Romney Conference Call: Why Did Romney's Trustee Close The Swiss Bank Account?

[The Straight Story]

Romney Conference Call: Why Did Romney's Trustee Close The Swiss Bank Account?

Brad Malt, the trustee of Romney’s blind trust since 2003, created a swiss bank account in Ann Romney’s name with $3 million. In early 2010, he closed that account. Asked on a conference call with the press if the account was closed for political reasons — which some media reports suggest — Malt said that he had conducted a periodic review of investments and determined that it wasn’t serving a purpose. This might coincide with Romney’s political views, he said.

Malt says the Swiss Bank Account with UBS was opened in 2003 for diversification and that taxes in correlation with the account have been paid.

http://livewire.talkingpointsmemo.com/updates/4599

[CanonRay]

1. UBS-now there's a familiar name

Mortgage fraud, Phill Gramm, repeal of new deal banking regs...no wonder Mittens Rmoney was a customer.

[Cigar11]

2. You can bet one thing ...

I wasn't because he thought his money was in any danger.