There are ALOT of people I've met myslef that are so upset at the idea of a black president who has muslim ancestry, that I wouldn't be surpeised if people will do things like this to take him down. If someone faked this - just the mention of it would sink Obama - even if after a week it was all cleared out.
Sinking a campaign is not hard. Find a girl willing to claim rape by a candidate - his campaign, if the story ever runs, is dead. Find a minority willing to claim overt racism - the candidate's campaign can be severely effected if the media runs the story.
And honestly, even if Obama was gay, WOULD HE HOOK UP WITH THAT UGLY DIGUSTING MAN?? Even as a straight guy, I can discern when a man is ugly.