Bulletin: Obama Campaign Goes Into DEBT
October 20, 2012
Economy hard on the campaign too???? Or are donors just closing their wallets?
When things go bad….they REALLY go bad.
There’s something fishy going on with the finances of the Obama campaign. Earlier this month the Obama team announced that $181 million in mostly SMALL, unaccounted for donations showed up during September, making the President a bigger fundraiser than Mitt Romney.
Note that the media has said NOT ONE WORD about the fact that apparently 80% of the donations were “unreportable.” Today, this story from the Washington Free Beacon which alerts
us that the Obama campaign has had to go to one of its biggest donors, Bank of America, and TAKE OUT A LOAN. Incidentally, B of A just announced its own plan to lay off 16,000 workers before Christmas:
Follow @TKC_US“Obama For America took out a $15 million loan from Bank of America last month, according to the campaign’s October monthly FEC report. The loan was incurred on September 4 and is due November 14, eight days after the election. OFA received an interest rate of 2.5% plus the current Libor rate.
Buffet has invested in Bank of America and Bank of America has invested…in OBAMA.
Warren Buffett, Obama donor and namesake of the infamous “Buffett Rule,” invested $5 billion in Bank of America last year in an effort to help the ailing financial institution. Last month, two weeks after OFA took out the loan, Bank of America announced a plan that would lay off 16,000 workers by the end of the year.
Obama has a complicated relationship with Bank of America. The bank contributed $20 million toward the cost of the Democrat National Convention earlier this year. Bank of America stadium, home to the Carolina Panthers, was supposed to host Obama’s
Money troubles started to emerge at the convention. Obama’s super speech was moved…to a smaller venue. Convention was shortened by a day.
acceptance speech. At the last moment, the campaign switched to a significantly smaller venue. The campaign claimed that an impending storm would not allow the President to deliver his address. Many questioned whether move was made because the campaign was having trouble filling such a large stadium.
It is unclear why the first $1 billion campaign needed an extra $15 million for the final two months of the campaign.
Did Obama THROW the first debate..to send a message? I’m not working…if donors aren’t working?
http://freebeacon.com/obama-campaign-borrows-15m-from-bank-of-america/
So, I’m having trouble with the fact that B of A gives $20 million to the DNC and is now going to “lay off” 16,000 employees. In what universe does this make sense?
WE all have to realize one thing, Romney is not doing well in the polls, and among overall GOP, how can he win with out the full backing, the next four year Republicans need to get, someone that is appealing to everyone. the old way of thinking is dying.. enough with Newt and Ron PAUL, even though Ron Paul is the better man for the job. No one going to vote for an old guy, Fox won’t support ron paul and GOP does not support ron paul. GOP need a new face, someone who is open. the old way of thinking is costing the republicans, we are stepping backwards. Sad Sad Sad Day in life Obama going to get another 4 years.. when he shouldn’t ever got his first 4 years.. no we are handing him another 4 years… Republicans better start getting their act together, or I am going to have to move to Libertarian
Paul V.
I want BOA to lay off 16,000 of their vampires. They have done much to rape America and put good clients at risk. They are mean, vicious, predatory and evil. This is a bank that should have failed. I bet those 16000 jobs are here in America too, not India.
I don’t care where they are, a smaller BOA is much better than the monster we have now. This bank is in debt for 3/4 trillion dollars, why is it still here? Well, this is one reason why, to pay back their bailout.
Why doesn’t this article mention the fact that in Septmeber, Mitt Romney’s campaign was $11 million in debt after borrowing $20 million in August.
“The debt and borrowing sums were first reported by the National Review Online and confirmed by ABC News.”
“The campaign borrowed the money from the Bank of Georgetown, according to the report.”
http://abcnews.go.com/blogs/politics/2012/09/romney-reports-first-debt-of-campaign/
Another example of irresponsible, one-sided reporting.