Skip to comments.Romney Failed to Disclose Swiss Bank Account Income
Posted on 01/26/2012 2:32:38 PM PST by Raebie
Mitt Romney's campaign is amending the financial disclosure form he filed in 2011 to acknowledge that a Romney trust earned interest income from a Swiss bank account, a detail that had been missing from the report.
"An amendment is being filed to address this minor discrepancy," a campaign official told ABC News in an email Thursday in response to questions about the apparent omission.
"The inescapable fact is that by releasing over 600 pages of information regarding his finances, Mitt Romney is clearly coming down on the side of disclosure," said Andrea Saul, a campaign spokeswoman, in a subsequent statement. "Any document with this level of complexity and detail is bound to have a few trivial inadvertent issues. We are in the process of putting together some minor technical amendments, which will not alter the overall picture of Gov. and Mrs. Romney's finances as disclosed in August."
The discovery that the Romneys had $3 million in an account with the Swiss bank UBS came only after the Republican presidential candidate released his tax returns for 2010 on Tuesday. The campaign had maintained that it was not necessary to disclose the Swiss account because Romney's money manager, Brad Malt, had shuttered it in early 2010.
(Excerpt) Read more at abcnews.go.com ...
Interest on 3 million isn’t a “trivial insignificant” oversight.
Is Romney amending his return or is he amending the paperwork he made public?
Yeah, you said it. The country-clubbers are in full-tilt media gonzo to destroy Newt.
And this is hilarious. Since when is $3 MILLION a “minor discrepancy”? Wow. This is the guy who wants his paws on the federal budget?
Actually, it was the whole damn $3 million that Mitt didn't disclose. They only found it because of the roughly $1,700 in interest he disclosed for it on his tax records, which he didn't disclose on his ethics forms. This is a major bone-headed move on Mitt's part. Woot Woot!
It was a financial disclosure form, who cares. Its not like he did this on a tax return. $1,700.00 - now its desperation at this point.
The DNC is compiling all the “dirt” on Romney and Newt.
The RNC is twiddling their thumbs.
And WHO still thinks this wont matter to the public?
A presidential candidate with a Swiss bank account with millions in it?
Who gives a damn? Man, I am starting to hate this election season. It has turned into a circus.
Only a fool would put all his eggs in one basket (the basket being US banks... with Obama in charge of things).
Mitt's my last choice (well, second to last behind Paul)... but this sort of rhetoric is pure nonsense.
Why would Romney put millions of dollars in a Swiss bank account?
Why does it matter? Because Romney would be just another Ford, Dole, McCain loser in the general!
To hell with the RINOS!! Run a conservative!!
NO MORE RINOS!! NO ROMNEY, NO WAY!!
Rebellion is ON!!
Live free or die!!
Willard has a packaging problem with this one. Does he put a blue or grey suit on it and smile? This will not play well in the general election so why put him in that position.
Wanna bet Newt has a comment about this during this evening?
“So that’s where that 3 million went!”
I hate it when that happens.
Obviously you've never had to work in, for instance, the financial industry, or any other industry that requires disclosures like this. If you had, you would be familiar with the requirement to fill out forms like this, and if you leave out a $3 million account in a foreign country, they usually fire you for that. And sometimes, the SEC brings charges.
Just sayin', it's kind of a big deal.
Well, interest on 3 million could be a “trivial oversight” if you are a multimillionaire who doesn’t need every dollar to support your family... I certainly wouldn’t overlook it but Romney is uber-rich and well,,he knows my pain/s
Yes, that's true - but only a bigger fool would expect Swiss bank account information to be ignored in a presidential primary battle. Or in the general election.
It's as though Romney thinks of himself as untouchable, like the "real" Democrats.
Aloof, disengaged and out of touch.
And a far cry from finding some crunchy french fries under the car seat.
I know I put thost tots somewhere...
According to the news, Romney earned only $1,700 on this account. If this is true, it is insignificant
it is on Drudge and I came over to tell all my conservative friend and fellow Freepers - starte screaming at Newt and Romeny and tell them if you can’t include something about Obama in every advertisment then you are not smart enough to be president. For example, newt to talk about romneycare and romney could talk about people that make more enemies than friends.
If Romney only earned 1,700 on a three million dollar account then that's the last guy I want running the country.
According to the news, Romney earned only $1,700 on this account. If this is true, it is insignificant
I’ll bet you $10,000 the average voter disagrees.
