Obama team hits Romney over financial disclosures
April 6th, 2012
11:37 AM ET
2 years ago

Obama team hits Romney over financial disclosures

(CNN) - President Barack Obama's campaign wasted no time Thursday jumping on a report about Mitt Romney limiting certain disclosures of his financial investments. And Mitt Romney's campaign was equally quick to fire back.

Using the president's Twitter account, as well as accounts from top campaign staff, Obama's re-election team pushed a story by the Washington Post, even starting the Twitter hashtag: #WhatsRomneyHiding.

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"So what's Romney hiding?" the president's Twitter account (@BarackObama) read Thursday night, urging followers to demand that Romney release more years of his tax returns.

Romney's team, however, blasted Obama's campaign for launching the attack.

"President Obama will do anything to try and distract Americans from his failed record of chronic unemployment, lower incomes and higher gas prices," Romney spokeswoman Andrea Saul said in a statement to CNN.

The Washington Post reported Thursday Romney used an "obscure exemption in federal ethics law" that allows him to avoid revealing the full extent of his holdings in financial disclosures.

According to the Post, Romney took advantage of the loophole for 48 accounts at Bain Capital, the candidate's former private equity firm. By giving narrow descriptions of his holdings, Romney is permitted from fully disclosing the company's underlying assets, the Post reported.

"Romney has made it difficult to know precisely where his money is invested, whether it is offshore or in controversial companies, or whether those holdings could affect his policies or present any conflicts of interest," the article stated.

The newspaper noted, however, that Romney is not violating any rules and that his advisers have certified his financial documents with the Office of Government Ethics.

But that didn't stop Obama's campaign from using it as another way to paint the former Massachusetts governor as an out-of-touch businessman seeking to hide his true wealth.

"Mitt Romney has put his personal financial assets in a black box and hid the key, attempting to play by a different set of rules than any candidate in recent history," Jim Messina, Obama's campaign manager, said in a statement.

The campaign has previously attacked Romney for not releasing more tax returns than the ones he released in January, which only included returns from the years 2010 and 2011.

Romney spokeswoman, Saul, said the candidate's disclosures "completely and accurately describes Governor Romney's assets as required by the law applicable to candidates for president. If (the Office of Government Ethics) had at any point considered any part of the filing insufficient, it would have made this clear."

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Filed under: 2012 • Mitt Romney • President Obama
soundoff (359 Responses)
  1. brsblj

    Obama is asking what Mitt Romney is hiding? Now, that's rich!

    April 6, 2012 04:23 pm at 4:23 pm |
  2. WalkerTR

    Real nice Mr. Obama. Don't act like you're not part of the one percent. On top of that, this a man that also withheld certain documents for political purpose... And yet if everything was on the up and up there, then why is there something sinister here?

    April 6, 2012 04:24 pm at 4:24 pm |
  3. Jerry

    The real question IS: What is Mr. Obama hiding?! For a "guy" that seldom tells the truth, he and his lap dogs have a lot of gall. Before Mr. Obama and his ideologues make this kinds of claims; they should look at themselves in the mirror.

    Now, who is chronic/shameless liar? It's not Mr. Romney, that's for sure!!! By the way, doubt it or not, IAM a life-long Democrat.

    April 6, 2012 04:24 pm at 4:24 pm |
  4. lgny

    Romney has been running since about 2006.

    It's remarkable that he has not sanitized his finances to make him the perfect candidate. You'd expect to see very clean investments with no use of unusual loopholes, generous donations, all designed to make him look like the ideal person to occupy the White House.

    April 6, 2012 04:24 pm at 4:24 pm |
  5. Nodack

    Liberals are this , Conservatives are that. Blaa, blaa, blaa. The cesspool of public diologue. You are dumb. No, you are dumb. Obama is dumb. No Romney is dumb. My dad can beat up your dad. No he can't.

    Sigh.

    April 6, 2012 04:25 pm at 4:25 pm |
  6. Jerry

    Dominican mama 4 Obama (the real one)

    Stop wasting our time and living off the "dole" and go get a job!!!

    April 6, 2012 04:27 pm at 4:27 pm |
  7. iavoterman

    Well, since Romney says he's running on his resume, his business experience, this actually seems like a very true line of questioning. He seems to want to have it both ways. His 'private' business life is why we should vote for him but it's also none of our business. He seems every bit the aristocratic child that George W Bush was. Why do working class Republicans keep falling for turkeys like this?

    April 6, 2012 04:27 pm at 4:27 pm |
  8. Another Day in the Idiot Mines (not the fake whiny rightwing liar)

    Gotta love the delusional rightwing crazies who show up to decry the "nasty lib comments" while ignoring their own, like "Obama hates America." And of course none of the low-information cult members supporting the GOBP can see or admit that the "nasty libs" are using those pesky things called "facts" while the rightwing manure eaters engage in emotional fact-free tantrums..

    April 6, 2012 04:28 pm at 4:28 pm |
  9. fernace

    Seems I recall a hue & cry that practically became a witch hunt, called "the Birther" movement, in which Republican leaders demanded to see President Obamas birthcertificate! Not because he hadn't already been thoroughly investigated or had anything to hide, but because they wanted to discredit him! Here we have a Republican candidate who is not forthcoming w/his financial/tax records, who clearly needs to honestly disclose his holdings to the American public, but chooses to hide behind a law that not only exempts him from disclosure, but encourages him to hide the truth! The question then becomes, how rich is Romney, because it seems his disconnect w/ workingclass Americans is proportionate to his wealth!! Obama/Biden Next 4!

