Romney on investments: 'Nothing hidden there'
July 10th, 2012
11:46 AM ET
2 years ago

Romney on investments: 'Nothing hidden there'

(CNN) - Following a week of blistering attacks from Democrats over Mitt Romney's personal, offshore investments, the presumptive GOP presidential nominee responded Monday and denied any wrong-doing in his finances.

Saying his foreign investments have been held in a blind trust and managed by a trustee, Romney emphasized he has no knowledge of where his money is being placed.

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"I don't manage them. I don't even know where they are," Romney said in an interview on Radio Iowa.

Obama's campaign recently seized on a report in the magazine "Vanity Fair," which called Romney a "remarkable financial acrobat," with accounts and investments in several places considered tax havens for Americans - Bermuda, the Cayman Islands and Switzerland.

CNNMoney.com: Romney's investments, blind trust, and financial disclosure docs

Romney countered his rival's re-election campaign, which has also been hammering the candidate to release more than the two years' worth of tax documents that Romney has already made public.

While Team Obama hasn't directly charged Romney with tax evasion, they suggest the millionaire may be hiding important details about his finances by not disclosing multiple years of returns.

Romney, however, reiterated that there is no violation of tax law.

"That trustee follows all U.S. laws. All the taxes are paid, as appropriate. All of them have been reported to the government. There's nothing hidden there," the candidate said.

Federal campaign law does not require candidates to release tax returns, but it does require candidates to file annual financial disclosure paperwork, which Romney has done in addition to the taxes he has released.

The presumptive GOP presidential nominee argued Monday that his opponent was simply trying to cause a distraction.

"I understand the president's going to try to do anything he can to divert attention from the fact that his jobs record is weak and he has no plan to make things better," he said.

– CNN's Paul Steinhauser, Ashley Killough and Gregory Wallace contributed to this report.


Filed under: 2012 • Mitt Romney • Taxes
soundoff (168 Responses)
  1. transparancy

    If you have a 401k, then you are just like Romney. I would be willing to bet that you could not tell me, off the top of your head, where all your investments in your 401k are.

    July 10, 2012 12:52 pm at 12:52 pm |
  2. NotFooledByDistractions

    Nothing hidden, eh? Why not release your tax returns and prove it? Sorry Willard, you've done nothing to earn my trust to this point, so blindly believing you is out of the question.

    July 10, 2012 12:53 pm at 12:53 pm |
  3. Rudy NYC

    David wrote:

    I would much rather have a successul businessman and former Governor as President than a former community organizer.
    --------------–
    I would rather have someone who loves his neighbors than someone who's conspiring to get rich off of his neighbors.

    July 10, 2012 12:53 pm at 12:53 pm |
  4. Pam from Iowa

    Wow! This guy is sooooooo rich he has no idea where his money is!!!!

    July 10, 2012 12:54 pm at 12:54 pm |
  5. Vote the Tea Party OUT in 2012

    I'm from Missouri so you have to SHOW ME!!

    July 10, 2012 12:55 pm at 12:55 pm |
  6. charlesName

    Fare tax to all. And if companies want to leave this great country then tax them even more to bring there product back here to sell to us. It's time the workers get a break. Corporation have had the biggest profit in history while the workers have fell. This is all dew to the bush tax cuts. There where about 8 million people fell under poverty while bush was in office. We need to wake up and see that the plan bush and romney has don't work for the most like the workers of this great country. Obama 2012

    July 10, 2012 12:59 pm at 12:59 pm |
  7. v_mag

    He deserves to be hounded just like the tightie righties hounded (and continue to hound) the President.

    Rob-money should answer these questions:

    Where was he born?
    Who are his parents?
    Where are his essays and term papers and report cards from elementary school?
    Exactly, to the penny, how much money does he have and in which banks is it located?
    How about that stash under the mattress?
    What color is his skin, really?
    How many wifes does he REALLY have?
    Has he ever visited the planet Kolub, and what passport did he use?
    Where was he on the night of October 14, 1975, and who was that woman with him?

    The people have a right to know!

    July 10, 2012 01:01 pm at 1:01 pm |
  8. Al-NY,NY

    Nothing to hide Flip? Then lets see. You said the same about the birth certificate

    July 10, 2012 01:07 pm at 1:07 pm |
  9. v_mag

    David said:

    In a global economy many people invest where they get the best returns. It would be stupid to not do so. Romney, as many others do, take advantage of all legal tax loopholes. It would be stupid not to do so. I would much rather have a successul businessman and former Governor as President than a former community organizer.
    -
    Davy boy, pull your head out. Who do you think created those "legal tax loopholes"? THE RICH GUYS LIKE ROBMONEY through the influence they wield in Washington! It's called corruption!

