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. Emperor Vadik, CA

    Big mistake by Romney...

    ...you NEVER say "I'm not hiding anything...

    ...if anything, you just call the statements of the opposition ridiculous...

    ...by saying "I'm not hiding anything", you are getting defensive...then again, when Obama starts throwing punches you have no choice but to run, duck and cover....

    July 10, 2012 01:29 pm at 1:29 pm |
  2. Chuck D

    He's hiding that he's a high level Freemason.

    July 10, 2012 01:29 pm at 1:29 pm |
  3. DS

    When I had a 401k, I couldn't tell you where exactly that money was invested, but then I'm not running for president.

    Of course when business fat cats like Romney started shipping jobs overseas to make a quick buck, my meager 401k money kind of went away and his banker buddies took care of the rest.

    July 10, 2012 01:30 pm at 1:30 pm |
  4. George

    Obama – releases Official long form of Birth Cert. – Republicans say, we don't believe it.
    Romney – refuses to release financial docs – Republicans expect us to take Romney's word?

    I think not!

    July 10, 2012 01:30 pm at 1:30 pm |
  5. Mike McGloin

    All that Romney said above, makes him sound like Bush, except Bush would end what he said with "trust me".

    July 10, 2012 01:31 pm at 1:31 pm |
  6. andrewstl

    ok then showing the returns definitely should not be a problem

    when will that happen?

    July 10, 2012 01:31 pm at 1:31 pm |
  7. lolo

    Please, this man is hiding something. He does want you to see how he made those millions off of shipping jobs overseas. With no job the last two years, where did he get those extra millions? Wake up America. Now his rich pals in the Hamptons are saying that those without money are too stupid to make descicions. Do not vote for Robme the robot period.

    July 10, 2012 01:32 pm at 1:32 pm |
  8. Billy Davis

    We are not just like Romney. He's running for President so his finances aren't private. If you store your money in Foreign Countries you are NOT qualified to be President of these United States. Traitor!!!

    July 10, 2012 01:33 pm at 1:33 pm |
  9. Nathan

    Ms K.

    Nathan
    by your statement , if they are alive, your parents and grandparent are NOT recieving goverment funding thru Mediaid and other goverment programs; a socialist system...you people talk about western socialism but except US socialist/welfare program funding in a heartbeat...what do you want or you are just brainwashed by fox news and other rightwing nuts while living on welfare yourself...if not, be careful when the white boss man tells you "your fired"
    _________________________
    Ms K the last person I worked for about 15 years ago was Asian not white and now I work for myself now so I am not getting fired. I watch all news as opposed to the liberal loons like yourself. My parents I am sure have used Medicare/Medicaid but my father has also paid a large amount of taxes for the last 50 years so no apologies from me. Their health insurance and their own money has covered a majority of their healthcare. As far as welfare, I was in the military 8 years out of college and that was about as close as I ever felt to being poor. Like most people I have worked my @ss off for every penny so I work hard to keep it from spreading to leaches like yourself through federal taxes.

    July 10, 2012 01:33 pm at 1:33 pm |
  10. Brian in DC

    College transcripts? Wedge issue to influence the weak minded dems who are only concerned with social matters.

    July 10, 2012 01:33 pm at 1:33 pm |
  11. Bill

    So for all he knows, his money could be going to fund the Taliban.

    July 10, 2012 01:35 pm at 1:35 pm |
  12. joe

    Prove it by releasing all of your tax and financial records, governor. Otherwise the rumors and assumptions are only going to grow.

    July 10, 2012 01:35 pm at 1:35 pm |
  13. ouy

    You can tell when he is telling a lie... His lips move..

    July 10, 2012 01:35 pm at 1:35 pm |
  14. Don

    Who cares about Mitt's finances. The issue is not his money, it's that he's a freak and giant corporations are buying his election. If his campaign contributions tell you anything, it's that everything we've thought about the GOP being crooks is true.

    July 10, 2012 01:36 pm at 1:36 pm |
  15. biologixco

    Romney is a TAX SCOFFLAW. Tax evasion is a federal crime.
    Lets see the IRS file on him.
    He is in the IRS' SWISS BANK DISCLOSURE PROGRAM.
    The October surprise?
    Tax evasion charges against Mitt Romney!
    Checkmate. Game over. Obama2012~!

    July 10, 2012 01:36 pm at 1:36 pm |
  16. b

    this is all a distraction by obama. no one cares. but at least it gives obama something to talk about. he can't run on a positive record. When candidate Barack Obama hosted a town hall meeting here four years ago, he decried the “predictable political attacks and demonstrably false statements” of his rival, Sen. John McCain.

    Now, in the throes of a sluggish economic recovery and tight general election race, Obama appears to have resorted to some of the same tactics he once opposed.

    The Obama campaign has been flooding Iowa and eight other battleground states with TV ads attacking Republican rival Mitt Romney for his financial investments and alleged ties to outsourcing.

    Independent fact-checkers have scrutinized several claims in the ads as false and misleading. fact-checkers and the Post have said, contrary to the Obama ad claims, there’s no evidence to suggest Romney had a direct, personal role in the outsourcing or that he would be an “outsourcer in chief” if elected.

    July 10, 2012 01:36 pm at 1:36 pm |
  17. Linda Mash

    If you have nothing to hide then man up like your father did and produce tax statements for at least ten years. A man of honor and wanting to hold the highest seat in the land should be willing to do this.

    July 10, 2012 01:36 pm at 1:36 pm |
  18. AL In Palm Beach County, FL

    Romney's money is not in a 401(k)....

    Don't sale me a banana, and I won't throw a coconut at you.

    July 10, 2012 01:37 pm at 1:37 pm |
  19. RomneyisbadforAmerica

    Sure, Romney isn't hiding anything...as long as you don't consider his SECRET Temple rituals that are just as weird if not more so than Scientology. Ask him about his blood oaths, his belief that he and his family will become Gods after this life. His belief and support of Joseph Smith as a Theocratic President of the United States of America in the 1800's. Yep...he's hiding some stuff...

    July 10, 2012 01:38 pm at 1:38 pm |
  20. Vader

    Really, Mitt? No idea?

    July 10, 2012 01:39 pm at 1:39 pm |
  21. Thomas

    President Mahmoud Ahmadinejad says the same thing about Iran's nucular program .

    'Nothing hidden there'

    July 10, 2012 01:39 pm at 1:39 pm |
  22. julius raynor

    Money is basically put in offshore accounts to avoid paying taxes and thats what Mitt is trying to hide butg its too late now. Ace in the hole for Obama!

    July 10, 2012 01:40 pm at 1:40 pm |
  23. ryan

    So Mitt's either lying or he's a crappy investor. Hmmm.

    July 10, 2012 01:41 pm at 1:41 pm |
  24. Richard

    Romney has been using offshore accounts in Bermuda, Switzerland and the Cayman islands for years, prior to them being in trustee-ship. Romney controlled those accounts directly. Romney refuses to provide tax returns which would detail the activities in these accounts. There's only one reason Romney would refuse to make his tax returns public – he's hiding things. There is no other logica reason.

    July 10, 2012 01:41 pm at 1:41 pm |
  25. Louis

    Of course I would be albe to tell you. It is beyond my comprhension that you would think otherwise. But wait; you actually think yours or my 401k can be compared with Mitts. Please, do us all a favor; do not blindly believe. Try, at least try to become a bit more literate before commenting. Our country needs an educated populus. Not a fearful one.

    July 10, 2012 01:43 pm at 1:43 pm |
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