And they actually expect to get it back?

Wonder if somehow the Bank "tricked" them into taking out that $15MM loan?

#1, you were to fast! My thoughts exactly.

Something shady is going on.

FTA - 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.

Author asks why the campaign needs a loan if they have a billion dollar warchest.

Good question.

Geeeze---This sounds like a bad investment to me.

Will the taxpayer have to pay it back as a stimulas for keeping the bank afloat???

Art

My question is WHY? They announced yesterday that BO had his single largest day of collecting campaign funds EVER.

Something isn't right here... and it stinks to high heaven!

We closed our accounts there last June and told them it was because they ally too closely to Obama. They seemed shocked. The manager says she doesn't follow politics. We told her she should. They still send me emails that my account balances are too low. Yes they are zero and the accounts are closed.

How can a campaign legally borrow money????

Collateral?

Very interesting indeed. According to the press, Obama has been taking in record amounts of donations. If that we're true, there is no way they would need loans of this size. Somebody has been lying.

I guess they have to pay Gloria All Red somehow...

#8 they can't this was a gift.

Fun With Zeros

Money laundering 101; Warren Buffet spends 5,000,000,000.00 on B. 0 A. - then lends 0 and the DNC 15,000,000.00 for his campaign.

0 doesn't have to pay back the loan! Warren now owns B. 0 A. and 0.

Cost to Warren Buffet to own 0 and B. 0 A.; 0.003 percent of his investment in B. 0 A.

Pretty good deal and even if 0 loses, he still owns the DNC.

In the words of the late Bob Prince, "You can kiss it goodbye!"

In the article posted immediately above this one, it is reported that the DNC dropped its banking relationship with Bank of America and moved over to union-owned Amalgamated Bank.

After BofA had donated $20 million to the DNC for the convention in Charlotte.

But Obie's own campaign organization, OFA, is still hitting BofA for short-term funds.

Why? I thought he was rolling in dough... at least a billion?

These two articles should probably be read together.

#9, Collateral? It sure wasn't their "credibility" that secured the $15 millon loan for the Dems. And the Bank of America has no expectation whatsoever of getting it back.

Charlotte, NC is still owed a boatload of money, as are several cities from the 2008 Obama campaign. Only a fool would loan money to Obama.

I wonder if some union thugs and regulators are involved in this?

Banksters...Morons. I can guarantee you will never see a penny of that money once Obie is thrown out of office!

Democrats just LUUUV making subprime loans.

The true reveal is that the donor base has dried up and is not going to throw money to a loser.

Makes you wonder how the the DNC and OFA are going to pay it back if the donors don't open their checkbooks.

BOA is also an issuer of government credit cards.

It's no surprise that the campaign is being run on
borrowed money. That's how O has run this country. Borrow and let someone else worry about how to pay it back

This sounds appalling. I have to think that eventually the debt will be written off. Is it some sort of covert transfer or payoff?

If the loan were to the DNC then maybe they would be in reality transferring those funds to the unpaid Charlotte vendors. Such a tactic could yield BAC a tax write off when the debt goes unpaid.

This just stinks to high heaven. I wonder if the Øbama "Occupy Wall Street" gang knows about this- and why, if they do, they have kept totally silent about their blatant hypocrisy?

I doubt the best auditors could figure out the complexities of this double and triple dealing. The bank should make Obama put his new Hawaii house up for collateral.

Borrows $15,000,000.00? I thought The Bamster's 2012 Campaign had tens of millions on deposit?.......And why borrow from Bank of America when "Turbo Tax Timmy" is in charge of Uncle Sugar's nothing down, no collateral needed, no credit check or proof of gainful employment/income necessary, zero interest bad loan write-off department?

This means the taxpayers will end up bailing out bank of America again.

B of A needed a write-off.

[More seriously -- a. they're Leftists, too; b. B of A is big on opening accounts for people who don't have SS numbers. Hey, lots of people don't have SS numbers, right? Not many who are here legally, though. That policy abets Obama's amnesty plan, and keeps the Feds off B of A's back.]

#1 is quite correct. Springfield, IL is still owed $50k for additional security/police forces during 0's '08 campaign where he introduced Gaffen Joe as his VP. And where boy tried again to align himself ideologically with President Lincoln.