Barack Obama’s eight years in office were marked by scandal and corruption.
But no one knew just how bad it was.
Now a new massive pay-for-play corruption scandal has been unearthed and it will leave a pit in your stomach.
GMMB – a D.C. advertising firm that created the commercials for Obama’s two Presidential campaigns – was on the receiving end of $60 million in federal contracts from 2009 t0 2017.
The Daily Signal reports:
“Barack Obama’s presidential campaign advertising agency received nearly $60 million in federal contracts after he took office, according to an analysis by The Daily Caller News Foundation Investigative Group…
… GMMB received a total of $58.4 million in federal contracts from 2009 to 2017, according to USASpending, which tracks federal spending through contracts, grants, loans and other forms. GMMB’s annual revenue is an estimated $32.6 million, according to D&B Hoovers, a private business research and rating firm.
Jim Margolis joined fellow Democrat Frank Greer in GMMB in 1985. Since then, Margolis has been one of the Democratic Party’s top media strategists.
Margolis was lead advertising strategist and adviser for former President Bill Clinton and Obama, and for the 2016 Democrat nominee Hillary Clinton, which delivered considerable profits for GMMB. Margolis also produced the 2008, 2012, and 2016 Democratic National Conventions, and was the co-producer of Obama’s two inaugurations.
Obama’s presidential campaign, “Obama for America,” disbursed to GMMB upward of $700 million in media buys for his 2008 and 2012 campaigns combined, according to filings reported by the Federal Election Commission. GMMB confirms this amount on the company’s website, stating Margolis oversaw “each cycle’s half-billion dollar advertising effort.”
But it gets even more sickening.
The insider crony dealing involved the Consumer Financial Protection Bureau (CFPB.)
The CFPB was established when Barack Obama signed the Dodd-Frank bill into law in 2010.
And Elizabeth Warren created the agency in 2011.
The vast majority of the federal contracts awarded to the GMMB came from the CFPB.
The Daily Signal also reports:
“The overwhelming majority of the $58 million in federal contracts funneled to GMMB came from the Consumer Financial Protection Bureau, created by Sen. Elizabeth Warren, D-Mass., in 2011. The Consumer Financial Protection Bureau awarded the advertising agency a whopping $43.7 million, about 75 percent of its total federal funding stream.
The second-most lucrative government account for GMMB is a community service agency founded by Bill Clinton, the Corporation for National and Community Service, which awarded it $13.1 million worth of contracts. Other agencies that awarded contracts to the company include the Department of Homeland Security ($1.6 million) and the Department of the Interior ($24,000).
The Consumer Financial Protection Bureau’s outsized role in payments to the advertising agency may fuel new controversy about the embattled bureau, which Warren came up with when she worked as an Obama appointee in the Treasury Department.”
Warren creating an agency that funneled tens of millions of dollars in tax payer money to the well-connected runs completely against the populist image she has tried to build.
It will surely be an issue if she runs for President in 2020.
Do you think it will doom her chances?
Let us know in the comment section.