Obama Campaign Borrows $15M from Bank of America - Crony Capitalism on Display?

Obama Campiagn Borrows $15M from Bank of America

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.

On the surface this looks like a typical loan but 4 things make it very suspicious to me:

1) Its due in total just 8 days after the election.

2) Just two weeks after the loan, Bank of America announced it would lay off 16,000 employees by the end of the year.

3) According to Bloomberg, Bank of America et al (big banksters and Wall Street) contributed $20 million to the Democrat National Convention this year.

4) Why does a BILLION DOLLAR campaign need an extra $15 million??

It looks to me as though Obama is looking to repay that loan with a crony capitalism kickback; the timing is suspect. I also wonder what they’ll use the money for since their coffers are already stuffed?? Could this be extra “walking around money” for the Obama’s or maybe bribery money to pay for election fraud (driving people to the polls, kick-backs, political payoffs, etc)??

Here is the really interesting part! According to OpenSecrets.org, Bank Of America has contributed far more to Romney's campaign this election cycle, which calls into question my first suspicion….crony capitalism.

Bank of America Political Contributions:

Top Candidate Recipients, 2011-2012

Mitt Romney (R) $668,139
Barack Obama (D) $169,112

So what are we to make of this development? I’m hoping some of you will share some insight. Is this suspicious based on the information I've shared?

reply to post by seabag


Its curious why his campaign would need to borrow money at all. like you said, both campaigns are flush with money.

I wonder if since fundraising is over, if they over projected their totals and needed a cushion for expenditures til the end of the campaign? that would be my only guess.. That they over spent initially, and expected further donations. I could be very wrong though

reply to post by SamLuv

Its curious why his campaign would need to borrow money at all. like you said, both campaigns are flush with money.

I know!

What’s it for??

I wonder if since fundraising is over, if they over projected their totals and needed a cushion for expenditures til the end of the campaign? that would be my only guess.. That they over spent initially, and expected further donations. I could be very wrong though

Ya, that makes sense, I guess. But do you really think he’s overspent at this point? AND, most campaigns end in the RED. Are we to believe that the biggest deficit spending POTUS in history somehow want's to make sure he settles his campaign debts??

There are only 2 weeks left to spend this huge sum of money they’re both swimming in…..something stinks here IMO.

i think that when a new "strawman" is created, it is assigned the value of 15 million.

#1 ... could just be a coincidence

#2 ... you may not know what the # i'm talkin' about

#3 ... you likely can't guess what i'm implying

#4 ... you came here to post your most intimate thought on our two fine upstandig candidates

reply to post by tinhattribunal


I read your post 3 times and I'm still lost....

Please elaborate!

Yeah curious to say the least can't remember which one but either Bank of America or Citigroup is the "official" bank of the DNC.

Considering all the milliions he has raised the only explanation is he is not raising enough.

Altho getting a loan for campaigning is not unheard of also believe that the Obama campaign paid off Clintons campaign debts.

Not really crony capitalism on display just Americans how ran out of that thrill up their legs.

reply to post by neo96

Considering all the milliions he has raised the only explanation is he is not raising enough.

What’s it for? I guess here in Texas I just don’t see the Obama ads….actually, I’ve never seen one. I know TV time is expen$ive but I just don’t see them spending a BILLION and needing $15 million more!!!!!

Altho getting a loan for campaigning is not unheard of also believe that the Obama campaign paid off Clintons campaign debts.

Ya, they had money left and used it to buy a Sec of State with a NAME.

Not really crony capitalism on display just Americans how ran out of that thrill up their legs.

Not really, because as you pointed out, he’s raised MILLIONS already. The thrill is obviously still in play for many.

reply to post by seabag


A war chest?

Getting a nice retirement bonus.

reply to post by seabag


Maybe all those ads with Slick Willy aren't cutting it. Seriously, I see "make a donation" after EVERY Obama ad.
Obama's campaign must have some serious problems, to be borrowing from the evil bank.........


S&F

reply to post by sonnny1


That is just it tho the dude raised 181 million in September and now needs a loan?

Been saying the guy has been bad with other peoples money for the last 4 years this only proves that.

Originally posted by neo96
reply to post by sonnny1

 

That is just it tho the dude raised 181 million in September and now needs a loan?

Been saying the guy has been bad with other peoples money for the last 4 years this only proves that.

Hes a liar.

I don't think he raised nearly that amount.

Same thing with the unemployment numbers, right after his fiasco at the debate.


ALL Fabricated.

He is just getting back some of that money he gave them in QE1 and QE2..

He needs the cash to run ads because he is loosing now, barry called in a favor to his buddies
up at BOA(ss)..

He is going to run these ads in the battle ground states.. This is the beginning of desperate moves..

Like when someone is drowning they start pulling someone saving them down, well barry is not
going down alone..

We will see more of these money grabs and false attack ads... Just another day in the oval office.

What a waste considering he stands a strong chance of losing. BoFA has given loans to a lot of candidates. If there is money to be made they will be there to make it. As for the layoffs, I doubt the loan has anything to do with it.

reply to post by seabag


Probably need it to hire more A list actors to speak in their ads. I just saw one with Morgan Freeman as the voice over. I know some Americans are functionally retarded and will vote just on the fact that their favorite voice over is voicing for Obama. To me, it makes me sick.

heres a better question, if its being taken out by a certain formed group, and that group most likely is under and LLC, and the group breaks up, who pays the loan back?

15 mill when each have donors that carry that in the back pocket? heh, it is shall we say its hush money, pay off money, either for him to take a loss and shut the f up, or to help sway voters, 15 mill in some ghettos goes a loooong way ^^

8 days after election huh, whos name is it under, is it normal for banks to set a time limit that short and for so much money and from a bank so big? very odd , very odd indeed.