September 20, 2011
— Ace Back in 2007, Obama was questioned very, very softly on some of his investments.
"What I wanted to make sure is that I didn't want to invest in companies that potentially would create conflicts with my work here," said Obama, who has campaigned on the need for stronger congressional ethics rules. "Obviously, the thing didn't work the way I wanted it to."Obama purchased $5,000 in shares for AVI, which was developing a drug to treat avian flu. Two weeks after buying the stock, as the disease was spreading in Asia, Obama pushed for more federal funding to fight the disease, but he said he did not discuss the matter with any company officials.
Obama also had more than $50,000 in shares of Skyterra, a company that had just received federal permission to create a nationwide wireless network that combined satellite and land-based communications systems.
Among the company's top investors were donors who raised more than $150,000 for Obama's political committees, the New York Times reported Wednesday. The stock holdings were first examined Monday by the financial Web site, Thestreet.com.
The reports found no evidence that any of his actions ended up benefiting either company during the roughly eight months he owned the stocks. Obama lost about $15,000 on Skyterra and earned a profit of about $2,000 on AVI. Skyterra stocks continued to drop after Obama divested.
So he did not make money on Skyterra, but he had a cash-money relationship with Skyterra's biggest investors.
And why is that important? Because Skyterra is now known as LightSquared.
Posted by: Ace at
12:41 PM
| Comments (41)
Post contains 276 words, total size 2 kb.
Posted by: Vic at September 20, 2011 12:43 PM (M9Ie6)
Posted by: B+ Obambi at September 20, 2011 12:44 PM (jiVmv)
The smartest man in the room my ass. I bought Apple at $4.15, it closed today at $413.45
Posted by: Neo at September 20, 2011 12:45 PM (e8kgV)
Posted by: JackStraw at September 20, 2011 12:45 PM (TMB3S)
Howie Carr just asked the most interesting question: "Has anyone seen a photograph of this guy Kaiser from Solyndra?"
/things that make one go hmmmmm
Posted by: soothsayer at September 20, 2011 12:46 PM (sqkOB)
Posted by: Barry O at September 20, 2011 12:46 PM (HpT9p)
SkyNet would actually be more accurate.
Posted by: Dr. Varno at September 20, 2011 12:47 PM (QMtmy)
OT:
Senate Majority Leader Harry Reid (D-Nev.) said Tuesday there is a chance that the government could shutter at the end of this month.
Criticizing House Republicans for the disaster relief provisions in their budget bill, Reid told reporters, "We're not going to cave on this."
Senate Minority Leader Mitch McConnell (R-Ky.) on Tuesday confidently predicted the two sides will come together by Thursday night: "There wil not be a government shutdown."
Reid, however, said, "I'm not that sure" there won't be a shutdown. He added, "I am not as certain as McConnell."
Govt Shutdown? Conservatives rejoice.
Posted by: B+ Obambi at September 20, 2011 12:48 PM (jiVmv)
Posted by: Scott J at September 20, 2011 12:48 PM (/bVuS)
Showoff.
At least I got into it around $160.
Posted by: George Orwell what knows that Obama is a stuttering clusterfuck of a miserable failure at September 20, 2011 12:48 PM (AZGON)
Posted by: kbdabear at September 20, 2011 12:49 PM (Y+DPZ)
Posted by: The Great Satan's Ghost at September 20, 2011 12:49 PM (UrPTC)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at September 20, 2011 12:49 PM (8y9MW)
Yeah. He looks a little, um, fabulous?
Posted by: Johnny (John E.) at September 20, 2011 12:49 PM (nRTou)
Posted by: alexthechick at September 20, 2011 12:49 PM (VtjlW)
special compensation for SCoaMF's
Posted by: The Great Satan's Ghost at September 20, 2011 12:51 PM (UrPTC)
Or "Star Wars" becomes "Solar Wars."
A short time ago, in a clusterfuck not so far away...
Posted by: George Orwell what knows that Obama is a stuttering clusterfuck of a miserable failure at September 20, 2011 12:52 PM (AZGON)
Posted by: nevergiveup at September 20, 2011 12:58 PM (i6RpT)
Not sure where I read it but the other day it was stated, either here or Twitter or HA or someplace that all Presidents put investments in blind trusts.... well except one.... President TheRulesDontApplyToMe.
They implied as of a couple of months ago, he still has refused to do so. Wish I could remember the source.
Posted by: AndrewsDad at September 20, 2011 12:59 PM (C2//T)
This thing with this LightSquared story.....is that it exposes the fact that while Obama loves to demonize people who make money, he is not above engaging in the same activity.