    And name one "successful businessman" who has ever been even a half-way decent president. Bush II maybe? That's who you'll be getting again if Robmoney wins, because Romney = Bush.

    July 10, 2012 01:07 pm at 1:07 pm |
  10. AJ 513

    Anyone else think a guy who says he hasn't a clue where his millions are should be seen as responsible enough to run the country?

    July 10, 2012 01:09 pm at 1:09 pm |
  11. Eric

    Romney isnt hiding anything! He's an idiot and he cant hide it if he wanted to.

    July 10, 2012 01:09 pm at 1:09 pm |
  12. Abeslom

    It is customery for all presidential candidates to release their past tax years. I don't know why Romney refuses to release his taxes and offshore account detials unleass he has something to hide.

    July 10, 2012 01:12 pm at 1:12 pm |
  13. Namejkane fl SEND THE THREE TIME LOSER romney HOME AND MAKE IT FOUR.

    I bet romney the clown is checking his vp fiances,so why should we expected any less from the clown in chief !!!

    July 10, 2012 01:12 pm at 1:12 pm |
  14. sumedha

    Wow , another way to hide money from taxes.

    1. blind trust
    some people even give up american citizenship to avoid pay taxes. I know you cannot do that.
    you need to have us citizenship to be a president.
    Let elect mitt romney as our president , he will be the first crook to be the president.
    i vote for him.

    July 10, 2012 01:13 pm at 1:13 pm |
  15. BROCK LANDERS

    Um, i like this guy the more i red about him, he invests Very very wisely and maximizes his WORKING income that helps everyone, investing in hedge fund means that money is put into working capital. Anyway you libs would not know what this means – he's a businessman, we need him desperately as our president, not this fool we have now...

    July 10, 2012 01:13 pm at 1:13 pm |
  16. SilverBack

    I can tell you exactly where all my investments are. They are not 401's as I invest in real estate, although the economy is in it's sownturn, it will swing back, then I'll cash out, 10-12 yrs frm now.

    July 10, 2012 01:14 pm at 1:14 pm |
  17. Ancient Texan

    Obama and company will attempt to float any kind of diversion they can dream up to divert attention from the economy, the unemployment disaster, Solyndra, Fast and Furious, and Holder attempting to allow rampant voter fraud.

    July 10, 2012 01:14 pm at 1:14 pm |
  18. AudieHO

    So when is Obama going to release his school records?

    July 10, 2012 01:14 pm at 1:14 pm |
  19. KeepinItReal

    Oh, okay, so he doesn't know if his investors are robbing him blind. Right, and the sky is falling.

    July 10, 2012 01:15 pm at 1:15 pm |
  20. jk in MN

    If you aren't hiding anything, you REALLY shouldn't have any trouble releasing your past tax returns. You sound like a used car salesman saying "trust me" Sorry – I say "Show me", Slick Mitt Romney!!!!!

    July 10, 2012 01:15 pm at 1:15 pm |
  21. Governor 47th in Job Creation (excluding jobs off-shored to China)

    Once again the pesky facts don't align with Willard's version of his timeline. His Bermuda shell company was in place before his "blind" trust. Dude, Willard, just come clean. GOP really needs a do-over. More and more is getting exposed on their lead clown.

    July 10, 2012 01:15 pm at 1:15 pm |
  22. Common Cents

    Hmm, if there's nothing to hide why was everything moved into a blind trust the day before he took office in MA?

    July 10, 2012 01:15 pm at 1:15 pm |
  23. noteabags

    Romney doesn't have accounts in Bermuda, the Caymans, or Switzerland to avoid taxes. He just wanted to send his money on vacation. Nothing wrong with that.

    July 10, 2012 01:16 pm at 1:16 pm |
  24. MRK

    Romney has SO much money – he doesn't even know where millions of it is, or what it's invested in! What a tough life! Hope he becomes our President and doesn't know where all our funds went to, either! Military pensions? Aww heck i don't know, i don't manage that – don't know where it is. Sorry.

    July 10, 2012 01:16 pm at 1:16 pm |
  25. sumedha

    if nothing to hide , why hide

    throw out all your tax filings like your farther.
    Show america you are a trustworthy and honest person.

    July 10, 2012 01:16 pm at 1:16 pm |
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