Ironic that after several years of bashing Wall Street a campaign that has already raised in excess of a billion dollars is spending what is hopefully its final days having to take out a loan from those same people they’ve demonized:

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.

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.

Team Obama is spending more than it’s taking in? No way!

No wonder Wall Street needs to be bailed out all the time. Giving a large loan to a sinking politician and it isn’t due to be repaid until after an election that could send him packing? Any bank worth saving would have made the loan repayment date November 5th.

If I ran Bank of America I’d have sent Team Obama the news story below along with the following note: “Our stockholders seem to feel that we have an inherent right to a certain amount of profit, and that would force us to charge you interest on the loan you requested. Because we don’t want you to appear hypocritical in any way, we’re denying your campaign’s loan request — best of luck in the election”:

obama-knocks-bank-of-america-debit-card-fee

Comments

19 Responses to “Obama Campaign Borrows $15 Million From Bank of America”

  1. SignPainterGuy on October 21st, 2012 2:49 pm

    Just curious, is the small print in the loan contract worded as, "….pay back 'when' Team Obama wins re-election" ?

    I`ve never been around a lot of money. When people say they think there`s a lot of money in signs, I tell them, "If there IS, it`s still there, `cause I haven`t bothered much of it !", so when I see words like "libor" rate, I have to wonder if that`s a contraction of "lie" and "bore"; you know, the "lie" the O`Stration tells their Banker Buddies that they just pretended to demonize (wait, that`d be a double set of lies) to get a loan and then the "boring" stories and excuses the bankers hear when the loan can`t be paid back, on-time or EVER !?

  2. archer on October 21st, 2012 5:49 pm

    THE WASHINGTON FREE BEACON ends the mini-story (or is it a story-et) with the line:

    “It is unclear why the first $1 billion campaign needed an extra $15 million for the final two months of the campaign.”

    ARE YOU FREAKING KIDDING ME!?!?
    DO I HAVE DOOFUS DUNCE TATTOOED ACROSS MY FOREHEAD!?!?

    “…IT IS UNCLEAR…!?!?”

    DO YOUR DAMN JOB AND FIND OUT!!

    That’s like the salesman telling you “it is unclear why there is no motor” in your new car. Thanks for your business.

  3. Marshall_Will on October 21st, 2012 7:29 pm

    At the current quote for 30 Day LIBOR Rate ( 1 Month LIBOR Rate 0.21 ) it's as close to free money as it gets. We're certain OWS will be all over this…

    On the upside, while handing out Romney/Ryan fliers to even people that had Obie/Bidet signs in their front yard, I noticed something that struck really sad. Many doors had HANDWRITTEN fliers offering everything from plumbing to pet grooming services!

    What an UGLY testament to the O'Drama economy. Guys, I was literally choking back tears going from house to house. "26 Years Experience!". Reminds me of the sign from the Great Depression; "Been in Detroit for 8 Years, no work. Please help".

  4. Marshall_Will on October 21st, 2012 7:29 pm

    I had a crazy ex-hippie harridan chase me down the street DEMANDING I "taked back!" the Romney/Ryan lit. I left on her doorstep. She kept shouting "You're an @$$hole..!" the whole time I just kept my head down and doing my freaking job. I finally said; "I AM WITHIN MY RIGHTS ma'am. Being a Conservative is NOT against the Law. At least not at present. Nice MOUTH btw, do you EAT with it..?"

    How odd that progressive PEU members ( I was told later "that's the crazy ex-hippie harridan, she's like that EVERY election.." ) have no reservations telling others what to do w/ their property but suddenly become "property rights advocates!" the minute a GOP [unpaid!] volunteer drops a tidy, easily disposable package on their doorstep?

  5. SignPainterGuy on October 21st, 2012 8:36 pm

    I`ve seen more handi-man bizs and house painters than ever before and it seems every other house / pickup has a utility trailer with mowers and other lawncare equip. I almost feel left out that I don`t and with so many of them, do they stay busy ?

    "Nice MOUTH btw, do you EAT with it ?" Now I love that ! Good one ! No doubt, it took the rest of the evening to figure out what you meant, and then why you were bothered.

  6. archer on October 21st, 2012 9:11 pm

    PEU = Professional Educators Union.

    Some Predator Drone UAV’s can linger for extended periods at 25,000 feet altitude, others maybe even higher. Altitude isn’t the point.

    The point is it’s a UAV and it can’t go where it want’s, nor does it even have wants, nor is it even capable of thinking for itself.

    If one were able to reach up and grab a UAV and turn it 90 degrees or even 180 degrees on its axis, the first thing it would do when you let it go is try to resume its programed course.

    Bet you can see where this is going.

    It’s difficult to believe for those who are used to thinking for themselves, that is: those outside of DMV’s, post offices, and other civil service jobs, unions and the like, that some people actually like being in the position of, and gain security in offering themselves as UAV’s to their employers. And when threatened with, what for them is the unknown, every response is an emotional one.

    The programmed course for lemmings and unions is over the cliffs.

    DANGER, WIL ROBINSON, DANGER!

