I’ve been expecting this and have posted on this before. What is the downside to Obama’s campaign borrowing as much as it can in the last 30 days? Nothing. If he loses, the campaign organization files for bankruptcy and Obama is not personally liable. If he wins, his cronies will either raise the money to pay of the loans or will visit the banks quietly to convince them they need to write off the loans.
From the perspective of the banks you pretty much have to make the loan even if there is no collateral. If the bank refuses to make the loan, and Obama wins, the bank CEO can pretty much assume Chicago politics will rule and the regulators will be turned loose on those banks perceived to be unsupportive of the regime. In a close election such as this one, the bank will make the loan.
I would not be surprised if we learn after the election Obama’s campaign has borrowed over $100 million. If he loses, that money will be impossible to collect but may be the deciding factor as it will give him the advertising money needed to dominate the airwaves in the swing states. Plus with “leaning Obama” states becoming competitive, he needs advertising funds in those markets he did not plan to spend. Ironic he is shaking down the banks he constantly condemns for the money and they are complying.
I read early this morning that small town in Illinois is sueing Obama for unpaid
bill from 2008. Has to do with OT for cops when Obama was in town.
I have often said when dealing with Democrats, they pay up front or no services.
When I read this article earlier I had same thoughts you did.
With one difference if they file bankruptcy BOA will take it out of taxpayers.
First rule of business is never let a campaign get anything on credit. I knew a guy who owned a high-end hotel. While he did let candidates stay there, since it was the best place in town and having presidential candidates stay there reinforced that impression, he always assumed if they didn’t pay cash in advance, the rooms were an in-kind contribution because they NEVER paid their bills.