    April 6, 2012 04:30 pm at 4:30 pm |
  10. phil,left of center independent

    The GOP is making it really hard to vote for them ..I have been telling my teabagger friends for the last year ..that the GOP canidates will only highlight their corrupt ways and will be their own worst in enemy in November..glad to see Obama's team snatch this up ..now don't let go ..if they can keep the attack on without wavering over Mutt and his secret financial dealings they will be sure to hit the jackpot

    April 6, 2012 04:31 pm at 4:31 pm |
  11. mbh

    It's sad what short memories people have. We have a president who has very few accomplishments to his credit over the past 3.5 years, and nothing significant to offer up for a 2nd term. He finally signed into law one of the first bi-partisan pieces of legislation to try and encourage job growth. Not because he wanted to, but because he has to have something to discuss at the next campaign stop.

    Obama is a fraud – he has made a college education more difficult for students to obtain; he won't consider drilling or the pipeline from Canada, which continues to place the financial burden for energy on the back of the American pulic; he has disgraced the US in the eyes of the Middle East; his socialist plan for healthcare is a financial fiasco; and the ls endless.

    Obama wasn't qualified to be President 4 years ago, and the proponderance of eveidence is clear that he is not qualified to continue for another 4 years.

    April 6, 2012 04:36 pm at 4:36 pm |
  12. Rosslaw

    Who else hides money in the Cayman Islands other than Mittens-hmmmmm? At least his way he doesn't have to pay taxes for things like supporting the troops-like he knows any active duty military.

    April 6, 2012 04:37 pm at 4:37 pm |
  13. Ilya

    @Ben, it is not about "destroying health care" it is about following the constitution and rule of law, which Obam calls an "inconvienence." I think there are some good things in the healthcare law, but I don't think it was done the right way and too many bad things were included.

    April 6, 2012 04:37 pm at 4:37 pm |
  14. Fair + Balanced

    Willard, we do not need to know all the details, but how about the money you've hidden from the IRS in off shore account.

    April 6, 2012 04:40 pm at 4:40 pm |
  15. edbonfla

    Romney should tell Obama that we have been waiting over three years for Obama's college information/grades, passport information, and the like. Can't imagine that this non-transparent occupier of the Oval Office is accusing someone of "hiding" things.

    April 6, 2012 04:42 pm at 4:42 pm |
  16. GI Joe

    I think the baggers got kicked off FOX comments so they come over here to spread their negative crap. We don't want no baggers on liberal posts. Go kiss $arah'$ ar$e and shut up with your hate and fear-mongering.

    April 6, 2012 04:42 pm at 4:42 pm |
  17. D45

    Typical non-sense being posted. People say BHO is self made, really? Obama has nothing to hide? Then why did he fight people trying to get a view of his birth cert? I am not a birther. Obama said there would be transperancy in his administration, I am still waiting? But facts are facts, Why does he blame State and local governments and the construction industry for being a drag on the economy. So what has he done? Rammed a health care reform down our throats, which will cost everyone more to cover the homeless, welfare and others. And the best of all, BLAME BUSH....Bush is guilty for everything that went wrong before he was pres during his presidency and for all that will go wrond in the next 100 years

    April 6, 2012 04:42 pm at 4:42 pm |
  18. pam

    Kind of say something about Kind Obama, when he can't talk run on his record and instead attacks a man that isn't even the republican nominee as of yet.

    April 6, 2012 04:44 pm at 4:44 pm |
  19. dreucalypt

    Is it any surprise that Romney is doing his damnedest to avoid paying his fair share in taxes? He's acting like all of his own rich supporters, the guys who gave the millions to his superpac.

    April 6, 2012 04:48 pm at 4:48 pm |
  20. Ilya

    For all you that use the term "teabaggers," I guess that makes you the "teabaggees."

    April 6, 2012 04:50 pm at 4:50 pm |
  21. Charlotte

    Obamahaters are such dung heads.

    April 6, 2012 04:53 pm at 4:53 pm |
  22. phenoy

    "President Obama will do anything to try and distract Americans from his failed record of chronic unemployment, lower incomes and higher gas prices".

    Can you belive the outright LIES repugs say? The GOP?Teaparty doesn't have a plan, if they have their way, only corporate bigwigs will make money and export jobs ot China. Wait, also the oil guys are going to get rich. Right now, employment is going up so whose policy is that? Gas prices? GOP oilmen and their wall street specualtor pals drive prices up, so that is another GOP operation they try to pass the blame to the President while raking in the cash. LOw incomes, are you kidding? The GOP is trying to DESTROY the middle class with their policies, where is the income in that for the common American?

    Bottom line: nothing but LIES come out from the Repugs. All lies.

    April 6, 2012 04:56 pm at 4:56 pm |
  23. Shardik

    "Romney took advantage of the loophole for 48 accounts at Bain Capital, the candidate's former private equity firm."

    If he starts by hiding things from us already, where will he end up?

    April 6, 2012 04:57 pm at 4:57 pm |
  24. dave

    if Obama can make living in private secter like Romney instead of wast tax paye's money. He will not go through all those non-sense.

    April 6, 2012 04:58 pm at 4:58 pm |
  25. Easy Rhino

    Why is it something as basic as Obama's transcripts are sealed? What is he hiding?

    April 6, 2012 04:58 pm at 4:58 pm |
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