My least favorite political cliché—that liberal donors don’t ask for anything in return for campaign contributions—was exposed as laughably false by the Kick the Can Down the Road Act of 2012, also known as the American Taxpayer Relief Act, or the “fiscal cliff deal.”
I was halfway into the latest celebratory profile of Chris Hughes, the Facebook multi-millionaire and owner of the New Republic, when I was struck by the following idea, which I provide free of charge. If you are a millionaire or billionaire looking to avoid negative or critical or even remotely credulous press coverage, stop what you are doing, invest in a media property, and employ liberal writers and editors. You will probably lose a lot of money, but the intangible benefits of slavish praise and deflected criticism will be priceless.
Last month, Obama for America borrowed $15 million from Warren Buffett’s Bank of America, as reported by the Washington Free Beacon. Buffett, however, is not the only connection between Obama and 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.
Warren Buffett’s Bank of America is implementing a plan that will lay off 16,000 workers by the end of the year, the Wall Street Journal reported.
General Motors’ financial arm is finally turning a profit since receiving a $17.2 billion cash infusion from the American taxpayer. But the money is going into the pockets of wealthy financers, not the U.S. government, according to Dealbook.
Warren Buffett and Jon Bon Jovi played a ukulele duet Tuesday–of a song popularized by Bette Midler–at the Forbes 400 Summit on Philanthropy in New York.