Showing posts with label offshore. Show all posts
Showing posts with label offshore. Show all posts

Thursday, August 23, 2012

Romney's Bain Capital Files Leaked - Updated

OffshoreAccounts

950 Pages Obtained by GAWKER

 Bain isn't a company so much as an intricate suite of steadily proliferating inter-related holding companies and limited partnerships, some based in Delaware and others in the Cayman Islands, Luxembourg, and elsewhere, designed to collectively house roughly $66 billion in wealth in its many crevices and chambers.
. . . The documents are exceedingly complicated. We don't pretend to be qualified to decode them in full, which is why we are posting them here for readers to help evaluate—please leave your thoughts in the discussion below. We asked an attorney who specializes in complex offshore corporate transactions, including ones involving Cayman Island entities, to review them and help us understand them. (We also asked the Romney campaign. It hasn't responded yet.)
The full set can be read here.

Equity Swaps, AIVs, and Mitt Romney's Other Tax-Dodging Tricks

Mitt Romney's Endless ‘Retirement' Package

How Mitt Romney Puts His Money Where Obama's Mouth Is

Derivatives, Short Sales, and Mitt Romney's Other Exotic Financial Instruments

Mitt Romney Is the National Enquirer's Banker


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From the SOUR GRAPES File:



Gawker's Worthless Bain Files
I totally understand why a stack of papers marked "confidential" seems exciting, particularly for those without a deep understanding of private equity. And I'm not taking any position on if Romney did or didn't duck taxes at some point, either related or unrelated to Bain holdings. All I'm saying is that Gawker has posted tons of smoke without any fire.
~ Dan Primack writing for Fortune on CNN Money

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Romney fund bankrolled Adelson
A fund Romney invested in lent the GOP mega-donor $3 million, according to newly uncovered documents
~ Headline on Salon.com

The Fog Of Finance Works Against Mitt
Simply reminding people that he is playing eleven-dimensional chess with his money to minimize the taxes he pays doesn't exactly endear him outside the big-money cadre who support him anyway.
~ comment by Stevemb on Daily Kos

And so, the door opens for Rmoney's dropping out.. After the convention, giving him the needed excuse, and allowing Ryan the opportunity to move up to Presidential candidate, bypassing all the destructive nomination campaigning, and putting the Koch's REAL candidate out there.
The Plan is working perfectly!
~ comment by Fordmandalay on Daily Kos

Even if no smoking gun, it reinforces how completely disconnected Mitt's life is from the average American's. His wealth is a maze of off shore accounts and tricks. Astronomical wealth and epic obfuscation of that wealth. It would, in a sane world, disqualify one from being president. Using foreign countries to hide taxes needs to be described, at all times, as unpatriotic.
~ comment by proverbs for paranoids on Daily Kos

Ruh Roh!
Gives quite a bit of credence to Reid's "Anon" source. Somebody involved with Bain doesn't want Romney anywhere near the white house.
Whomever that is, God Bless you buddy.
~ comment by T.L. Dragon on Politico













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Official Statement from Romney Camp

Mitt Romney left Bain Capital in 1999 for the Olympics. As we have already disclosed, his retirement agreement included entering into passive investments in Bain entities for ten years, through 2009. In 2002 he created a blind trust in accordance with Massachusetts ethics rules after he was elected Governor. Governor and Mrs. Romney do not control the investment of these assets, the investment decisions are made by a trustee.
~ Romney Spokesperson, Michele Davis, via Politico

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Wednesday, August 8, 2012

Swiss Miss Romney Girl Song

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Romney Girl Official Website
In 2010, Miss Swiss left Geneva (after safely depositing all of her own money into a Swiss bank account) and moved to Searchlight, Nevada, where she joined a small Swiss expat community of retired yodelers and milkmaids. It was there she bumped into Senate Majority Leader Harry Reid while burning his book “The Good Fight” during a local sheep-shearing festival. Miss Swiss told Senator Reid about Mr. Romney’s tax avoidance “because I thought it was so funny that a Senator would actually think that rich people pay taxes! So silly!” Miss Swiss has not heard from Mr. Romney since he began his Presidential run, but believes he is following her on Twitter @realromneygirl.

In her free time, Miss Swiss, AKA Romney Girl, enjoys watching sitcoms like Fox & Friends, climbing the Swiss Alps, making cheese fondue, and listening to her favorite pop band Aqua.

Romney Girl recently gained public attention for inadvertently informing Senate Majority Leader Harry Reid that that Mitt Romney had paid zero taxes in the last ten years.

