Has Obama explained the investment blind trust that was not blind?

[papau]

I know ke claims that he didn't know he owned the stocks at the time of purchase or at the time of any action taken in areas related to the companies' goals, and that as soon as he did learn of his ownership, he sold the stocks -- at a loss -- and restructured his blind trust to be --uhm-- more blind. His spokesman Bill Burton's statement: "In 2005, Barack Obama entered into a trust agreement -- the terms of which did not permit his stockbroker to solicit advice from Obama or consult him on the trades that were being made -- to manage his stock portfolio. As the New York Times reports today, Obama owned stock in two companies which he did nothing to help -- an investment that lost him $13,000. At the end of a thorough examination of Senator Obama's portfolio, it's apparent that his dealings were completely above board and his decisions were proactively made in the interest of avoiding the potential for conflict." still leaves a few items - as ABC News noted:

"1. Who made the decision to buy those stocks and based on what? Bill Burton's answer: "The broker made the decisions about the stock -- Obama had absolutely no role in their purchase."

2. How and when and by whom did Sen. Obama learn that he owned those stocks?

Per the Times, Bill Burton "said Mr. Obama had decided to sell the stocks after receiving a communication that made him concerned about how the trust was set up."

But if he didn't know about the stocks until that point -- that communication must not have simply caused concern about how the trust was set up, but maybe caused apparent conflict of interest concern about those particular stocks as well, right?

Bill Burton's semi-answer: "He didn't know about the specific stock holdings he had until he had to report the sale in his Senate disclosure form."

Some questions certain to be posed to the Senator and his team:

1. Who was his broker?

2. What conversations about investment strategy did Obama have with the broker?

3. Why did the broker put him in two speculative stocks -- in which Obama contributors were major investors?

4. Was that decision a wacky coincidence?

5. Will Sen. Obama release his communications with the broker?

6. What is his relationship with the Republican-leaning Mr. Abbruzzese?

7. Were the two stocks sold at the same time?

8. Does Sen. Obama plan on returning the donations he received from contributors involved with the businesses in which he owned the stock?

9. Why is he taking money from a Swift Boat donor? How many other Democratic '08ers have done that?

10. Was it a coincidence that he bought Skyterra on the same day that the company received a favorable FCC ruling?

11. Was the stock purchased before the ruling?"

Meanwhile has anyone come forth on the land deal with the indicted campaign cash bundler - showing the lobbyist/neighbor/campaign contribution maker/bundler had a property worth 5/6ths or more of his original purchase price after Obama bought 1/6th of the lot for 1/6th of the neighbor's original purchase price. Without access to the street after the sale, it would seem the property would drop a great deal in value.

[Warren Stupidity]

1. This is just bullshit.

Why do you care?

He lost money on two small stock purchases that he didn't make. So?

[papau]

13. The questions were asked by ABC Political news desk on their site on the web. n/t

n/t

[Colobo]

2. Question 12

Who cares? I honestly don't. Not because he is my candidate, but because it seems like some people are trying to make an issue about nothing, just like Hillary's "Southern Accent" thing or Edward's bloggers non-issue.

As soon as the conflict of interest was detected, the stocks were sold. End of the story except for those who fear Obama.

[TomInTib]

4. "As soon as the conflict of interest was detected, the stocks were sold"

If he were a 'pub, how would we be responding?

I have gone large on Obama and I am going to contact them tomorrow and ask for my money.

This crap smells really bad.

It may be small potatoes, but it is what it is.

If it was DeLay, we would be screaming.

[Colobo]

5. If it was a Republican

I wouldn't care either. Honestly.

[TomInTib]

3. This whole thing smells really bad

Did unsaid broker know which committees Obama served on?

Your points #3&4 are all too telling.

If this was a 'pub, we would be howling for his scalp.

How does one go from Nothing-to-Senator in so few years?

Teflon has nothing on this guy.

Tomorrow, I am going to demand that his camp return my donation.

I am not afraid to admit that I made a mistake.

[beaconess]

7. Wow - with supporters like you . . .

[TomInTib]

11. I do not know what you mean..

but Bobby Jack Perry is my cousin.

And I am going mano a mano against him.