I will attempt to answer. Given this administration for practical purposes got the majority Swiss banking community to 'identify' their account holders, the liberals know where Romney has every nickel and dime stashed.
There is a direct correlation of the liberals funded performance art called 'occupy' set in motion with the anticipation that Romney was the GOP anointed candidate. Funny thing if anyone has been paying attention it was Wall Street that bought and paid for the BamBamKennedy election and are still keeping his campaign coffers filled... bailouts, stimulus, etc....
Romney is running his campaign not unlike Obama has always campaigned, destroy the opposition before the voting begins. AND Romney is so confident his wealth won't be used against him by the covetous left that he says he got rich using the same methods as Obama did in the autobail out.
The GOP establishment does not like 'outsiders' that get in the way of their candidate and they started day one back November 2008 election building roads to get their pick nominated. The rest of US are suppose to join in NOW to lay the bricks so their candidate can take control of spending.
Romney and his campaign want to win the supposed independents... snicker.... how stupid they are to think those independents are not going to run in horror when they get the 'breaking news' headline Romney has hidden Swiss bank accounts. IT is a childish game and we are about to find out which 'bully' bullies best.
True, he should have known that Obama would instantly break the law and use government resources to make a political attack.
It is time for a new Party. The GOP can stick it as far as I'm concerned. Unless any candidate on the ballot is a true Tea Party conservative, I will NOT give them my vote in 2012.
At today's interest rates, it pretty much is. And, if you have $250 million, it's easy for a tax drone to lose track of one of your accounts. I don't think Romney personally reviews every single line item on a huge return.
Tell the general public that.
They wont give a damn about his reasoning.
They are going to see themselves struggling while the guy running for president of the U.S. is stashing money in Switzerland and then “forgets” it’s there.
It looks bad no matter what the spin is.
If you made $21,000,000.00, $1,700.00 is pretty close to what "slips down between the sofa cushions", comparable to about $3.00 to a person who makes $40,000.00.
Oh it was on his returns, it was on his ethics disclosure forms he "forgot" he had a three million dollar swiss bank account.
Doesn't even come close to Obama's Rezko connection, or Michelle's hospital "job" after senator Obama sent our money their way.
That would be roughly 7 days interest on $3,000,000 at 3% interest. How long did he have this account? Was he paying a premium on the money to keep it from being noticed?
Cayman Islands, Swiss Bank Accounts, Government subsidies, loves to fire people,... Mitt Romney - A Man of the People.
Does this mean that Romney is now liable for paying up to 50% of his undisclosed foreign account balances as a penalty to the IRS?
Probably at least 300K...perhaps more...depends on his details. Whatever it is, to most of us that is NOT insignificant nor trivial. I flunked math 27 times, I think but I know $1700 is incorrect.
So if he went into Saks Fifth Avenue and stole a $1700 wallet that would be the same as if the guy who makes $40,000 went into the 99 Cent store and stole 3 candy bars?
Is that how this works?
Well I have not heard one word from the Romney camp about Obama's ill gotten gains. NO instead Romney said his gains were just like Obama bailing out the auto industry, 'cash for clunkers' included. Romney is playing his own game of politics and forgetting, leaving out the reporting of all things 'evil' Swiss bank accounts, in some circles would be called an 'ethics violation'.
Agree. Where are they? I know you are supporting Newt now, but where are the conservatives? Why are we settling for him? I just don't get it.
Who is more conservative than Newt and is currently running for president on the GOP ticket?
Santorum isn't even running in Florida (and on his record he is more liberal than Newt). He's toast. Everyone else has dropped out.
Who are you going to support, the Anti-Establishment Newt or the Establishment Romney?
Newt is a pro-life, small government, strong defense, Reagan conservative. Wants to gut government, drastically reduce taxes and spending, neuter the Fed and the EPA, restore the constitution and the bill of rights especially the first, second and tenth amendments, defrock our black robed rulers, restore religious freedom and stop the wholesale slaughter of the innocent unborn!!
If what's reported on Drudge is true, $1,700 is indeed trivial to a millionaire.
I am going to support whoever is running against Obama. Period. Any one of them would be better than an Obama second term.
I am blown away by the number of freepers here who claim they will stay home if their guy doesn't get the nomination.
Obama Out is job one.
I'll add to that question: How can he have a Swiss bank account when I know Swiss citizens living here are forced to close their Swiss accounts while legally residing in the U.S.?