Lyrics Via Alternet
A hilarious new video introduces us to fictional character "Romney Girl" and allows us to put the "who's Harry Reid's source?" rumors to rest:

Miss Swiss "Bank Account" hails from Ostermundigen, Switzerland and is the proud daughter of a Nestle Chocolate factory worker and a regionally respected Cuckoo clock maker. She worked as a tax consultant for offshore bank accounts at UBS in Geneva, Switzerland from 2008-2010 where she first met Mitt Romney, who would frequently show up to the bank unannounced and throw $100 bills up in the air while shouting, "Thank God for Amnesty!"

I’m a Romney girl, in a Romney world.
Life is taxless. It’s fantastic.
Silver tip your hair, tax shelters everywhere.
Outsource nation, Bain is his creation

(Mitt)
I'm Mitt Romney, let's go party

(Miss Swiss)
I'm a Romney girl, in a Romney world.
He's so plastic, it's fantastic.
Silver tip your hair, tax shelters everywhere.
Outsource nation, Bain is his creation

(Miss Swiss)
He's a boss, millionaire, with accounts everywhere
Won't disclose, all the dough, that he's banking

(Mitt)
You can't see, Ann agrees, we hate transparency
If you knew, we'd be screwed, spanky-spanky


(Miss Swiss)
He is rich, you are poor,
If he wins, you're uninsured

(Miss Swiss)
I'm a Romney girl, in a Romney world.
Life is taxless. It's fantastic,
Silver tip your hair, tax shelters everywhere,
Outsource nation, Bain is his creation

(Mitt)
I'm Mitt Romney, let's go party,
I'm Mitt Romney, let's go party,
I'm Mitt Romney, let's go party,
I'm Mitt Romney, let's go party

(Miss Swiss)
Sell your stock, I won't talk, dodging taxes with ease,
Represent, one percent, he will do as we please.

(Mitt)
Come jump in, Wall Street friends, let us do it again,
Write the laws, they'll applaud, let's go party.

(Miss Swiss)
He is rich, you are poor,
If he wins, you're uninsured

(Mitt)
I am rich, oh the joy!
If I win, you're unemployed

I'm Mitt Romney, let's go party,
Come on Romney, let's go party,
Come on Romney, let's go party,
Come on Romney, let's go party!

(Miss Swiss)
I'm a Romney girl, in a Romney world.
Life is taxless, It's fantastic.
Silver tip your hair, tax shelters everywhere,
Outsource nation, Bain is his creation

(Miss Swiss)
Oh, Mitt I'm having so much fun!

(Mitt)
Well Miss Swiss, we're just getting started!

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Tuesday, July 3, 2012

Romney Exposed by Vanity Fair


Vanity Fair: Where the Money Lives

“What Romney does not get,” says Jack Blum, a veteran Washington lawyer and offshore expert, “is that this stuff is weird.”

. . . Despite numerous entreaties from Vanity Fair to Bain Capital to address on the record points in this article with which it might disagree, the firm refused to do so and instead provided this statement: “When politics overwhelm fact, some will distort or cherry-pick our record and launch unfounded allegations and insinuations. The truth and the full record show that Bain Capital operates with high standards of integrity and excellence in compliance with all laws. Any suggestion to the contrary is baseless."

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Today we’re learning more about Mitt Romney’s bets against America. Vanity Fair’s raising important questions about Romney’s offshore accounts in foreign tax havens, including his mysterious corporation in Bermuda, his funds in the Cayman Islands, and the Swiss bank account he opened. The question is, why? Was he avoiding paying his fair share of U.S. taxes? Was he hedging against the dollar? Until he releases his tax returns from that period, Americans will never know. This raises serious questions. If he has nothing to hide, why doesn’t he just release his tax returns?
~ Obama campaign spokesman Ben LaBolt via Politico

President Obama’s attacks on Mitt Romney have been proven false time and again. As job growth slows, manufacturing activity stalls, and our economy continues to sputter, President Obama knows he can’t make a legitimate argument for another term in office, so instead he is trying to tear down his opponent. This is just the latest example of President Obama and his political machine saying or doing anything to distract from his abysmal record over the last four years.
~ Mitt Romney Spokeswoman Andrea Saul via Politico

This pattern of elusiveness is hardly confined to Romney’s finances, but rather defines his public life. When he left the governor’s mansion, Romney staffers made a concerted effort to eradicate digital data by removing hard drives and deleting emails, despite the state’s public record laws. Romney is also the first major presidential candidate in almost 15 years who has refused to reveal his bundlers, the mega-donors who help fundraise for campaigns. Altogether, it’s made him one of the most secretive presidential candidates in modern history, leading Democrats to argue that he must be hiding something.
~ Alex Seitz-Wald on Salon

















Mitt Romney retired from Bain Capital in February 1999. He has had no involvement in the management or investment activities of Bain Capital, or with any of its portfolio companies since that time.
~ Bain Capital spokesperson in email to Mother Jones







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