I want Money - Obama Campaign borrows $15M from BofA
And just how does he expect to pay it back? From the
Washington Free Beacon:
Obama Campaign Borrows $15M from Bank of America
Obama For America took out a $15 million loan from Bank of America last month, according to the campaign�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.
Not exactly chump change -- last reported
Libor monthly rate is 0.97300% so the campaign is getting a sweet deal.
Posted by DaveH at October 21, 2012 2:21 PM