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On Obama Adviser’s Disclosure Form: ‘Bermuda’
ABC News ^

Posted on 07/10/2012 11:48:05 AM PDT by Sub-Driver

On Obama Adviser’s Disclosure Form: ‘Bermuda’

A lot of attention has been focused lately on Mitt Romney’s offshore finances in places like the Cayman Islands and Bermuda.

But the word Bermuda pops up on the financial disclosure forms of one of President Obama’s top advisers too.

Valerie Jarrett’s financial disclosure form filed May 4 lists a line of credit from a Bermuda insurance company valued between $100,000 and $250,000.

We’ve asked the White House what exactly this mark is, and we’re waiting to hear back.

In the meantime we’ve spoken to tax experts who have said that the filing could be completely innocuous. It appears that Jarrett borrowed money from JPMorgan Chase, which has a subsidiary in Bermuda — not unusual for insurance companies that want to lay off some of their risks. It doesn’t mean that Jarrett sought any sort of transaction from Bermuda, but rather that the bank could be using its Bermuda subsidiary on credit forms.

In other words, routine credit card statements can include references to Bermuda simply because insurance companies have subsidiaries there.

Jarrett’s filing is available here — the part in question is in Schedule C.

(Excerpt) Read more at abcnews.go.com ...


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: bermuda; jarrett; valeriejarrett
Hmmm........
1 posted on 07/10/2012 11:48:09 AM PDT by Sub-Driver
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To: Sub-Driver

Second Obama fact checking post I’ve seen today originating from ABC.


2 posted on 07/10/2012 11:51:06 AM PDT by Huskrrrr
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To: Sub-Driver

WHY DOES OBAMA REFUSE TO DISAVOW HIS STAFFERS ACTIONS?

RELEASE HER RECORDS!

THE FACT IS WE DON’T KNOW IF SHE IS A TAX CHEAT OR NOT OR HOW MUCH OBAMA IS INVOLVED IN THIS ‘SCHEME’ TO HIDE MONEY !!!

BUT ITS THE SERIOUSNESS OF THE ALLEGATIONS...~!


3 posted on 07/10/2012 11:56:57 AM PDT by Mr. K (OBAMA MUST BE STOPPED ROMNEY/GINGRICH)
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To: Huskrrrr
This one went through the trouble of proving an possible explanation for Jarrett, which was nice of them.

I'm sure the administration is busily preparing the appropriate paperwork.

4 posted on 07/10/2012 11:59:17 AM PDT by skeeter
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To: Sub-Driver

This shows how pathetic the Kenyan’s “offshore bank account” attack is. I have no such account but suspect wise financial planners suggest this kind of vehicle to high income types.

Obama must hide from his record, but cannot avoid the landslide loss that awaits him in November. The GOP should be planning how to block a lameduck Kenyan after his arse gets kicked.


5 posted on 07/10/2012 12:01:53 PM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: Sub-Driver
"It appears that Jarrett borrowed money from JPMorgan Chase...."

Well there's a shocker.

6 posted on 07/10/2012 12:23:47 PM PDT by SnuffaBolshevik (In a tornado, even turkeys can fly.)
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To: Sub-Driver

Bump.


7 posted on 07/11/2012 6:45:05 AM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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