Skip to comments.On Obama Adviser’s Disclosure Form: ‘Bermuda’
Posted on 07/10/2012 11:48:05 AM PDT by Sub-Driver
On Obama Advisers Disclosure Form: Bermuda
A lot of attention has been focused lately on Mitt Romneys 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 Obamas top advisers too.
Valerie Jarretts financial disclosure form filed May 4 lists a line of credit from a Bermuda insurance company valued between $100,000 and $250,000.
Weve asked the White House what exactly this mark is, and were waiting to hear back.
In the meantime weve 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 doesnt 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.
Jarretts filing is available here the part in question is in Schedule C.
(Excerpt) Read more at abcnews.go.com ...
Second Obama fact checking post I’ve seen today originating from ABC.
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...~!
I'm sure the administration is busily preparing the appropriate paperwork.
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.
Well there's a shocker.