  7. Marshall_Will on October 22nd, 2012 1:50 am

    "And when threatened with, what for them is the unknown, every response is an emotional one."

    Nailed it..! These people realize FULL WELL they are bookmarks/place keepers in a make-work environment. Never more than (1) budgetary "coin toss" from pavement pounding!?

    Michelle did such a great job describing just how LOW prog's sink when they go all IN for the cause. The State-employed are generally the most miserable people we KNOW!

    I've known guys heading to re-hab/JAIL that weren't as cranky…

  8. Marshall_Will on October 22nd, 2012 2:00 am

    "I`ve seen more handi-man bizs and house painters than ever before"

    And sadly NOW they are committed to never making the same 'mistake' of properly filing their Schedule A/C and deducting biz expenses EVER again..!?

    It's CASH money on the barrelhead from here on out! Gosh Bammie & Co., guess you @-holes were so busy saving or creating Gub'mint 'jobs' you never took the time to consider just what a *moral HAZARD* can o' WORMS you were opening UP huh?

    Like they had to go any farther than look at -every- Recession that's ever BEEN in Oregon ( Blue deathgrip State ) to see it only accelerates the underground economy? Yo' Progs! ( These peeps AIN'T coming back so you can KISS that revenue buh-bye forever… )

  9. Marshall_Will on October 22nd, 2012 2:09 am

    "and then why you were bothered."

    SPG, we were all given full & FAIR warning that we'd have war stories to tell! Knowing the downtown area the way that I do.., pretty SURE I was drawing the short straw.

    Ran into the old PCP at church today and he just LAUGHED..! Dan's a good 10 years older than me and was relieved a "young guy" was taking over for him.

    It wasn't I let this "Which Way to Madison!" d-bag get under my skin. She was escalating and becoming more erratic w/ each passing second. When she threw the pamphlet -directly- in my Lawful path, she was just INCHES in front of me. I actually had to slow down to keep from making contact.

    Kind of one of those Glenn Close Fatal Attraction-esque moments. When she 'threatened' to "call the cops!" ( like they are on-call Prog Pitbulls that handle their dirty work? ) I said, "At this point, I not only invite that madam, I'm openly ENCOURAGING it!" Her faux-rage almost boiled over into the physical realm. After Madison, I put NOTHING past them.

  10. SignPainterGuy on October 22nd, 2012 2:14 am

    "….you can KISS that revenue buh-bye forever ….." Yep, if you`re good at all at what you`re doing, honest (otherwise) and dependable, they`ll stay busy and they`ll stay underground; especially if there`s another legit job to go along with it !

  11. Marshall_Will on October 22nd, 2012 2:33 am

    They'll probably declare the wife's income ( W-2 emp./steady, long time employment ) but other than 'that'? And why would they be aggressively 'building' a business when hiring enough FT emp's to ramp revenue will surely put you under the O'Scare micro/proctoscope?

    As long as mom makes enough to plausibly cover the mortgage/day-to-day it will suffice. THAT or many will simply elect to declare only as much as they can cover w/ biz deductions, show a LOSS, lather, rinse repeat!

    What did they think these people were going to DO? Dry up and blow away? Commit seppuku on the front lawn? Just famish away to nothing?! SOMEBODY ( even those moved from Unenjoyment to perma/47%/SSDI claimants ) was BOUND to pick up this slack in the mkt. place! Sheesh…

  12. SignPainterGuy on October 22nd, 2012 3:35 am

    It ain`t like taxes were just invented last year and there`s not a binder full of evidence that shows that the more you tax something, the less you have of it ! For some reason I just ain`t buying all the King`s horses and Men couldn`t foresee that resourceful are going to survive and keep it off the books. Unforeseen expected consequences !

  13. SignPainterGuy on October 22nd, 2012 3:54 am

    Sounds like you were forewarned, and I`m bettin` you had a clue these foke ain`t like real rational !

    Next question, ear plugs or just laugh at `em !?

  14. Marshall_Will on October 22nd, 2012 11:19 am

    JFTR, I've NEVER advocated any regressive, insular and frankly, anti-social posture as greedily mooching off the rest of us like this.

    In fact, Dim's have always worked off the assumption all Rep's/'Conservatives' either under report or fail to report at all! Which maks about ZERO economic sense.

    If there were any truth to their little stereotype, the taxes withheld from THEIR Gov/quasi-gov/gov-related employment would simply be staring down the barrel of the Law of Diminishing Returns. ( But it makes a dandy talking point! )

  15. backwoodsconsr on October 22nd, 2012 12:24 pm

    Relax people. Obama is just trying to stimulate the campaign, the only way he knows how.

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  17. SignPainterGuy on October 22nd, 2012 2:17 pm

    Someone said, "If you put the democrats in charge of the Sahara Desert, in 5 years, they`d be out of sand." That sounds about right; they`ve spent over $1 Billion already on this campaign and it isn`t enough !

  18. Granny55 on October 22nd, 2012 8:56 pm

    But, but, but – those EVILLLLLLLLLL bankers?????!!!!!! Oh – never mind…….

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