May 15, 2012, 6:55 pm EST
While Barack Obama has hammered on Mitt Romney for being a wealthy businessman out of touch with the middle class, the two do share something in common. According to financial disclosure reports released by the White House today, both men are millionaires.
One interesting thing about these reports is that they only require Barack and Michelle Obama to release the value of their assets as a wide range. For instance, the total value of the Obamas’ assets listed in the report is pegged at somewhere between $2.6 million and $8.3 million. Royalties from Barack Obama’s memoir “Dreams From My Father” are listed at somewhere between $100,000 and $1 million — a decline from the previous year’s proceeds, listed at between $1 million and $5 million.
Romney, by any estimate, dwarfs the president in net worth. According to his financial disclosure documents, his net worth is between $85 million and $264 million. Read
May 15, 2012, 10:00 am EST
Want a very quick solution to the privatized gains and socialized losses of modern financial services…?
As I was reading of yet another spectacular mismatch between bank managers’ competence and their remuneration, and this time at JPMorgan (NYSE:JPM) no less, I realized there is a simple solution which really could be implemented.
Make the cost of regulation zero — or very nearly — for unlimited liability partnerships. Then let judicious self-interest, exercised by the partners themselves, do the rest. Read
May 14, 2012, 5:29 pm EST
Ron Paul may be the last man standing against Mitt Romney in the Republican presidential primaries, but it is becoming increasingly clear that he doesn’t have much of a leg to stand with. The latest proof? Paul has announced that he will no longer be spending money to campaign in states that have yet to hold their primaries.
Paul, who has won 99 delegates to date, released the following statement today:
We will continue to take leadership positions, win delegates, and carry a strong message to the Republican National Convention that Liberty is the way of the future. Moving forward, however, we will no longer spend resources campaigning in primaries in states that have not yet voted. Doing so with any hope of success would take many tens of millions of dollars we simply do not have. Read
May 14, 2012, 10:30 am EST
It has been less than a month since President Obama declared war on those evil oil speculators.
Standing in the Rose Garden on April 17th, the president laid out a $52 billion initiative to increase federal supervision of oil markets in an effort to crack down on oil price spikes.
At the time, oil was trading at $117.41 a barrel and $5 a gallon gas seemed all but inevitable. Read
May 14, 2012, 10:04 am EST
With the economy still showing lackluster growth and the unemployment picture improving only modestly, Republicans have decided to go after President Obama’s most devout voters — those still in, or recently graduated from college.
College-aged voters flocked to Obama during the 2008 campaign, and the president continues to enjoy strong support from those under 30. However, the economic downturn has hit recent college graduates especially hard.
With unemployment among the recently-graduated still near an all-time high, and current college students increasing worried about the job prospects after graduation, Republicans think they have an opportunity to sway younger voters away from the president this time around, the Associated Press says. Read
May 11, 2012, 9:31 am EST
President Obama had a very good night with George Clooney.
The Ocean’s Eleven star hosted a private fundraiser for the president at his Los Angeles home Thursday night, raising almost $15 million for the president’s re-election campaign, Fox News reports.
The event drew high profile creative talent including Robert Downey Jr., Tobey Maguire, Jeffrey Katzenberg and Barbara Streisand. Read