Blind Trust?

Discussion in 'Politics' started by Wry Catcher, Aug 17, 2012.

  1. Wry Catcher
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    Wry Catcher Platinum Member

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    Mitt Romney's wife is pushing back on public pressure for her husband to release additional years of personal tax filings.

    In an interview set to air Thursday on NBC's "Rock Center," Ann Romney reiterated that her husband won't release more financial records, insisting it would just provide more fodder for Democratic attacks.

    "There's nothing we're hiding," Ann Romney told NBC's Natalie Morales.

    Asked why her husband isn't more "transparent," Romney seemed to get a bit irritated, leaning forward in her chair to answer questions.

    "Have you seen how we are attacked? Have you seen what's happened?" she said. "We have been very transparent to what's legally required of us. But the more we release, the more we get attacked, the more we get questioned, the more we get pushed. And so we have done what's legally required, and there's going to be no more tax releases given."

    Asked whether she worries Americans will think her husband is trying to "hide" something by not releasing more returns, Romney pointed to the "huge" financial disclosures her husband filed when serving as governor of Massachusetts.

    "If people want to really look and see, any question they have ... Mitt is honest. His integrity is just golden," Romney said. "We pay our taxes. ... Beyond paying our taxes, we also give 10 percent of our income to charity. ... The only reason we don't disclose any more is because we will become a bigger target."

    Echoing what her husband has said on the campaign trail for months, Romney told Morales their investments are managed by a blind trust.

    "I'll be curious to see what's in there, too," Romney said, smiling.


    From: Ann Romney on tax returns:

    If the Romney's vast assets are in a "blind trust" and Mrs Romney doesn't know what or where it is invested, how could she say they're not hiding anything? If she doesn't know where the money is, how do we know what it is funding?

    It might be in foreign banks, loaning money to fund foreign business - competing with our own. Or, it might be in rare paintings, or automobiles or any number of instruments outside our borders funding any manner of things not in our nations best interest.

    And why were these assets placed in a blind trust for over a decade? One would presume someone who tauts their business acuity would be better able to invest their assets than those who operate said blind trust.
     
  2. SniperFire
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    SniperFire Senior Member

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    yawn


    Americans, especially the seniors and the Screwed Generation, are looking for hopey changey.
     
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  3. Wry Catcher
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    Wry Catcher Platinum Member

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    You maybe one of the dumbest people I've ever had the misfortune to encounter on this message board (or any message board). Keep in mind that includes crusaderfrank, willow tree, stephanie and others known generally as the echo chamber.
     
  4. Turks
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    Turks BANNED

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    I hope this helps.

    A blind trust is a trust in which the fiduciaries, namely the trustees or those who have been given power of attorney, have full discretion over the assets, and the trust beneficiaries have no knowledge of the holdings of the trust and no right to intervene in their handling.

    Blind trusts are generally used when a settlor (sometimes called a trustor or donor) wishes to keep the beneficiary unaware of the specific assets in the trust, such as to avoid conflict of interest between the beneficiary and the investments. Politicians or others in sensitive positions often place their personal assets (including investment income) into blind trusts, to avoid public scrutiny and accusations of conflicts of interest when they direct government funds to the private sector.
     
  5. Political Junky
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    Political Junky Gold Member

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    [ame=http://www.youtube.com/watch?v=Q9DVKWhPibw]Romney: "The Blind Trust is an Age Old Ruse" - YouTube[/ame]
     
  6. Wry Catcher
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    Wry Catcher Platinum Member

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    Thank you. How do we know a blind trust is truly blind? Are such trusts independently audited? And of course we saw how even a trusted agent (Arthur Anderson) can violate the law as was the case in the matter of Enron. How is a fire wall executed between the beneficiary and the trustees? Do the Romney's not know who the trustees are?
     
  7. Luddly Neddite
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    Luddly Neddite Diamond Member

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    Ding! Ding! Ding! Ding!
     
    Last edited: Aug 17, 2012
  8. Luddly Neddite
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  9. thanatos144
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    thanatos144 Gold Member

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    Lets see which candidate actually cut medicare Wry Catcher? That alone tells us who the true liar is.
     
  10. Quantum Windbag
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    Quantum Windbag Gold Member

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    He put them in a blind trust for the same reason every other politician does, the fracking law requires him to.
     

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