Posted on 01/27/2012 6:26:49 AM PST by Jay777
In last night's debate it was brought up that Romney had stock in Fanny Mae and Freddie Mac among other controversial investments. He told the audience that his stock was not picked by him and it was taken care of through a blind trust. Hands clean? Well, not quite. Here is what Romney said in 1994 about blind trusts.
"The blind trust is an age-old ruse," Romney told the Boston Globe in October of that year. "You give a blind trust rules. You can say to a blind trust, don't invest in properties which would be in conflict of interest or where the seller might think they're going to get an advantage from me."Romney's personal financial filing showed that Romney's trust owned some potentially controversial stocks, including China Petroleum & Chemical, which has links to Sudan, and several gambling companies(including MGM and Harrah's, which were sold).
Hat tip again to Dan Riehl who says Romney's lack of character is what will keep out of the White House.
Furthermore, Romney didn't tell the complete truth about his investments of Fannie and Freddie....more...
(Excerpt) Read more at stoptheaclu.com ...
Romney isn’t responsible for anything. I haven’t seen the ads, somebody else put them out. I haven’t seen the ads, even though it says I approve this message at the end. I have a blind trust, so I don’t know what I invest in.
And should he get into office again: I didn’t know that was in the bill. Oh, well. I’m not responsible.
Mitt Romney: well oiled weathervane. Thank you Jon Huntsman for a very apt description of this man.
Judas Priest, this “blind trust” stuff is just commonplace what pols do so they don’t get accused of insider trading. Bush had one, Gore had one, this is nothing new. You put all your investments in a blind trust and don’t watch what the trustee does. Basically you just allow the investments in the trust to be invested (or not depending on how much attention the “trustee” is paying) without any input from the pol. The trustee is usually some pedantic financial institution—or don’t people know financial institution all have trust departments? These days almost anybody who even wants a simple has a trust with it, a pour over will into an intervivos trust set up for their benefit and to keep them tax protected, whether they need a trust or not. It’s a legal fad. The individual is the trustee, the beneficiary and the settlor.
These dopey media members all have them I can guarantee you that.
Sheesh. People are such jack asses. The blind trust for a pol is a good thing not an indication that they are rich beyond imagination.
Would that Frank and Pelosi had their stuff in a blind trust instead of profiting off insider information learned in office and used to accommodate their own greed.
Don’t miss this one.
What an ass.
Lolz. Mitt Romney: little sound, little fury, signifying nothing.
Dan Riehl is doing some good research on Romney right now. Rush mentioned him yesterday.
AND Huntsman is related to willard with the huntsman family fortune intertwined with Bain/Romney.....SO what was happening in NH? Was Huntsman the straw candidate to catch the anti Romney vote??????
Mitt gives Newt so much ammunition to work with. I can't believe some of the garbage Mitt throws out there. "I don't know what I invest in" or some such nonsense. "I don't know what's in the ad." Newt pounced on it, but I wish he had really hammered Mitt on it.
I don’t know whether or not it’s true, having not seen the trust documents that name the trustee; but I read that Romney’s trustee is one of his personal lawyers, not an arms length institutional investor.
even worse, lawyers know NOTHING about investing
Romney’s “blind” trust is run by his personal lawyer so I’m not buying that it is blind at all!
But government ethics experts and election lawyers told ABC News that Romney’s trust might not be quite as blind as he has long maintained. That’s because Romney placed his quarter-billion dollar family fortune in the hands of his personal lawyer and longtime associate Bradford Malt.
Federal officeholders are required to either fully disclose all their financial holdings and any possible conflicts of interest, or place their holdings in a blind trust. Robert Kelner, a Republican election lawyer in Washington, D.C. with no ties to a current presidential campaign, explained the federal rules governing those blind trusts. “The Office of Government Ethics requires that a financial institution be appointed as the trustee and that the financial institution not be controlled by or have done business with the candidate,” said Kelner. “It would preclude you from hiring your favorite lawyer as the trustee.”
This guy ducks personal responsibility like the plague. And they think women voters won’t notice this and will support him??? HA!
Oh yeah, he comes off like a used car salesman, but Newt gives me the creeps too. I like Santorum the best
He sounds just like 0.
I’m for Newt. Santorum, to me, doesn’t have a chance, and isn’t what our country needs right now. Romney won’t take responsibility..but Santorum gets on my nerves with his holier than thou attitude. Even Romney didn’t comment on Newt’s ex-wife’s interview with ABC..but Santorum jumped all over it. He showed his own shallowness when he did that. I wanted to scream at the TV, “Hey Rick, some of us fall short..but not you..you perfect fool!!” GO NEWT!
http://www.freerepublic.com/focus/f-news/2838590/posts
From what I am finding Romney’s investments into Fannie and Freddie were NOT done by a ‘blind trust’.... as he publicly stated. Liberals are going to clean his clock.
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