Skip to main content

View Diary: Mitt Romney says he knows nothing about his offshore investments (155 comments)

Comment Preferences

  •  Lot in the VF article is being overlooked by media (0+ / 0-)

    Here's just a couple of things:

    Why wasn't there disclosure until 2010?

    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. The director and president of this entity is R. Bradford Malt, the trustee of the blind trust and Romney’s personal lawyer. 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.
    Just how blind is this trust run my Romney's attorney?
    It’s certainly true that under Malt the trusts don’t appear to be as blind as they might be: for instance, in 2010 the Romneys invested $10 million in the start-up of the Solamere Founders Fund, co-founded by their eldest son, Tagg, and Spencer Zwick, Romney’s onetime top campaign fund-raiser; Solamere is now in the Ann Romney blind trust. Malt has said he invested in Solamere without consulting Mitt or Ann and explained he liked Solamere because of its diversified approach and because he knew the founders and had confidence in them.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site