BY:Â Washington Free Beacon Staff
Obama For America took out a $15 million loan from Bank of America last month,Â according to the campaignâ€™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 â€œBuffett Rule,â€Â invested $5 billionÂ 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 wouldÂ lay off 16,000 workersÂ by the end of the year.
Obama has a complicated relationship with Bank of America. The bankÂ contributed $20 millionÂ toward the cost of the Democrat National Convention earlier this year. Bank of America stadium, home to the Carolina Panthers, was supposed to host Obamaâ€™s acceptance speech. At the last moment, theÂ campaign switched to a significantly smaller venue. The campaign claimed that anÂ impending stormÂ would not allow the President to deliver his address. Many questioned whether move was made because the campaign was having trouble filling such a large stadium.
It is unclear why the firstÂ $1 billion campaignÂ needed an extra $15 million for the final two months of the campaign.
Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!
We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.