Mitt Romney is So Patriotic he Won't Burden American Banks With His Deposits

Mitt Romney is So Patriotic he Won't Burden American Banks With His Deposits

§ What is in Romney’s offshore accounts? He has sheltered much of his wealth in tax havens such as Bermuda, but he has not disclosed anything about those investments. For instance, Shaxson writes, “There is a Bermuda-based entity called Sankaty High Yield Asset Investors Ltd., which has been described in securities filings as ‘a Bermuda corporation wholly owned by W. Mitt Romney.’ He set it up in 1997, then transferred it to his wife’s newly created blind trust on January 1, 2003, the day before he was inaugurated as Massachusetts’s governor…. Romney failed to list this entity on several financial disclosures, even though such a closely held entity would not qualify as an ‘excepted investment fund’ that would not need to be on his disclosure forms. He finally included it on his 2010 tax return. Even after examining that return, we have no idea what is in this company, but it could be valuable, meaning that it is possible Romney’s wealth is even greater than previous estimates.”

§ Why is Romney still being paid by Bain Capital? He left the firm more than ten years ago. Given its varied investments, could the fact that he is still being paid by them create a conflict of interest in office? Shaxson writes, “Though he left the firm in 1999, Romney has continued to receive large payments from it—in early June he revealed more than $2 million in new Bain income. The firm today has at least 138 funds organized in the Cayman Islands, and Romney himself has personal interests in at least 12, worth as much as $30 million, hidden behind controversial confidentiality disclaimers.”

§ Why has Romney opened foreign bank accounts, such as a Swiss account with $3 million that appeared on his 2010 returns but not his 2011 returns? How much has kept in offshore accounts in the past? Was he betting against the strength of the US dollar? How might such financial interests affect his policies as president?

§ Are Romney’s blind trusts really blind? Their trustee is Bradford Malt, his personal lawyer. Malt invested $10 million of Romney’s money in the Solamere Founders Fund, co-founded by his son Tagg and Spencer Zwick, a Romney campaign fundraiser. Malt’s and Romney’s claims that this is coincidental and Romney knew nothing of it strains credulity. If Romney knows what his blind trusts invest in, how might his investments influence his political decisions?

§ How much has Romney invested with Elliot Associates? Shaxson reports, “Elliott buys up cheap debt, often at cents on the dollar, from lenders to deeply troubled nations such as Congo-Brazzaville, then attacks the debtor states with lawsuits to squeeze maximum repayment. Elliott is run by the secretive hedge-fund billionaire and G.O.P. super-donor Paul Singer, whom Fortune recently dubbed Mitt Romney’s ‘Hedge Fund Kingmaker.’ (Singer has given $1 million to Romney’s super-pac Restore Our Future.) It is hard to know the size of these investments. Romney’s financial disclosure form lists 25 of them in an open-ended category, ‘Over $1 million,’ including So­lamere and Elliott, and they are not broken down further.”

§ How did Romney build a $102 million Individual Retirement Account (IRA)? Did he avoid paying taxes in doing so?

Romney has never had the pleasure or responsibility for doing work, producing a quality product or service, or earning money like most Americans. Nope, Mitt Romney is a vulture in the financial industry. He picks off the earnings of the work produced by others. Mitt is a vulture. One could call him a vulture capitalist, a corporate socialist, a lazy two faced elitist, a crooked con-man, a leach capitalist or a delusional exploiter of the working class. One thing Mitt Romney is not is a good moral American patriot.It is not just time to reject Mitt Romney, it is time to reject the radical conservative movement and its goal of returning the USA back to the glory days when the royalty living up on the hill dictated to the serfs below.


10 Reasons Most People Like Obamacare Once They Know What's Really In It
Some people are suspicious of Obamacare in the abstract, but when it gets to the specifics they tend to like it a lot better.

America Hating Senator Mitch McConnell(R-KY) : I’m ‘Not Convinced’ Congress Should Prohibit Insurers From Discriminating Against The Sick. In the 20th century one of the most prominent features of fascism was social-Darwinism. Long time America hater McConnell is a poster boy for social-Darwinism.