout like the rest of us common folk. Blago was just trying to pay the bills. LOL @ the pure insanitity of it all.

[johnnygoodwud]

their house is nasty looking. they took a cute cornerlot bungalow and tried turning it into a 'gov's mansion. he got into politics from his father-in-law, dick mell, also a shady character if you want my opinion. rob blago has always been 'out of his league'. he has very few friends, and i predict he'll rollover for fitz. the buzz around chi town is this is just the tip of the iceberg. keep an eye on the jackson's, both have lawyered up, and tony rezo is cooperating with authorities, and his sentencing has been postponed twice.

[oldleftcoastdude]

Now that's really, really interestin­g.......se­e...if you want to know what "the rest of the story" is, talk to the folks who live there. Thanks, Johnny...