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. harry zoyster

    And yet Obama tries to hide his own past ... his ties to racists, extremists and domestic terrorists. Barack Hussein Obama = The World's Biggest Hypocrite.

    April 7, 2012 09:15 am at 9:15 am |
  2. Dave Harris

    What did Romney think would happen? Does he even understand the rules of the campaign, or does he just think he doesn't have to follow them? When he hands the enemy a cannonball, he shouldn't be surprised when they shoot it back at him.

    April 7, 2012 09:20 am at 9:20 am |
  3. harry zoyster

    Hey, Obama. How about showing us your college thesis papers? You know, the ones you paid $200,000 to keep hidden? Ever notice this clown rails the most at the things he's most guilty of?

    April 7, 2012 09:23 am at 9:23 am |
  4. Stopthemadness

    Yeah he doesn't want anyone to know he is already bought and paid for is all. No surprise there as he is only about corporate gain not this country. The only reason he is running for president is to gain more power over business and take their money as well. To bad the republicans are to ignorant to see it.

    April 7, 2012 09:25 am at 9:25 am |
  5. ken lester

    When is the republican party going to put the 5 trillion dollars they took from social security to fund the iraq war. bush was the worst this country has had. The republicans remind me of a five year old on their 1st trip to the white house. They all stand around holding hands so none of them get lost on their way to their office so they can take their nap.They always remind me of the neighborhood bully who beats on everybody until someone comes along and beats them up. then they run and tell mom someone beat them and will you tell tommys mom.

    April 7, 2012 09:26 am at 9:26 am |
  6. Living in the REAL world

    Obama has had four YEARS to prove that he could turn the country around. His record shows he has not done so. Every other recession ends and turns around over time and without spending a trillion dollars and extending unemployment for years and years. The economy was turning back even before Obama took office and any of his bogus policies were implemented. His policies have interfered with the recovery by delaying or blocking the natural recovery processes of our economy. It is why unemployment remains high and drops only because people give up looking for work. Enough is enough. TIme for a change because hope hasn't cut it.

    April 7, 2012 09:45 am at 9:45 am |
  7. SayWhat

    Toys really do represent Romney: Etch-a-sketch man, a real gumby, a yo-yo. Take your pick, but lies, deceit and constant change of positions. He'd is more like a p-o-r-n star than presidential material.

    April 7, 2012 09:46 am at 9:46 am |
  8. Obo is Gone in 8 Months

    .....nice try Obo....you hav so little to run on and so few months left to try and push your "Hope n Change" crap on America.

    All you're left with is your weak class warfare, your race baiting friends and passing out your empty promises of more Gov't giveaways.

    Good luck selling that pile garbage to the American public in Nov. You're time is up..........

    April 7, 2012 09:56 am at 9:56 am |
  9. petemg

    Chairman Obama should talk. Why does he secretly tell world leaders things and then he finds he has been caught on an open microphone. Is he hiding the fact he is Muslim. Okay he says he is Christian, but he seems to "back" Muslim ideals. He does things that he condemns others for doing. I thought he was supposed to be a mature, educated person but he shows a lot of bullying and whining. I know I will get negative comments on this, but I am exercising my freedom of speech and thinking while I can.

    April 7, 2012 09:58 am at 9:58 am |
  10. clarke

    The man has money, he was raised in money and he is used to a different way of life. His father had money and it was passed on, you can't fault Mitt for that. Money makes money and that is the way life is. Why people begrudge others for having money is beyond me.

    April 7, 2012 10:03 am at 10:03 am |
  11. Puddin

    Romney reeks of arrogance. As a typical conservative, he is in denial that it was his party that got us into the mess we are in. Obama gets his hands tied due to the conniving, head-strong conservatives in Congress, so he has done as well as anyone "inching" us out of it, and it will still be awhile. Romney acts as if HE got the magic wand to wave to make it all better. It's amusing to me that now that the election is right around the corner, these conniving conservatives are "making nice" and are in agreement with some bills..... just enough so they can show the voters how sweet they are....i.e. the Jobs Act. Romney (and others) needs to put a sock in it.