I am pulling my funds.

[Ninja Jordan]

16. I don't know what you mean.

What the hell are you even talking about

[Ethelk2044]

17. Stocks

Ok let me get this right a blind trust means exactly that. Now he receive a prospectus in the mail. He decided the trust was not so blind and decided to liquidate the stocks. You are blaming him because he decided to do the right thing. People like you he does not need as a supporter because your logic is not there.

You are telling me things never happened in your life and you found out about them later. Then you stated I did not know that. Give me a break. You can try to smear him, however the logically people will not listen because they know your logic does not make sense. If a person is going to do something as you are suggesting. They are not going to take a lost. They are going to make sure they make a profit. Hello wake up people.

[zulchzulu]

6. Much ado about (sniff) (sniff) sniff) nuttin'

Abbruzzese gave money to one of Obama's political groups. Did he hand the check to Obama personally? I don't know. The red herring that Obama took a contribution from someone who also contributed to another group out of his control is bogus. Should a contributor have to tell the campaign he is contributing to who has also contributed to?

Do you understand the basics of a blind trust and how an investor is supposed to operate in the client's best interest? Do you understand that once Obama found about about the investments, he sold them at a loss. Discussing investments with a broker when your relationship is a blind trust makes it NOT a blind trust.

I don't know nor am privy to all the details regarding the land deal issue, but I've heard that it was a ruse that lead to a dead trail in Chicago politics.

Granted, henpecking on these issues are much more important than discussing the war or universal healthcare...

:sarcasm:

But seriously, if you REALLY want to have a response to these questions, check this out:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=3148992&mesg_id=3149870

[Hekate]

8. Question #13: Is it a bad thing for Dem candidates to make it rich?

Should they INHERIT their money, like Republicans? Should we acknowledge that only the wealthy can afford to run for president any more and accept only candidates with "family money" like the Kennedys and Bushes?

Or should we demand that all Democratic would-be politicians take a vow of poverty for life, thus demonstrating they are pure of heart -- but also cutting out any chances they may have of actually getting into higher public office?

Oh, and while we're at it -- how big is Barack Obama's house?

Christ on a trailer hitch -- between rank envy and rank repetition of Repub talking points I just want to :argh:

Hekate

[beaconess]

9. Hear hear

Especially re: your point about rank envy. The "I hate anybody who has anything that I don't have" crowd is really in the house.

Crabs in a barrel.

[Colobo]

10. Or maybe

"I hate anyone who represents a threat to my candidate..." :)

[Jim Sagle]

12. Sheer, unadulterated claptrap!

[papau]

14. I'm sure - but should he respond to ABC's questions? n/t

n/t

[Colobo]

15. This is a non-issue, and his people already responded

Obama should not waste too much time on this.

[papau]

18. That may work on this one as no Dems are trying to amplify the issue - but

will that approach work against GOP slime in the General?

The guy impresses - and seems honest. But he has stepped in shit a couple of times - and if he can not handle the process of getting rid of the shit a year away from the first primary, he is going to have a hard time in the General when throwing shit - rarely true stuff but still GOP shit that will hit the media and make Obama look bad - is a 24/7/365 game plan. This go round of ABC media slime, his silence with staff giving a denial that has a bit of wiggle room may well work out fine - but would that approach work in the general?

He had an easy run in the Senate primary where the opposition folks self destructed, and then again in the general the GOP opposition had the worst campaign I have seen in years - and the GOP opposition self-destructed. He is untested in so many ways. But he does seem impressive - and he does seem honest - and as Reagan showed - teflon is a beautiful campaign defense.

It will be interesting to see how this one blows over (and I expect it will quickly because Dems don't throw dirt - only the media as in ABC NEWS is interested in throwing some dirt right now) - and in seeing how he handles the next slime ball thrown.

I have no horse in the race yet (12/07 is soon enough to decide) but I sure want a tough candidate that'll beat back GOP slime.

[Mass]

19. Other: Will he return money given by a SBVT donor?

The rest is just business as usual, but Obama made clear in the Fox hearing he was condemning Fox for having given money to the SBVT donor. So, will he be consistent and return the money given by Abbruzzese on this basis?