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. Tony

    All these insults back and forth are unnecessary. There are not enough conservatives to stop Romney in the Republican primary. However, there are not enough moderates and independents left who are not turned off by Romney's pandering to the hard-right conservatives to save Romney in the general election. Romney is the inevitable winner in the Republican primary and the inevitable loser in the general election. All of us should go back to our jobs.

    April 6, 2012 06:06 pm at 6:06 pm |
  2. Donkey Talk

    Shouldn't he just spend his time buying race horses? Get a hobby. Why bother with politics.

    April 6, 2012 06:09 pm at 6:09 pm |
  3. Mindie in Indie

    And Romney is running against his ficticious version of Obama.

    April 6, 2012 06:19 pm at 6:19 pm |
  4. Mindie in Indie

    Romney keeps saying that Obama CAN'T run on his record.
    Actually Romney doesn't want to run on Obama's record, so he keeps making up lies about our President. We know they're lies – you know they're lies – he knows they're lies. Why do 28% of the country demonize Obama who is actually trying to help, and support the GOP who ruined the country. When was Help BAD? Why is RUIN Good?

    April 6, 2012 06:22 pm at 6:22 pm |
  5. Mindie in Indie

    Romney is afraid of Obama's record – that's why he keeps making up lies about Obama. And we all know it Mr. Romney – you aren't fooling anybody except those who want to be fooled.

    April 6, 2012 06:23 pm at 6:23 pm |
  6. kimberly

    @llya- I HAVE to tell you, you said to me I was a perfect example of a democratic voter, Obama was a one term senator and spent the entire time campaigning... YOU are a perfect example of an uniformed republican, uneducated voter! He was a state senator since 1997 before entering the US Senate. If you dont know what you are talking about its best to keep your mouth shut!

    April 6, 2012 06:27 pm at 6:27 pm |
  7. kimberly

    I see that llya gets called out a lot on these post as an uninformed person, now I don't feel so bad...

    April 6, 2012 06:28 pm at 6:28 pm |
  8. ltinny

    Jeff Adams, you are absolutely correct. I am glad to see someone say this outright, and it is the truth.

    OBAMA 2012

    April 6, 2012 06:32 pm at 6:32 pm |
  9. kimberly


    You said I was wrong when I said that Obama was a senator for YEARS before running for president, and that I was a typical Democratic voter- well sweetie, YOU are the mistaken one, and a typical republican voter- no facts, just buzz words and phrases you get from fox noise. PRESIDENT OBAMA was a state senator from 1997 until he was sworn into US SENATE...The saying goes, " remove all doubt of your ignorance by opening your mouth"? Or something to that effect? WELL you my uninformed friend, should have chosen to keep your mouth closed!

    April 6, 2012 06:34 pm at 6:34 pm |
  10. Batman

    ironic that this type of qustion would come from the obama campaign. no wait, not ironic, hypocritical.

    April 6, 2012 06:43 pm at 6:43 pm |
  11. Obama's Food Stamp Army Marches On

    Just saw that the workforce has shrunk from 65.7% of the population to 63.8% of the population. The unemployment rate would be 10.9% if the size of the workforce was the same as 2009 when Obama took office. So the reason the unemployment rate is declining is NOT because so many people are finding jobs but because so many people are giving up looking for a job. So once Obama gets a few more million people out of the job market, the unemployment rate will be back to normal. How many billions in lost tax revenue do all those people add up to? How many billions are we paying to support them? Obama hasn't done ANYTHING except get people to stop looking for jobs. The miniscule amount of new jobs isn't any where near enough for the size of our economy.

    April 6, 2012 06:43 pm at 6:43 pm |
  12. Thomas

    Romney / Rumsfeld
    Latter Day Bush

    April 6, 2012 06:45 pm at 6:45 pm |
  13. Mercyme

    @ Socialism Rules

    I take your comment to include all the congresmen and senators who are receiving the government services as well. That include a whole lot of benefits that the common person doesn't receive.