    April 7, 2012 10:04 am at 10:04 am |
  12. Boo Obama

    old news.... only good thing about santorum and newt blathering so long as they beat this dead horse into the ground already.

    April 7, 2012 10:09 am at 10:09 am |
  13. steven harnack

    Tony, you left out one more reform.An editorial board to preview campaign ads, and if they are found to be lying they don't go on the air.

    April 7, 2012 10:12 am at 10:12 am |
  14. BunnyBunny

    By offering a limiting a description of his assets, Romney's made it difficult to know exactly where his money is invested, could be offshore or in controversial companies, or companies that could affect his policies or present conflicts of interest.

    How would you know who Romney is serving when he makes a foreign policy/national security decision if you don't know where is money is?

    April 7, 2012 10:16 am at 10:16 am |
  15. CA Cowgirl

    It's all about having integrity and slick Mittens seems to be sorely lacking in that regard. What is he afraid of, that those jeans aren't enough to win over the middle class who serve him? Do not trust this guy at all! I'd vote for my horse first; at least my horse is the real deal.

    April 7, 2012 10:17 am at 10:17 am |
  16. Spence

    Obama the mind reader ..... ooooooohhhhhhhhh It's amazing how stupid Obama is.

    April 7, 2012 10:26 am at 10:26 am |
  17. Mrs G

    Since Romney got tax breaks and seemingly hid his money from taxes, what jobs exactly has Mr. Romney created in the past ten years?

    April 7, 2012 10:30 am at 10:30 am |
  18. cuisinemanager

    Obama says Romney is hiding, you have to be kidding....................Obama is hiding the budget that has not been passed in almost 4 yrs, Obama is hiding the closure of Gitmo, stopping the wars, immigration reform, transparency, he sure is hiding cutting the deficit in half by the end of his first term and much more.
    What he is not hiding is his blame everyone under the sun for problems he created. He is now blaming Bush for his own outrageous, wasteful, unproductive spending. It would be funny if it were not so sad!

    April 7, 2012 10:32 am at 10:32 am |
  19. GOP is for the rich

    @ fair is fair.....if he doesn't know where HIS money is, how can we trust him with OURS?

    April 7, 2012 10:33 am at 10:33 am |
  20. GOP is for the rich

    I want a home , my 6th, with a car elevator and a lobbyist!!!!

    April 7, 2012 10:35 am at 10:35 am |
  21. GOP is for the rich

    I guess the GOTP will have to start liking R-obamacare!

    April 7, 2012 10:38 am at 10:38 am |
  22. jmoses

    Which had you rather know?? How much money a man made ,or if he eligible and qualified to run our Government, does he have a valid social security card or a real berth certificate. It seems like knowing the truth about the man" WE
    ELECTED " would be much more pertinent than how much money he made in PRIVATE LIFE. Why would knowing how much money one made opposed to whether an individual is telling the truth about his prior life and accomplishments be considered more important." JUST A THOUGHT"

    April 7, 2012 10:39 am at 10:39 am |
  23. GOP is for the rich

    Yes, an african elephant is different than an asian elephant(Romneycare is different than Obamacare)! I had to put it in 'republican' terms for the intellectually challenged(foxwashed) readers!

    April 7, 2012 10:41 am at 10:41 am |
  24. Bruce

    I seem to have difficulty understanding how any errors or omissions by Romney qualify Obama for the presidency. He has demonstrated a lack of transparency himself the latest being the open mic gaffe. " Yo, pot Romney, this is kettle Obama, you're black!"

    April 7, 2012 10:42 am at 10:42 am |
  25. jerry walters

    It is comments like this that just cause me to distrust and 'hate' romney ...

    "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.

    Everyone knows President Obama inherited a mess and massive job losses and unemployment. Everyone has an opinion as to how to have best 'fixed' the problem but to pin the label of 'failed record of chronic unemployment' on him is just garbage. Cutting taxes won't fix this mess ... that is largely what caused it. So, rather than proposing how to fix they say 'bad' words about the president and think that will win them votes. How simple and pathetic. romney and his team need to grow up, run a mature adult campaign and see what happens. This middle school approach to presidential politics is just so laughable.

    April 7, 2012 10:49 am at 10:49 am |
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