Obama Struggle to Explain Stock Purchases

Discussion in '2007 Archive' started by carpro, Mar 8, 2007.

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  1. carpro

    carpro
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    http://www.suntimes.com/news/sweet/288655,CST-NWS-sweet08.article

    Obama struggles to clarify why his 'quasi-blind trust' wasn't really blind and why it bought shares in firms linked to two of his donors

    EXCERPT

    March 8, 2007
    BY LYNN SWEET Washington Bureau Chief

    WASHINGTON -- White House hopeful Barack Obama was on the defensive Wednesday over stock purchases from companies whose investors included his political donors.

    And Obama revealed that he terminated a "quasi-blind" trust he created for the stock purchases -- called the "Freedom Trust" -- after realizing that it wasn't blind after all.


    Obama's campaign team ramped up a rapid reaction defense after a story about his portfolio hit the front page of Wednesday's New York Times and was the subject of scrutiny Monday on thestreet.com.

    Denies any connection

    The political damage potential is high because one of the firms Obama bought stock in was developing medicine to treat avian flu -- with the purchase coming as Obama started to champion more federal funding to fight the disease. Obama, who has made ethics one of his signature issues, took questions at a news conference in the Capitol called originally to tout an immigration bill. He denied any connection between his investments and legislation.
     
  2. Martin

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    Of course I believe the whole story is that he sold them once he realized what had occured.

    While I don't support Obama it is these type of silly political attacks that keep honest people out of politics. Both sides need to stop it and stop it now. Our country is being ruined by these silly political games. It does not matter what stock he owned since he clearly was not trying to do anything wrong, it does not matter what he did thirty years ago, it does not matter if he smokes or not, it does not matter what Bush did twenty five years ago, it does not matter what Bill Clinton did twenty years ago. None of this matters.
     
  3. Filmproducer

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    Excellent advice! :thumbs: Wish more people would think to follow it. Afterall pointing out past discretions, especially those 20 years ago, reveals the "true" character of a politician. ;)
     
  4. carpro

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    Wishful thinking, I believe.

    Even if your wish to control the actions of politicians were possible, you can't control media hounds looking for a "scoop".

    BTW Obama's stock dealings were very recent, not 20 years ago.
     
  5. Filmproducer

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    Obviously I knew that Carpo. I was making a generalized statement. Was GW's alcoholism recent? What about Obama's 20 year old parking tickets? These are non-issues. If Obama was actually trying to hide something there is cause for concern, but he wasn't. As much as I abhor GW's job as POTUS, his past experiences with alcoholism have nothing to do with current political problems. It is all fodder promoted by the very people who know the majority of American people, (of all political stripes and colors), will become sidetracked, possibly derailed, by. Frankly, imo, it prevents the politicians from having to discuss the real issues, when they have to answer to this type of nonsense.
     
    #5 Filmproducer, Mar 8, 2007
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  6. Martin

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    ==True. I am sure all of us have done things that we would not want on the front pages. We are all sinners and we have all made mistakes. These people in the media, and other politicians, who are always pointing out the sins and mistakes of others are hypocrites. The country would be better off, in my opinion, if these people would just go away and find something else to be interested in. I mean for crying out loud FOX News has really turned into little more than a 24hr Inside Edition. It is sickening.
     
  7. Martin

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    ==It does not matter! He did nothing wrong! When he learned what happened he got rid of it. Big deal! Move on! There are serious, deadly, issues in our modern world and what stock Obama owned is not one of them. It is time we start dealing with the issues and stop with these playground level gotcha games. I'm tired of it.
     
  8. Bro. Curtis

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  9. carpro

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    Maybe.

    But he did sponsor legislation favorable to his stock cronies and one of the names mentioned is the same one with ties to organized crime that Obama was involved in a shady real estate deal with.

    Either would have gotten Cheney crucified and DeLay shot by democrat firing squad. And the howling moonbats would be heard right here at BB.:smilewinkgrin:
     
  10. Filmproducer

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    Specifically favorable how? AVIbiopharma is hardly the only company working towards a vaccination, in fact their drug has not even made it past clinical trials. Let's not forget that AVIbiopharma also manufactures HIV/AIDS medication. So I guess any legislation that Obama supported concerning healthcare for HIV/AIDS patients is also "favorable to his stock cronies", thereby rendering him and his vote as shady. :rolleyes: C'mon he didn't invest all that much money to begin with and when he realized the connection he got rid of the stock.

     
  11. Filmproducer

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    Would like to add that the avian legislation was not out of the blue. Health experts have shown that two of the three conditions have been met for a potential pandemic. The initial legislation that Obama introduced in April 2005 was aimed at increasing our country's awareness and preparedness. Anyone remember what happened in Canada during the SARS epidemic? It is not a great leap to think that something similar could happen in the US given the ease of global traveling. There is absolutely no evidence that Obama even consulted with anyone in, or affiliated with, the company before or after he pushed the legislation. This is a NON-ISSUE.
     
  12. Filmproducer

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    What do Tony Rezko and Jared Abbruzzese have in common? Apparantly you need to get your stories straight. BTW, did you have a problem with Abbruzzese when he supported the Swift Boat Vetrens For Truth? As for Rezko there is no evidence of purposeful impropriety on Obama's account. He bought a house and the seller was also selling the adjoining lot but only on the condition the house sold. Rezko bought that lot. They had the same closing date, etc.

    Should candidates really have to worry about whether or not they own the same stock as their political donors? Especially if they have never even met? (Abbruzzese) Obama did not have a completely blind trust because he wanted some say over which companies he invested in, i.e., he did not want to invest in companies he was personally against supporting. He has since gotten rid of the trust altogether and invested his money in mutual funds and money market accounts.

    If you don't support Obama that's fine. I don't care. Let's please stick to the real issues though. All this other nonsense is absurd. (And yes it is also absurd when the tables are turned and it is the conservative/Republicans in hot water). If there is evidence of impropriety it is fine to create a big fuss, but until then....
     
    #12 Filmproducer, Mar 8, 2007
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  13. Martin

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    ==So? Who cares? There are real issues out there so stop trying to justify this game and let's get on with the real issues.
     
  14. JamieinNH

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    That's a funny statement coming from someone who posts thread after thread of this garbage over and over again.

    It would appear that you're always looking for the "scoop" as you put it too..

    We might not be able to control the politicans, or the media, but as Christians, we can act more responsible than them both.

    Martin has the right idea and this country will NOT get any better until more people begin to think like him.

    Jamie
     
  15. carpro

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    Of course.

    He's not a Republican.:tonofbricks:
     
  16. carpro

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    No Christian, in good conscience, should support him.
     
  17. carpro

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    I take it you won't be supporting anyone like Obama, then.:thumbs:
     
  18. JamieinNH

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    Nice dodge... The fact remains, that you're just as guilty of wanting the "scoop" as the media seems to be.

    As far as who I would vote for, it's really too early. Ron Paul would be my current choice if he would run.

    Jamie
     
  19. Filmproducer

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    Right... If you say so....That's all you can come up with? Kindergarten politics indeed. "It's okay for me to make an issue of a non-issue because I am under the impression that you would do the same" :thumbs: :rolleyes:

    Sorry Carpo, I left kindergarten long ago and I have no desire to return. There are more important things in life to worry about, like actual political problems and issues facing our country.
     
  20. Terry_Herrington

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    I disagree! If he wins the Democratic nomination, I will vote for him!
     
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