UPDATE ON OBAMA BOOK STORY
Comment on the Obama book money from a White House source who did not want his name used.....
"This was in the works for months. Finished the paperwork in January. Not a "book deal". It is just a license from Crown to the children's division covering the existing book. They are abridging Dreams for middle grade and young adults. He is approving the abridgement. Just like dozens of foreign licenses, for instance, that were issued for his books over the years."
WASHINGTON--The Washington Times is reporting that best selling author President Obama lined up a $500,000 book advance deal on Jan. 15, just before his inauguration.
The report, by Christina Bellantoni and Jim McElhatton with Chuck Neubauer contributing said "the advance is against royalties under a deal with Crown Publishing, a division of Random House. The project calls for an abridged version of his book "Dreams From My Father" for middle-school-aged children, according to the disclosure."
The Washington Times reported that a "White House aide said that the deal had been in the works for weeks and that the publisher will abridge the book. The aide, speaking on a condition of anonymity, said the publisher will get half of the money while Mr. Obama will sign off on the final version."
Lynn Sweet is a columnist and the Washington Bureau Chief for the 
RSS feeds 
Email Lynn
Twitter
Facebook
Get Email Alerts:
Talk about, "Take the money, and run!" Mr. Obama hasn't a clue...though he has all fond hopes...of how his presidency will turn-out. So, if any publisher is of-a-mind to offer cash for his "story", it might well behoove him to start cranking-out the saga of his "rise to power"...before the bloom is off the rose, and his "honeymoon" with the nation hasn't quite ended...
Eh, worse has been done. In an age of Madoff, this is the equivalent of jaywalking.
Interesting timing for the book deal, right before taking office, when it would be illegal. What is the impact on his taxes? Bush tax rate or his own upcoming debacle?