Obama admits he won't run in 2012, signs post administration book deal
In a move many are saying is an admission he won't have a second term, President Obama has already signed a book deal for his post administration finical gain. The book deal includes a "youth oriented" rewrite of his profane and vulgar autobiography. The autobiography makes frequent use of profanities banned by the FCC in broadcast television, contains frank and explicit discussion of sexual activity and has passages that seem to endorse the use of illegal drugs.
It has also been revealed that Obama owned a seven figure sum in US treasury bonds, but sold most of them them shortly before the recent finical collapse. The deal itself smacks of insider trading, but an investigation during his administration is unlikely.
Due to the short term nature of most book contracts, it's considered impossible for Obama to have signed a contract allowing for an eight year Presidency. There is no word on what will happen to the substantial, some would say obscene, advance Obama is believed to have received should he be assassinated while in office.
1 comments:
The article you link to says that the Obamas sold $500,000 to $1 million worth of Treasury bills (also called "T-bills") in April of 2008. Without giving any reason or evidence, you claim that this "smacks of insider trading." People sell securities many millions of times a day; the burden of proof is on you to explain how Barack Obama's sale of T-bills is in any way suspect.
What you fail to mention is that in October 2008, the Obamas bought between $1 million and $5 million in T-bills. You don't need to be an insider trader to know that the market was doing far worse in October 2008 than it was doing in April 2008. Obama's investment strategy, like everyone else's, seems to be "buy low, sell high."
You also mention that book contracts are generally short-term. I have no idea if that is correct, but even if it is, your claim that this is evidence Obama won't run again does not follow.
As you know, a contract is an agreement between two or more parties. For the average author negotiating a deal with a publishing company, the publishing company holds all the cards. No one can guarantee in advance that the author's book will sell. The publisher assumes risk by paying the author an advance; why in the world would a publishing company voluntarily assume much more risk by agreeing to a long-term contract.
Even you must admit that Barack Obama is not the typical author. Even if you despise him, you know that he has written two bestsellers and is now the President of the United States. Typically, Presidential memoirs sell well. George W. Bush is working on his book right now. Obama has far more power than the average author to negotiate contract terms favorable to himself. One such provision would be the duration of the contract.
As such, your inference of a planned 2012 departure from the Presidency is not supported by the circumstantial evidence you raised. It is also unsupported by any direct evidence.
You attribute several ideas in this post to unnamed sources: "many are saying", "it's considered impossible", "some would say obscene". Out of curiosity, who considers a book contract that looks ahead 8 years to be impossible? As I said before, it may very well be uncommon, but there is no legal bar to making such a contract. It is absolutely possible.
Finally, you mention that Obama has already received an advance (though the article you link to does not say that), but there is no word as to what will happen to the money if he dies in office. If Barack Obama has a will, as he probably does, it identifies beneficiaries who will receive the money upon his death. That's what will happen.
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