But trying to cover up the threat that the LightSquared technology poses to GPS, is the worst part of this. ....Because This displays a blatant disregard for protecting our military readiness...when there is a profit motive involved.
Further....its a blatant disregard for protecting the technology that affects not only our military readiness, but also so many other areas of our lives where GPS is utilized.....such as law enforcement, mapping, ground/air navigation, search & rescue opps, etc.
If memory serves, our tax dollars contributed to the development of GPS technology. So this is a sellout of the taxpayers in more ways than one.
Posted by: ConservativeMenAreJustHotter at September 20, 2011 01:16 PM (gZjpA)
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.
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.
Posted by: willow at September 20, 2011 01:16 PM (h+qn8)
Posted by: willow at September 20, 2011 01:18 PM (h+qn8)
Posted by: willow at September 20, 2011 01:19 PM (h+qn8)
It's the Chicago Way!
Man, I can only say "can you imagine if a Republican President did X?" so many times a day before my gums bleed.
Here's a commercial we need to see:
PAN OUT FROM A PHOTOGRAPH OF THE OUTSIDE OF THE SOLYNDRA PLANT.
Announcer: Corruption. (In ominous, NFL Films voice.)
PAN IN TO HEADLINES OF PAPERS DETAILING SOLYNDRA SCANDAL.
PAN OUT FROM PHOTOGRAPH OF THE OUTSIDE OF THE LIGHTSQUARED HEADQUARTERS.
Announcer: Greed.
PAN IN TO HEADLINES OF PAPERS DETAILING LIGHTSQUARED SCANDAL.
PAN OUT FROM PHOTOGRAPH OF DEAD BODIES OF LAW ENFORCEMENT OFFICERS AND MEXICAN CARTEL MEMBERS.
Announcer: Murder.
PAN IN TO HEADLINES OF PAPERS DETAILING GUNWALKER SCANDAL.
FADE IN TO PHOTOGRAPH OF OBAMA LAUGHING EVILLY.
Announcer: The Obama Adminstration. Corruption. Greed. Murder. It has to stop.
Paid for by Americans Who Give A Shit, and we're not affiliated with any political party, we just want to save our goddamn country.
Posted by: The Regular Guy at September 20, 2011 01:25 PM (qHCyt)
Obama was chairman of the Senate Health & Human Services Committee in January 2003. A few articles in the media have mentioned that Obama sat on a committee that reviewed matters related to the Planning Board in conjunction with the Governor's staff but none have discussed his integral part in getting the bill passed
A review of senate records from January 2003 to August 2003, shows Obama played a major role as chairman of that committee, in pushing through Senate Bill 1332, that led to the "Illinois Health Facilities Planning Act," which reduced the number of members on the Board from 15 to 9, making the votes much easier to rig.
Democratic Senator Susan Garrett sponsored the bill in the senate, and the chief co-sponsor was Republican Senator Dale Righter. These two senators were also on the Human Services Committee with Obama.
The bill was filed with the senate secretary on February 20, 2003, and assigned to Human Services Committee for review on February 27. Less than a month later, as chairman, Obama sent word that the bill should be passed on March 13, 2003.
On May 31, 2003, the House and Senate passed the bill and the only senator listed in the "yes" votes mentioned in the Board Games indictments is Obama.
Blagojevich made the effective date June 27, 2003, and the co-schemers already had the people lined up to stack the Board and rig the votes with full approval from Obama.
evelyn pringle may 2008 . not sure about the veracity of the post but i read her way back, when fitzgerald was investigating Him
Posted by: willow at September 20, 2011 01:28 PM (h+qn8)
Posted by: ConservativeMenAreJustHotter at September 20, 2011 01:33 PM (gZjpA)
Posted by: steevy at September 20, 2011 01:58 PM (fyOgS)
"The smartest man in the room my ass. I bought Apple at $4.15, it closed today at $413.45"
Lieutenant Dan got me invested in some kind of fruit company. So then I got a call from him, saying we don't have to worry about money no more. And I said, that's good! One less thing.
Posted by: Forrest Gump at September 20, 2011 02:25 PM (ra3aw)
Rick Perry likes dudes.
I certainly hope so. You don't want a bunch of chicks ruining all your meetings and stuff.
Posted by: Barry O'bama at September 20, 2011 04:15 PM (HtUdo)
Wow and I thought Clinton was corrupt.
Obama makes me long for the honesty of Nixon, the effectiveness of Carter and the integrity of Clinton.
Posted by: Molon Labe at September 20, 2011 08:03 PM (S7K8x)
Posted by: Dave J at September 21, 2011 06:46 AM (jbXDH)
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Posted by: no good deed at September 20, 2011 12:43 PM (mjR67)