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View Diary: Romney Invested in Swiss Francs, Hedged against US Dollar. (84 comments)

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  •  Agreed but what's Romney's point here? (6+ / 0-)

    It's to make money. Not make it easier to manufacture in the US. It's to make himself a hell of a lot of money.

    •  Either way, I have a hard time seeing (8+ / 0-)

      how currency hedging is unpatriotic or some nonsense.  If it leaves a dent in the GE, I'm all for leveraging this and in that case will fully support the "prudent investment means you hate America" meme, but substantively it's silliness.  

      Having said that, Mittens's reply - that this was just a hedging strategy - doesn't make a whole lot of sense.  He could buy Swiss Francs just as easily in a US brokerage account.  Not sure what his advisors were thinking, unless there's some credit risk thing they were trying to mitigate (maybe Swiss banks were at less risk of failure?  Again, that doesn't sound right, since UBS really took it on the chin during the crisis).

      Certainly, it warrants more scrutiny.

      •  It plays into the "narrative" (2+ / 0-)
        Recommended by:
        elwior, Youffraita

        that Mitt is a money hungry fat cat who will do anything to make a buck.  It goes against the Repub narrative Pres Obama and the left hate America.

        It's obviously way too early to tell, but I don't see Mitt as big a threat to Pres. Obama as some think.

        Also, I can kill you with my brain.

        by Puffin on Mon Jan 30, 2012 at 02:10:28 PM PST

        [ Parent ]

        •  I actually see his money as a big threat (2+ / 0-)
          Recommended by:
          elwior, KenBee

          I'm expecting GOP with PACs to have a 1.2 bn + campaign against Obama. We've seen what Romney did to Newt (twice). This is something we have to fight against.

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