Notwithstanding the question of how obama came to be worth 10 million dollars, how does a guy who will get a stipend of about 400,000 dollars qualify for 35 million loan to purchace this estate. I wonder if this is part of the stimulus or TARP money,...most of it has not been accounted for.
The property will be owned outright by a trust. There will be no mortgage. The mortgage is the least of it. There will be high utility bills, expensive maintenance and the salaries and benefits of the extensive staff.
Likely, the zer0s will be steered to many profitable investments over the next few years. Each will *write* a memoir for a hefty advance. Probably there will be a movie, at least, there will be an option for one. Licensing of the “O” brand, perhaps. Then there are Board of Director appointments, all of which carry satisfying stipends. Many people would pay handsomely for the right to put the famous ex-President’s name (and that of the former First Lady) on the letterhead as a consultant. She would have no trouble getting a position of note in the fashion world, as an editor of an international rag mag, perhaps. They will be worth 100s of millions in a short time and will soon be able to live on the income of their income.