Obama team hits Romney over financial disclosures
April 6th, 2012
11:37 AM ET
10 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. Dominican mama 4 Obama (the real one)

    Hate to say it but this is the ONLY way to deal with these "only-I'm-entitled bullies". You gotta make sure they KNOW WITHOUT A DOUBT that you will jump knee-deep in their stuff, and give as good if not better than you get. They start perceiving you as a "high-roader" unwilling to tumble in the dirt with them every once in a while and they willj ust continue to be more outrageous in their attacks. The difference between them and us is that we attack WITH THE TRUTH!
    Nip it Team Obama!!
    Fired up and ready to go!!

    April 6, 2012 11:45 am at 11:45 am |
  2. Anthony

    A person wrote:
    "The choice is simple. If you want to see what is happening in Greece right now, in our streets, then keep voting for the Democrat Socialist Party. If you want a future where this country is fiscally sound and creating jobs at the rate it should be, then vote Republican. THIS election will be your last chance because the country will most like not survive or be able to recover from another 4 years of Obama and the Democrat Socialist Party. Choose wisely America. Your childrens future depends on it."


    The CBO projects that if Congress stands pat, which means letting the Bush tax cuts expire, keeping Obama's health care law (The CBO projects that the health care law actually will reduce the deficits, because it has a revenue component), and no more doc fixes, the deficits will disappear by 2016. In other words, the Bush tax cuts and the doc fix, which started in 2003 and has been renewed every year since, are causing the deficits. Fellow Americans, if you want your country not to end up like Greece, stop voting for Republicans (including Romney) who are determined to add even more unpaid-for tax cuts.

    April 6, 2012 11:48 am at 11:48 am |
  3. Publius Novus

    Wouldn't it be more accurate to refer to Romney as a "former businessman?" After all, he hasn't been a "businessman" for the last six years. He's been running for president full time for the last six years.

    April 6, 2012 11:49 am at 11:49 am |
  4. Miranda Powell

    Obama is sounding desperate. Lets look at Obamas record (or lack there of). Afraid much......

    April 6, 2012 11:50 am at 11:50 am |
  5. Dave

    Can a brother get all up in this ALECgate 1st.. Thanks to Scalia & Roberts & Kennedy, they made it real easy for Mitt to go to the Koch Brothers & ask them, Can a filfthly rich mormon get all up in STEALING this election. Why yes the Koch Bros, said.. Its called ALEC, American Legislative Exchange Council & is funded by the Koch Bros & Rove. The Sh-s hittin the fan & 3 sponsors of ALEC went bye bye, Kraft, Pepsi, & Coca Cola, with Walmart falling next. TBC!!!!

    April 6, 2012 11:51 am at 11:51 am |
  6. mario

    no need to talk about his faith,,,, everything is there,,, hide his is best choice

    April 6, 2012 11:51 am at 11:51 am |
  7. Dave

    While Romney is following the letter of the law, he is not following the spirit of the law. Way to take advantage of the loopholes, Mitt. Why won't you be intellectually honest with the voting public? What ARE you hiding?

    April 6, 2012 11:54 am at 11:54 am |
  8. Obama's Snake Oil on Sale - Git yur lies and deceit here!!

    YEAH BABY!! Lay down that smoke! Roll in those mirrors!! Snake oil for everybody! Let's talk abou totally irrelevant tripe so I don't have to talk about the record unemployment for record time, record debt, record deficits, sky rocketing gas and food prices. I'm totally scarewed if the election focuses on my record so expect me to be laying down smoke on a daily basis. You all might want to invest in a gas mask because it is going to be non-stop.

    April 6, 2012 11:55 am at 11:55 am |
  9. CaliMatt

    Seriously...this is our attack plan? This is pathetically weak as something to run with. Now I'm worried about November if this is the fire we're trying to stoke to win.

    April 6, 2012 11:56 am at 11:56 am |
  10. rightytighty

    The choice is clear.
    A successful business man vs a failed community leader.

    April 6, 2012 12:00 pm at 12:00 pm |
  11. Investment Advisor

    More diversions from Americas real problems. Thankyou Mr. President for being so benign in your 3 years in office. Pathetic!

    April 6, 2012 12:00 pm at 12:00 pm |
  12. vic , nashville ,tn

    To boost the economy and bring the unemployment numbers down we need a investor

    Romney investments are out side the country , he don’t care about us

    April 6, 2012 12:00 pm at 12:00 pm |
  13. Dave

    We gonna get all up in Mr Personalitys refusing the disclousures from Bain, Yes There is PROOF that what this company does is shut down Us companies & move then to China. But I wanna talk some more about ALECgate. These nice brothers Koch decided the wanted to lobby for a thing called Stand your ground. Yea Trevon a 17 year old being shot & the killer not EVEN BEING CHARGED, courtesy of Karl Rove. TBC!!!!

