Skip to main content

Chart showing Mitt Romney has only released one tax return in last two decades.
Mitt Romney has released just one year's worth of his tax returns.
Yesterday, Mitt Romney told Radio Iowa's O. Kay Henderson that he didn't know anything about his offshore investments because they were held in a blind trust. "I don't manage them," he said. "I don't even know where they are."

As I pointed out, Romney's statement raised several obvious questions, the first of which was whether he had any of these investments before creating his blind trust. If so, Romney's attempt to wipe his hands clean would backfire because it would become clear he was trying to cover up the truth.

And now, according to public records cited by the Obama campaign, it appears that Romney did in fact hold at least one of his offshore investments before the formation of his blind trust: a Bermuda-based shell corporation formed in 1997 known as Sankaty High Yield Investors Ltd with Mitt Romney as the sole owner.

In a research document, the campaign writes:

The problem with Romney’s claim? The Bermuda corporation—Sankaty High Yield Asset Investors—was registered in 1997 and Romney was listed as the “the sole shareholder, a director, and president” of the corporation. The Bermuda corporation was under his personal ownership until it was transferred into a blind trust in his wife’s name the day before he was sworn in as governor, possibly to avoid disclosure. In fact, the one fulltax return Romney did release shows that he directly owned the company as recently in 2010 and it was not held in his trust.

Mitt Romney’s continued dishonesty on his investments in offshore tax havens and corporations raises serious questions about why he won’t release his tax returns. Only a release of additional tax returns will allow us to see if Romney avoided U.S. taxes with his offshore holdings.

So we now have at least one clear cut example of Mitt Romney making a public statement about his financial history that is clearly refuted by the limited records available for public scrutiny. This should be a wakeup call not just to those who are covering his campaign but also to the public at large. Romney isn't just hiding his tax returns and financial records from public disclosure, he's not telling the truth about the records that have already been released.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site