UPDATE ON OBAMAS’ HAWAIIAN ESTATE PURCHASE: Property has been bought on Oahu...

HillBuzz ^ | October 25, 2012 | Kevin DuJan

[2ndDivisionVet]

Full title: UPDATE ON OBAMAS’ HAWAIIAN ESTATE PURCHASE: Property has been bought on Oahu in the name of a blind/family trust (but it’s a different house than we originally thought it would be)

[Crimson Elephant]

You get a pension even if you serve for 2 months in some positions? What a deal.

Team Obama can read the “real” internals of the polls and directions and it is perfectly logical they know they are in a no win position.

[Buckeye McFrog]

I presume this means Thomas Magnum is going to be evicted from the guest house?

[skeeter]

I hope they choose the Waianae side.

[The Sons of Liberty]

Obama’s young staffers (many of whom are under 30) are thus facing a situation where they will be out of work when Bathhouse Barry leaves office

Well, the only thing that Barry has been good at -

PUT PEOPLE OUT OF WORK!

My heart bleeds for the junior commies.../sarc

[Nepeta]

Recall Michelle Obama's "taste" in clothes and imagine what a custom mansion designed to please her will look like--the boob belt of architecture.

I don't even want to think about how she will decorate the place.

[marron]

a “blind trust” or a “family trust” setup for the Obamas with the help of wealthy Chicago banker Penny Pritzker has purchased a property for Barack and Michelle and their family to move into when they depart the White House in January 2013

I always figure that no one bribes an ex-president. So when ex-presidents set up trusts and institutes and foundations to manage donations after they leave office, I always assume they are just laundering their subterranean money into daylight. Likewise when they accept partnerships at several million a year with no duties, same thing. Or have books ghost-written for them that no one buys but they collect multimillion dollar advances, same thing.

Rumor has it that a large share of the funding is coming from the Saudis

No doubt but it would be money from his accounts in Saudi banks, again, being laundered into daylight.

But thats just me.

[Paine in the Neck]

My favorite part:

" My source in the Pritzker orbit says that these days Penny “looks like Hell, is not sleeping, and cries a lot because she’s under so much stress” because she can’t raise the money like she used to. Many wealthy Chicago families have told her they’re not writing “one more damn check to him” and that backing Obama to begin with was a giant mistake."

Well, my favorite, after the bit about Miss Marion punking Barry's sorry ass(ets).

[Chuckster]

They would fit right in in Nanakuli. But it will be Lanikai most likely.

[Jane Long]

Kevin DuJan’s writing is very entertaining. He’s hilarious when describing 0’s family. So glad they won’t be settling in Maui. Oahu can have these losers.

[Dan(9698)]

How to get them as far away from Chicago as posible.

[skeeter]

Probably, since thats the area they chose to vacation. Too bad.

[justlurking]

A blind trust is used to manage assets without the beneficiary's knowledge. The Romney's assets are in a blind trust. The point is to remove any conflict of interest.

A family trust is used for estate planning and asset protection. You can gift an interest in your family trust to your kids each year, staying under the gift tax exemption, but retain the assets. By appointing a third party the general partner (and making family members limited partners), the general partner controls the trust. This protects the family trust from liability claims, because the general partner simply refuses to pay the claim.

Residences are typically put into a personal residence trust. There are estate-planning reasons for this, but it is frequently used to maintain anonymity for the owner. The property tax rolls say that the trust owns the residence, instead of an actual person.

Whoever is buying this estate can potentially have some gift tax problems if they simply give it to the Obama's. So, I suspect they will instead "rent" it to the Obama's for a nominal fee. If that is the case, I suspect that it will be a simple revocable trust to obscure the grantor of the trust.

[rawcatslyentist]

Moose and the gals will live in Hi. Bathhouse Barry is headed for man country baby!

[Jyotishi]

"I hope they choose the Waianae side."

Sumo wrestler Konishiki's mansion on the Waianae coast:

[silverleaf]

Sorry but Oahu is a very small place for such big egos as the obamas ...and shoppers like mooshelle and her grifter mother

I can’t believe they want to raise their girls on Oahu...not exactly a place with a lot of black folk and black culture. Mooch and her mother are not exactly into folks who are not black

Oahu schools for the girls? (Punahou probably)

If they move to Oahu I think they must plan to keep a govt plane at their disposal for frequent jetsetting

[9YearLurker]

He gets some good dirt, too.

Also has a fertile mind for putting pieces together, including sometimes when they don’t quite fit or belong.

[Excellence]

Thought you might be interested in this.

[wxgesr]

Concur....live in a rusted old pickup truck and a tent.

[Excellence]

Thought you might be interested in this.