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. ThinkAgain

    Romney is hiding his financial info because a) It proves even more how out of touch he is and b) the excuse that what he's done is "legal" dramatically highlights how the rich have skewed laws to favor them at the expense of our country.

    Obama/Biden 2012

    April 6, 2012 07:47 pm at 7:47 pm |
  2. poopmeister

    I find it highly offensive that Romney, being part of the big business machine, didn't restructure his company to include retraining initiatives. He could have been part of the solution and set up training programs to help the unemployed gain experience for new or hard to fill jobs. Instead he blames the economic situation on "failed" policies from the Obama administration, instead of pointing in the direction of Wall Street and big business cronies that could care less if Main Street sufers as long as they are making money.

    April 6, 2012 07:52 pm at 7:52 pm |
  3. Bekah

    This is so silly....like Obama isn't amazingly wealthy. Looking at our current economic situation, I'd love to have a good, smart businessman as president. Don't see why that's so bad.

    April 6, 2012 07:55 pm at 7:55 pm |
  4. Dead-On-Arrival-Candidate

    Hide-and-seek campaign is hiding your tax evasion records while seeking to be president.

    Is Rmoney so retarded to think that hiding money in Swiss and Cayman Islands accounts will be ignored by the electorates?

    Epic Fail!

    April 6, 2012 08:48 pm at 8:48 pm |
  5. Ray E. (Georgia)

    WHEN IN DOUBT, RUN IN CIRCLES, SCREAM AND SHOUT ! Obama is throwing everything up on the wall, hoping something will stick. Exactly what does Obama and the Liberals want? Your money so they can blow it on Welfare "Queens" ! Obama sees Rome burning to the ground and is grasping at straws. What else is new.

    April 6, 2012 08:49 pm at 8:49 pm |
  6. Joe, San Diego

    More to being a President than making money folks Romney has no other discussions other than what he believes is the current president's failures... no military talks, no gay marriage talks, no legalizing pot talks... BORING all of the Republicans are bores... Bush had two terms to mess up the country give Obama two terms to clean it up

    April 6, 2012 08:57 pm at 8:57 pm |
  7. Nick

    I don't care what he is hiding as long as it is not illegally obtained. After his flip-flop-flip-flop.... , I won't vote for him anyway.

    April 6, 2012 08:58 pm at 8:58 pm |
  8. Nick

    @tony. It ain't going to happen. The SC allowed the SuperPAC and people can contribute any amount of money to politicians. So, some thug with filthy money can come in, help elect a guy and pretty much hold a gun to that guy's head to make him do what he pleases. That is SC's wisdom for you.

    April 6, 2012 09:01 pm at 9:01 pm |
  9. Larry L

    @brian in dc

    "Release your college transcripts Obama and your real birth certificate."
    College transcripts? Really? Why don't we ask the Harvard graduate for the films of his last colonoscopy? You've been shown what the State of Hawaii issued for everybody – verified by then Governor Lingle – a Republican! John McCain told you people you made the Party look foolish with this racist nonsense and he was correct. You "birthers" represent the modern version of the KKK – the fearful, undereducated, and hateful bigots of this era.

    Romney's financial data has become something working Americans, who pay a higher percentage of their earning in taxes than Ronmey, want to see. Is he just a fat-cat looking to fuel his ego? The other candidates do it as a normal part of the vetting process. What's he got to hide?

    April 6, 2012 09:02 pm at 9:02 pm |
  10. CanadaONE

    scary fellow – if he ever becomes president the USA is OVER – but that does not scary him because he comes from the ladder day saints – not the old saints the new ones like Romoney – yes he wants to be a saint and claim victory for the Mormons – I can see it now – the land of the free and the home of the brave momons

    if the Mormons do take your country – let us know we can have you
    join Canada where all faiths are respected but do try to take over parliment

    April 6, 2012 09:02 pm at 9:02 pm |
  11. CanadaONE

    oh!! forgot – Romoney is good example where you don't have to have any brains – just money – what a discrace to true democracy...