    April 6, 2012 06:46 pm at 6:46 pm |
  14. Hawk in Texas

    Obama can run on his record
    first off unemployment is not his fault. the republicans promised jobs but have failed to deliver. the president had a jobs bill. the republican house shot that down. as for gas prices that is caused by republican speculators. i wonder if romney was worried about all those people he caused to loose their jobs when he went to the caymans to deposit his ill gotten money.

    April 6, 2012 07:06 pm at 7:06 pm |
  15. Jay

    He's hiding his millions so they can remain tax free.

    April 6, 2012 07:13 pm at 7:13 pm |
  16. Indy

    You must have attended Fox News Bumper Sticker College and let me guess that your favorite Prof was none other then Rush Limbaugh ?

    Blind Trust could be the name of Romneys Presidential Campaign because you would have look the other way in the voting booth to mark Mitts name for President.

    April 6, 2012 07:14 pm at 7:14 pm |
  17. Dennis

    Romney is hiding behind his wall of money which is stuffed behind the wall of a bank in the Cayman Islands.He is so far out of touch with reality relating to the average citizen.He views each of us as an inventory product item at a warehouse subject to being discontinued at a moments notice.He is only looking out for what is good for himself and his money and his wealthy circle of elitists,not those most in need,the working class and poor of this country.At best he is a vulture capitalist making a vain attempt to gut the financial wealth of this country for his own personal benefit.Poor Mitt will have plenty of time to count his money while he sits at home after the Nov.2012 elections.

    April 6, 2012 07:21 pm at 7:21 pm |
  18. Jeff

    Obama.....focus please. WE CARE ABOUT THE ECONOMY. Did you get that? Focus.....focus...focus.

    April 6, 2012 07:24 pm at 7:24 pm |
  19. yuhmad

    Romney is an idiotic flip flopper who would lie to the American people just to get a vote. Why isn't Romney not revealing the "The Truth" behind the governor's health care plan that he implemented in Massachusetts if its such a great accomplishment for state known as Romneycare but is bashing President Obama's medical health care plan that is the exact model like Romneycare? Why Mr. Flip Flopper? You know is because you will lose votes from the conservaties and more.....Tell the American people the real "The Truth" behind Romneycare.

    April 6, 2012 07:28 pm at 7:28 pm |
  20. Burgboy

    LOL!!! Obama supports asking about candidate transparency!?!?!?!

    April 6, 2012 07:29 pm at 7:29 pm |
  21. Rose

    He's starting early on the campaign rhetoric isn't he? I wonder if he's going on vacation this weekend, as thousands can't due to gas prices and lose of jobs.

    April 6, 2012 07:35 pm at 7:35 pm |
  22. TownC

    When we realize that Mitt Romney is an honest decent man. He was asked to release his taxes and we found out he is a generous honest tax paying citizen. He is rich, but that did not disqualify either Roosevelt or John F. Kennedy. Mitt will make a great president when he is inaugurated in January.

    April 6, 2012 07:36 pm at 7:36 pm |
  23. Rose

    He's starting early on the campaign rhetoric isn't he? I wonder if he's going on vacation this weekend, as thousands can't due to gas prices and loss of jobs.

    April 6, 2012 07:36 pm at 7:36 pm |
  24. Marie MD

    Of course he is hiding money. You don't make just a mere $10M on interest from bank holdings wihtout having money in oversea banks.
    @brian in dc – he already did you a hole. You don't go to Harvard and you are not the editor of the Review because of the color of your skin or non transcripts. You people are really and truly just hateful bubble wrapped imbeciles.

    April 6, 2012 07:37 pm at 7:37 pm |
  25. Blue

    Romey would never get my vote. He does not know what he believes. He attacks our Presidednt and he does not even know what he is talking about. He is one stupid dude and every time he opens his mouth he proves it.

    April 6, 2012 07:38 pm at 7:38 pm |
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