FACT CHECK: Some Romney Housing Investments Were Not in Blind Trust

[kpete]

CAMPAIGN 2012
FACT CHECK: Some Romney Housing Investments Were Not in Blind Trust
By Naureen Khan
Updated: January 27, 2012 | 12:18 a.m.
January 26, 2012 | 9:28 p.m.

In Thursday night's CNN debate, Newt Gingrich accused Mitt Romney of making investments that fueled the housing crisis.

“He has an investment in Goldman Sachs, which is, today, foreclosing on Floridians,” Gingrich said. “Maybe he should tell us how much money he's made off of how many households that have been foreclosed by his investments.”

Romney answered the charge this way: “First of all, my investments are not made by me. My investments for the last ten years have been in a blind trust, managed by a trustee. Secondly, the investments that they made, we learned about this, as we made our financial disclosure, had been in mutual funds and bonds. I don't own stock in either. There are bonds that the investor has held through mutual funds.”

Yet, according to Romney's financial disclosure forms, not all of his mutual funds were part of a blind trust. The Boston Globe reported in September that Romney owned between $250,001 and $500,000 in a mutual fund called the Government Obligation Fund that invests in debt notes of various government entities, including mortgage giants Fannie Mae and Freddie Mac, and he made between $15,001 and $50,000 in interest from those investments.
http://www.boston.com/Boston/politicalintelligence/2011/09/romney-pummels-profits-from-fannie-freddie/a2YN7UoFKXQHW1RzAiaW4J/index.html


More:
http://www.nationaljournal.com/2012-presidential-campaign/fact-check-some-romney-housing-investments-were-not-in-blind-trust-20120126?mrefid=mostViewed

[DLine]

1. Whats sad is..

250-500k probably isn't enough for someone as rich as Romney to even remember he has it. It was still funny the way he owned Newt on that exchange by pointing out he also owns mutual funds invested in fannie/freddie.

[truthisfreedom]

2. Yep. Once again, this is just an indicator that his wealth is so great that he's unaware what he's

doing with it, or what condition it's in.

[groundloop]

3. Much like McCain not knowing how many houses he owned

When you're that fucking rich you live in a totally different world that the rest of us.

It looks like Neut's time in the spotlight will be up soon, but he's certainly been useful in making the world see Mittens for the out of touch puke that he is.

[Myrina]

4. Yes, how DARE Newt insinuate the Mitt DOES HIS OWN investing!

Tsk! There are people you can hire to do that, silly Newt!!