- A). Romney was a consultant to a financial institution from 2008-2009. This would make sense to me because during the greatest recession since the Great Depression, if I was a financial firm I'd probably try to hire an "unemployed" Mitt Romney to give me some advice and maybe help with some informal TARP lobbying with his buddies in Congress (and he doesn't seem like the type that just sits around twiddling his thumbs for a couple years). Which firm? My presumption would be Bain Capital (obviously), with Goldman Sachs as my darkhorse. Why Goldman? Romney has some serious ties to Goldman as documented in this New York Times piece and the last candidate for President that I know of that had a significant amount of their wealth tied up in one financial firm that also happened to be his biggest donors was John Edwards and Fortress Investment Group. John Edwards, of course, consulted for them in between his runs for President. Another reason Goldman is a suspect is because Romney seemed to mention them every time he was on TV during this period saying that Obama was unfairly picking on them. It always stuck out to me as strange (I mean, why not throw in JP Morgan or Citigroup on occasion?).
- B). Romney had some serious investments in something that would look really bad politically. The only thing I can think of that would pose enough of a problem for him to not release the returns is that he bought credit-default swaps against the housing market (a la John Paulson).
Thursday, July 12, 2012
Two Things On Romney I Think I Know (But Have No Actual Evidence)
1. Romney's refusal to release his tax returns prior to 2010 isn't about tax shelters, tax rates, or offshore accounts. We already know he utilizes tax shelters and has offshore accounts from the returns he did release. If there were more of these things he would have released them all at once and limited the blow by having them all wrapped in one story (ripping off the band-aid). So what's it about? It's got to be about an income source; and it must be bad (also would explain why he's one of the only people in the world who according to his disclosures didn't lose any wealth from 2007 until now despite the recession). Here are my guesses, based on nothing:
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