
In yet another attempt to find fault where there is none, Barack Obama is being forced to to defend allegations of wrongdoing regarding investments he made that raise ethical concerns and conflicts of interest. The problem, the allegations are completely baseless and can be cast aside with simple knowledge of how investments work.
Obama entered a “blind-trust” agreement with his broker, a common agreement with investors and similar to what happens in commodities and futures trading. His broker invested in stocks that he thought would benefit Obama, the conditions of the trust allowed him to do so without consulting Obama. Turns out, some of the investments were in companies that would be affected by legislation that Obama was a part of or had a hand in.
When he found out that these investments could be seen as a conflict of interest (even though they weren’t), he sold them at a $13,000 loss before the story even broke.
So where’s the wrong-doing and why is this such a huge story? Oh wait that’s right, because it isn’t. If anything this story should be an example of his ethical and moral upstanding and his dedication to being open. Instead, it’s trumpeted as a possible window into a dark (though not dark enough) part of who he is.
No one is squeaky clean, including Obama, the difference is that he’s been pretty much an open book since day one (literally) yet his opponents are continually grasping at straws in an attempt to smear him. The Obama train keeps on moving, though the station is far, far away.