Last July, Sen. Barack Obama, D.-Ill., gave a speech to the Urban League and boasted of his efforts in 2001 to help some African American-owned investment firms in Chicago get a larger share of business with Illinois state pension funds. Within six months, they raked in about half a billion dollars worth of business.

But, according to ABC News, “what he did not say in his speech was that the owner of one of the investment firms, John Rogers of Ariel Capital, is a principal campaign fundraiser. Nor did he reveal that employees of the firms he helped have since contributed to or helped to raise more than $765,000 for his campaigns, according to campaign documents. Nor did he mention that two of the firms have since been dismissed by the state pension fund for ‘underperformance.’”

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

To read the entire article from ABC News, link here:

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