    April 6, 2012 09:04 pm at 9:04 pm |
  12. FIELD1stSGT

    Colorodan – Hmmmmm! And now 6 trillion deeper in debt and job losses at an all time high. Brothers, cousins and friends of his staff corperations billions dollars richer from Obama's stimulus, why yes things are certainly looking up. And a President who stands and challenges, plus threatens the Supreme Court of the United States, I would say he is one more ignorant African who needs to go back to Kenya and chase flies for a living.

    April 6, 2012 09:08 pm at 9:08 pm |
  13. latina

    Yea like Obozo, is hiding his real birth certificate to show he was born in Kenya. He is patheic of a president and a disgrace. Mitt 2012 all the way. Can't wait for Novembe 2012, this will be a GREAT CHANGE.

    April 6, 2012 09:23 pm at 9:23 pm |
  14. Marvin

    Sorry if this sounds bad, but Obama does not have the right to call anyone out for not releasing anything.
    It is like the pot calling the kettle...

    April 6, 2012 10:05 pm at 10:05 pm |
  15. mark trought

    the GOP is the party of cavemen as they like their ice age relatives have frozen brains and cannot reason and come to coherent conclusions. They lack the basic intelligence of modern man that is why they are bigots and racists within their ranks

    April 6, 2012 10:08 pm at 10:08 pm |
  16. Randy, San Francisco

    Not surprised that Romney is hiding something. He is a member of the Wall Street/Bank one percent wealthiest Americans. Funny his wife doesn't feel wealthy with 250 million dollars. Explain that to the average hard working American.

    April 6, 2012 10:14 pm at 10:14 pm |
  17. nolimits3333

    What was in the Swiss bank account, Mr. Romney?

    April 6, 2012 10:24 pm at 10:24 pm |
  18. Pedrons

    "Easy Rhino"!! the transcript is not stashed in a volt in Cayman nor in Switzl Just need to place a simple call to his school and explain why you need the transcript. Obama is just brilliant for most

    April 6, 2012 10:40 pm at 10:40 pm |
  19. Boo Obama

    Major Nidal Hasan guns down 14 brave serve members 2 1/2 years ago, and STILL to this day is getting full pay, benefits and a comfortable stay in prison, and yet a Marine, who actually served his country abroad, exercises his freedom of speech while not in uniform and is threatened to be discharged within weeks? We need to save this nation while we have one, and it starts with warriors such as Gary Stein. Our nation's defenders are not drones, contrary to popular belief.

    April 6, 2012 10:59 pm at 10:59 pm |
  20. Kenny

    I'm sure that Obama is hiding far more then Romney. Just look at Romney can you get any more squeaky clean.

    April 6, 2012 11:06 pm at 11:06 pm |
  21. jb

    Mr. Obummer, please do tell why your justice department opposes the new voter ID law in SC but require a State Issued photo ID to get into the department of justice building.

    April 6, 2012 11:16 pm at 11:16 pm |
  22. migeli

    Mitt is a firm believer in America even though he keeps all his money in Switzerland.Just in case I guess.But talk about keeping secrets?This guy is the best.Except that him and Ryan want to take away your medicare, Social Security and the U.S. Postal service.Government programs that have never let us down!

    April 6, 2012 11:20 pm at 11:20 pm |
  23. DJ

    What is ROMNEY hiding? Where are the transcripts from Obama's college days? Where are his writings when he was a law "professor"? Where is the explanation as to why he no longer holds a law license? etc. etc. etc.

    April 6, 2012 11:23 pm at 11:23 pm |
  24. Lizzie

    So what is Pres.Obama hiding, that he has to accuse Romney of doing something that's NOT true, but then I'm not surprised, he has to deflect from his policies , Pres.Obama has been distorting the truth and he is pretty good at it.

    April 6, 2012 11:28 pm at 11:28 pm |
  25. migeli

    Romneys story has a lot of holes in it just like his Swiss cheese account.Moderate that!

    April 6, 2012 11:35 pm at 11:35 pm |
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