My family invested nearly $15,000 last year in Barack Obama, Inc. stock. We bought in heavily out of accumulated capital and it was a significant amount for us... fourth months worth of what my wife would call "the rent money" and then some.
Some "stock" was acquired directly through the campaign or inaugural websites for things like tickets to the inaugural festivities [I'm counting this as an "investment" and am not including travel and evening wear expenses; though I did not attend but deferred to my wife and daughter's desire to go party while I stayed home in L.A. with our 11 year-old son]; my Jamaican-American wife wanted to meet Michelle Obama at an intimate affair which Samuel L. Jackson and his wife hosted at $2,300 a ticket; and, more "stock" was acquired via Obama's Hollywood brokers or "bundlers" -- friends of long-standing who keep score and accumulate karma by raising prodigious amounts for "le candidate du jour" from a long list of the usual suspects in La-La Land. [yes, we are modestly privileged people, so if you're welling up with anger in Topeka or Timbuktu....we get it...don't write in].
What we have after 9 months is a "penny stock" which has yet to pay a dividend and may just end up worthless despite the good feelings we had in the stock issuing "company". [I'm avoiding a Madoff analogy but the campaign vastly outraised any other campaign in American history so we were not alone in buying in].
Here's why I'm unhappy and why I think the stock is tanking in Obama, Inc.:
- It may not rank up there with national health care or economic reforms, but I thought the President's reponse to a million Cubans attending a Peace Concert in Havana last weekend by South American superstar, Juanes, was dismissive and formulaic in its condemnation of Cuba's refusal to yield to US demands for American-style "reforms", quite apart from his campaign rhetoric about a new era of interaction with certain countries and their leaders. Cuba is the low-hanging diplomatic fruit ripe for improvement. I have worked there on and off for 15 years providing medical aid to children who otherwise would not need any if not for a 49 year old trade embargo imposed and/or continued by 10 US presidents -- le plus ca change!;
That said: it's cool he can sink a free throw or a 3-point shot and likes the same music as me. It's not cool he plays golf with the president of UBS Bank, one of the worst offenders at misleading its own customers.
Anybody want to buy my stock in Obama, Inc.?