    April 6, 2012 12:02 pm at 12:02 pm |
  14. Obama's Snake Oil on Sale - Git yur lies and deceit here!!

    My plan of frustrating people out of the workforce is working marvelously. Helps bring the unemployment rate down to give the illusion of progress. Even better, all those people end up on my government dole so I got them hooked now. Just keep handing out the goodies and you'll vote for me. Don't ya just love it when a plan comes together?! Now back to the smoke machines...

    April 6, 2012 12:06 pm at 12:06 pm |
  15. Lynda/Minnesota

    "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."

    Old "money-bags" doesn't know where his money is invested? Keep shaking that magic Etch A Sketch, Mitt ...

    April 6, 2012 12:06 pm at 12:06 pm |

    O'bamas hashtag on twitter failed. #Whatsromneyhiding turned into #Whats Obama hiding. Including just about everything.

    April 6, 2012 12:10 pm at 12:10 pm |
  17. Truth and Nothing But the Truth

    Four years in office, trillions spent, trillions of debt accumulated and all they can say is "There is more work to do?"!!

    Time to take the shovel away from the inexperienced community organizer to stop him from digging the country deeper and deeper into the abyss. At this rate we'll spend the next DECADE at record unemployment levels. The ONLY way the rates are coming down is because people are dropping OUT of the workforce.

    April 6, 2012 12:12 pm at 12:12 pm |
  18. Dave

    Ok, Back to ALECgate. Willard knows he does not have a snowballs chance in hell in winning in Nov. Keep in mind the Quarter BILLION he says he is worth is a very, very low Estimate & he HIDES that money in overseas accounts. We all know this is true. He has been planning with Karl Rove & the Koch brothers to fix swing states by REPRESSING minority, poor, hispanic & elderlly votes, yes the ones that are pulling all the D,s. Mitt is a true slimeball, & as UN-American as you can get. TBC

    April 6, 2012 12:13 pm at 12:13 pm |
  19. SUBS 4 VOTES

    Willard is NOT like his father. At least daddy dearest disclosed his information.

    April 6, 2012 12:14 pm at 12:14 pm |
  20. Fair is Fair

    @ Lynda –

    "Old "money-bags" doesn't know where his money is invested? Keep shaking that magic Etch A Sketch, Mitt ..."
    Lynda, Mitt has stated, and independent sources have confirmed, that Romney's fortune is in a Blind Trust. So that's exactly right – he does not know where his money is invested.

    April 6, 2012 12:16 pm at 12:16 pm |
  21. kay

    Why go back to the same failed policies that brought us financial foes? Mitt who? a momorn? really? is that what you can come up with? He could be president of the Cayman Island because that is where his money is. PLEASE!

    April 6, 2012 12:17 pm at 12:17 pm |
  22. Auzzie

    I cannot wait to see the previous years of Romney's tax returns.

    There seems to be a lot of secretive and clandestine financial moves and accounting in the Romney portfolio

    April 6, 2012 12:18 pm at 12:18 pm |
  23. Wire Palladin, S. F.

    Mittens will not release any of his Bain records. If he did even the right wingnuts would not vote for him.

    April 6, 2012 12:19 pm at 12:19 pm |
  24. Anthony76

    I like how some of u posters call Romney a successful biz man and Obama a failed community leader. Seriously, what news have you been reading? Let's play trading places w Obama and Mitt and let's see how well each fares. Here's a hint... Obama didnt inherit his wealth from daddy, nor did he reach success gutting American companies. I'll take the guy with 3 years of actual Presidential experience versus the guy who has been running for 6...

    Keep the country recovering, keep a Republican out of office.

    Obama '12
    Hillary '16

    April 6, 2012 12:20 pm at 12:20 pm |
  25. Eddie The Barber

    It's gona be a rough and tumble campaing. I like the comment above that Mitt has been running for president for 6 years and is now a "former businessman". Applying that to Obama – he has been president for over 3 years so he's a "former community organizer." That boils it down to the man who is president running against a many who wants to be president. For me – I've simplified the whole thing. I could never ever vote for a rich man named Mitt with a son named Tagg. WTF it that all about?

    April 6, 2012 12:22 pm at 12:22 pm |
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