Thursday, August 23, 2012

BREAKING NEWS: 950 pages of Romney confidential financial records released

Today released what is says are nearly 950 pages of financial records covering Romney’s investments.  John Cook at Gawker says:

Today, we are publishing more than 950 pages of internal audits, financial statements, and private investor letters for 21 cryptically named entities in which Romney had invested—at minimum—more than $10 million as of 2011 (that number is based on the low end of ranges he has disclosed—the true number is almost certainly significantly higher). Almost all of them are affiliated with Bain Capital, the secretive private equity firm Romney co-founded in 1984 and ran until his departure in 1999 (or 2002, depending on whom you ask). Many of them are offshore funds based in the Cayman Islands. Together, they reveal the mind-numbing, maze-like, and deeply opaque complexity with which Romney has handled his wealth, the exotic tax-avoidance schemes available only to the preposterously wealthy that benefit him, the unlikely (for a right-wing religious Mormon) places that his money has ended up, and the deeply hypocritical distance between his own criticisms of Obama's fiscal approach and his money managers' embrace of those same policies. They also show that some of the investments that Romney has always described as part of his retirement package at Bain weren't made until years after he left the company.

Gawker has not analyzed the documents completely nor has anyone else.  You can view the documents by following this link:

Watch for a lot more about what these newly released documents reveal about  Romney’s wealth and taxes in the days ahead.  If determined to be authentic, these documents will be a major distraction (and possible embarrassment  to Romney and his campaign.

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