Will there be any backlash for Barack? Probably not since these charges are unrelated to anything that Barack ever had anything to do with, but do know that people will try to bring this up in the coming week.

From Chicago Tribune:

Antoin “Tony” Rezko, a key fundraiser for Gov. Blagojevich and other Illinois politicians, was arrested early today by federal agents after prosecutors alleged he had violated terms of the bond in his fraud case.

“Tony Rezko was arrested without incident at his home in Wilmette,” FBI spokesman Tom Simon said. “It was pursuant to a warrant issued following a government motion to revoke his bond.”

Rezko appeared briefly this morning before U.S. District Judge Amy St. Eve, who is to preside over his fraud trial next month. Another hearing will be held at 12:30 p.m. today; Rezko remains in federal custody.

Rezko has pleaded not guilty to charges that he joined with another major political fundraiser, businessman-attorney Stuart Levine, to shake down money management companies wanting to invest state pension funds.

Rezko is charged in a separate case with defrauding the General Electric Capital Corp. out of $10 million.

Now Obama has already donated $40,000 of Rezko’s money to charity, but ABC says that there’s another $100,000 floating around in Obama’s coffers that’s linked to Rezko. I wonder if the campaign is going to donate that to charity too. They probably should to get rid of this story once and for all. This isn’t another Norman Hsu situation, but you never know how these stories grow when certain elements start spinning them.

I missed this before I posted. Obama will return all the money…

Sen. Barack Obama today vowed to return all of the contributions raised with help from his embattled early supporter, Chicago developer Tony Rezko.

The commitment, made during an appearance on ABC’s “This Week with George Stephanopoulos,” puts new pressure on the Illinois senator to determine exactly how much Rezko has raised for his various political campaigns. Recent published reports suggest that while Obama has returned some of the money, he has continued to hang on to a considerable amount.

“What we’ve done is we’ve traced any funds that we know of that we think were connected to him, and if there are other funds that were connected to him that we’re not aware of, then we will certainly return them. It’s in our interest to do so,” Obama said.


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