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. D.

    Romney is sickening.

    April 6, 2012 11:37 pm at 11:37 pm |
  2. parkmore

    Obama: we don't care. I lost $50K in my house and the economy is still bad. You promised to fix the economy, but you failed. I don't care if Mitt is rich or not, he worked very hard for it and we should get opportunities to do the same

    April 6, 2012 11:38 pm at 11:38 pm |
  3. CueBallSTL

    What is this prurient interest Obama has in Romney's finances? Romney has complied with all requirements regarding disclosure, and clearly, the man is rich. We even have a very good idea of how rich. Beyond that is really no one's business.

    April 6, 2012 11:45 pm at 11:45 pm |
  4. Kent

    He made 40 million dollars during a recession!!! Of course he's hiding something! lets not be idiots and make the same mistake we made in 2000. Electing wealthy business men for President...and then again in 2004...BE SMART AMERICA!!!

    April 6, 2012 11:52 pm at 11:52 pm |
  5. Grover Dill

    Unfortunately, politicians take for granted that most of us won't be savvy enough to spot even the most obvious ad hominem rebuttal, as was Romney's. Let the rhetoric flow...

    April 7, 2012 12:11 am at 12:11 am |
  6. manistee49660

    Still hard to believe their are morons still posting for Obama to post his birth certificate and college transcripts.

    April 7, 2012 12:28 am at 12:28 am |
  7. manistee49660

    Do people really think that McCain and Palin would have done a better job with the economy and etc. if they had won? lol

    April 7, 2012 12:29 am at 12:29 am |
  8. aksdad

    Here's a good answer for Obama and the public: "It's none of your d@mned business." I don't care about Obama's income and I don't care about Romney's. It has absolutely NOTHING to do with their qualifications. Unless someone can show that a candidate cheated on his taxes or didn't pay taxes–as was the case with several of Obama's staff–it's irrelevant to public office. Romney is right to answer with Obama's record because that actually IS relevant.

    April 7, 2012 12:35 am at 12:35 am |
  9. rasjr1957

    Remember a vote for a republican is a vote for a stronger and more powerful China. more jobs for the slaves of china more debt for the american people. Reagan was bad Bush worse and these 2 romney and santurum are worse yet

    April 7, 2012 12:43 am at 12:43 am |
  10. Investment Advisor

    @ Anthony76.... Spoken like a true bleeding heart liberal that spews irrelevant crap that he heard from someone rather than doing ones homework. Thats why I respect you lefties so much..... Your analysis is so well researched. Again, pathetic!

    April 7, 2012 12:51 am at 12:51 am |
  11. dan5404

    Of course it's something he doesn't want American voters to know about. Otherwise he'd release it.

    April 7, 2012 12:52 am at 12:52 am |
  12. Republikooky

    BAIN CAPITAL likely invested in government funded enterprises, bankruptcies, and overseas foreign corporations that outsource huge volumes of American jobs to foreigners, no doubt. Besides the loop holes in terms of taxes, he clearly made millions off the backs of hard-working Middle Class Americans and massive outsourcing and bankrupcy schemes that fed his group huge benefits not to mention government funded enterprises. Its not American Enterprise as Romney says....its essentially the raping of America. Combine that with his Romneycare agendas and GOP....its called HYPOCRISY!

    April 7, 2012 12:55 am at 12:55 am |
  13. Investment Advisor

    @ Jerry regarding DM4O...Thankyou!!! A month ago I stated the same directive to this person. Obviously she does not work and lives off Obama $$$ or has a government job getting paid wages provided by the taxpayers while she wastes the day on the Ticker blog. Pathetic supporter of a pathetic President!

    April 7, 2012 12:58 am at 12:58 am |
  14. John

    I want to see exactly how much money AIPAC has pumped into the superpacs of BOTH OF THEM!!!

    Funny that Israel lobbies have more influence, than our own vetrans organizations.....

    April 7, 2012 01:00 am at 1:00 am |
  15. bspurloc

    show us your wealth mittens... u cant erase that off the etcha sketch

    April 7, 2012 01:18 am at 1:18 am |
  16. Tom

    Only an AH would bring up Obama's birth certificate at this stage of the game. The GOP seems to be full of AH's.

    April 7, 2012 01:23 am at 1:23 am |
  17. david mann

    Someone explain to me why conservatives seem to be such tight anus, filled with vitriolic, vituperative, seething-with-animus feelings about anything or anyone that isn't like them. Oh...and I watched "Game Change" recently. BULLSEYE! Just thought I'd mention it.

    April 7, 2012 02:16 am at 2:16 am |
  18. Morpunkt

    Team Obama is jealous.

    April 7, 2012 02:24 am at 2:24 am |
  19. R.Merrell

    Romney should release all of his tax returns for at least the past 10 years. Why not if he has nothing to hide and nothing to be ashamed of ? The man has no core. He will say anything to please the audience he's speaking to even if it directly contradicts what he said yesterday or last week or last year. Being a venture (vulture) capitalist does not mean he's qualified for the Presidency. Being President entails a lot more than being a business man. Ronald Reagan was an actor and that was, and is, just fine with Republicans including Romney. George W bush was pretty much a failed businessman – again no problem for Republicans. Romney touts the free market yet has a real problem with the government not being able to control or influence gasoline prices. He and the GOP want it both ways. They don't have any trouble propping up and supporting oil companies with government subsidies but healthcare for people who need it is bankrupting the country. Romney's only priority is helping the wealthiest become even wealthier. He can't relate to anything or anyone else.

    April 7, 2012 02:24 am at 2:24 am |
  20. ryan

    why people agree with socialist obama or the white version of obama is beyond me. if either of them win you can expect this country to implode

    April 7, 2012 02:58 am at 2:58 am |
  21. josh rogen

    this from a president that has made millions while in office and has yet to disclose anything at all about anything, just hides behind his PR bio and no one seems to care...even though I disagree with most of what the GOP stands for I vote for any republican over this phony manipulating slime ball and the crooks that surround him

    April 7, 2012 03:07 am at 3:07 am |
  22. Rob

    Everyone please stop the partisan hackery... You are ALL bad for this country... Please only offer sensible and credible solutions or critiques, or please do not post!!!

    I read these posts and see maybe 1 or 2 with some insight or meaning, the rest are futile attempts by people far below there pay grade making vicious, non helpful, and enraging comments...

    It really makes us as a society really seem stupid.

    We are better than this, I am, and so are you!!!

    April 7, 2012 03:21 am at 3:21 am |
  23. jane

    Mitt Romney- Doctor Jackal and Mr. Hyde...He makes decisions based on how the wind blows

    April 7, 2012 03:28 am at 3:28 am |
  24. Tammy lambert chandler az

    Team Obama needs to drag Mittens out into the open, ask him about transparency, bring it up constantly. the topic about transparency and his investment should be hammered. What ever he is hiding seems to be a bigger and darker secret the more he holds out. Mittens un-american investments over sea's have certainly bought him a nice castle in Belmont MA. A Ridiculous castle and 4 other homes. Totally out of touch

    April 7, 2012 05:47 am at 5:47 am |
  25. Tammy lambert chandler az

    I would love to see CNN do more stories about Mittens properties, especially when gets down to the wire in November

    April 7, 2012 05:49 am at 5:49 am |
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