Barack Obama has pension investments that include Chinese firms, and investments thro


#1

Barack Obama has pension investments that include Chinese firms, and "investments through a Caymans trust


10/17/12

The exchange was a role reversal: An Obama campaign ad in July 2012 claimed Romney had millions in the Cayman Islands, among other “tax havens.” We rated that True, noting that nothing illegal or improper about the investments through his blind trust.

We also reviewed an Obama claim from an ad in September 2012 that said, “Even today part of Romney’s fortune is invested in China.”

We rated that Mostly True, noting that Romney had money invested in funds that owned shares in two Chinese firms, but that Obama’s claim suggested Romney had more to do with the investment decision than is the case. (We further noted that the New York Times reported that one of the funds had invested in a Chinese video surveillance company that supplies cameras to police for watching public spaces.)

Okay, so what about Romney’s debate description of Obama’s pension investments?

The Romney campaign told us it was referring to investments made by the Illinois State Board of Investment on behalf of the state employees’ retirement system there.

The Romney campaign pointed us to that pension fund’s holding in an entity that is part of Advent International. Advent has described itself as “one of the world’s most global private equity firms” and has buyout offices in 16 countries.

Atwood confirmed that the pension fund has invested $30 million in one of Advent’s limited partnerships, Advent International GPE VI-A. That partnership was organized in the Cayman Islands, Atwood said. Public filings back that up.

What about Romney’s broader claims, about Obama’s foreign investments?

The Illinois pension fund also has numerous foreign investments, including in Chinese companies, as part of its diversified portfolio, Atwood said.

So, now that it’s been shown that Obama also has Caymans-based investments in his trust, what happens to Caymans-based investments being evidence of tax fraud and/or avoidance? If Romney is a tax cheat because of such investments, how is Obama not also a tax cheat?


#2

But that does not count. Obama does not pay attention to his pension.

Which scares me. Why would we trust a person that does not pay attention to his own financial well being to take care of ours?


#3

Presidents should not get the 175,000 (or whatever it is) per year for life after leaving office.
One term in office and they get their salary and benifits for the rest of their life.


#4

You do not understand: that’s completely different, because George W. Bush.


#5

Almost everyone with a 401K has Chinese investments


#6

That would be a good question for Romney, who’s company is shutting down Sensata Tech as we speak and shipping the jobs to China. He claim’s the VERY convenient “blind trust” scam. Sensata was a PROFITABLE, non-union company BTW.

Bain actually flew the Chinese flag over the plant while the American workers were training there Chinese replacements.

There is a difference between owning some stock, and actively shipping, and pioneering the method of moving jobs to China.

But it’s difficult to see reason through hate.


#7

[quote=“Centered1, post:6, topic:36643”]
That would be a good question for Romney, who’s company is shutting down Sensata Tech as we speak and shipping the jobs to China. He claim’s the VERY convenient “blind trust” scam. Sensata was a PROFITABLE, non-union company BTW.

Bain actually flew the Chinese flag over the plant while the American workers were training there Chinese replacements.

There is a difference between owning some stock, and actively shipping, and pioneering the method of moving jobs to China.

But it’s difficult to see reason through hate.
[/quote]You mean like all those green jobs of Obama’s?>


#8

Why is it that those who call them selves centrists are always progressives?


#9

Did Obama profit from those green jobs? Hmm… It seems these REALLY are different situations when you THINK about them.


#10

You have to understand that a Libertarian to you is a progressive. You are so far right that Reagan would be a progressive now.


#11

[quote=“Centered1, post:9, topic:36643”]
Did Obama profit from those green jobs? Hmm… It seems these REALLY are different situations when you THINK about them.
[/quote]OMG you mean Romney made money?!?!?!?!? Say it isnt so!


#12

[quote=“Centered1, post:10, topic:36643”]
You have to understand that a Libertarian to you is a progressive. You are so far right that Reagan would be a progressive now.
[/quote] No to me libertarians are crazy liberals …You are a progressives trying to pass yourself off as a libertarian and failing miserably…How do we know??? Easy . Libertarians don’t find people making money evil like you do.


#13

Because those on the far left always lie about who and what they are. They are ashamed to admit it to themselves. You see even they hate themselves so they can not admit it.


#14

In another thread I posted that I voted today. I voted for One Dem and the rest I voted Libertarian.

Edited to add: I would have voted for Gary Johnson, but not this year in a swing state.


#15

[quote=“Centered1, post:14, topic:36643”]
In another thread I posted that I voted today. I voted for One Dem and the rest I voted Libertarian.

Edited to add: I would have voted for Gary Johnson, but not this year in a swing state.
[/quote]Yep you voted for Obama. Oh the days when you tried to pass yourself off as a conservative here.


#16

Nice try but Romney does not work there and in fact has not been there since '99, that is not his company.

Of course 'Bammy boy, sent billions to S America for them to drill oil so we can buy it from them, sent jobs to Finland to build cars…This is HIM PERSONALLY. I have never seen a White House or POTUS act like a venture capitalist, its against the LAW!


#17

Romney owns 51% of Bain. That percentage is called a “controlling interest” in a company for a reason. If you own 51% of a company YOU OWN THE COMPANY.

But hey, ignore that he is ACTIVELY profiting from shipping jobs to China while saying he will get tough on China.

If he were REALLY at all serious about his claims, he would call up one of his MANY friends still working at Bain and ask them to stop this practice. He won’t, because he is a hippocrite.


#18

I don’t have a problem with people making money. I have a problem with an industry, backed by the possible next president, shipping profitable businesses out of the US for personal gain.

I have a hard time believing that Mitt cares about America when he won’t even call his own friends to stop them from shiiping this company overseas.


#19

Oh Sam… I have NEVER EVER even associated myself with being a conservative. I never will.

But nice try.


#20

What’s wrong with shipping jobs overseas when union labor- with the backing of the CURRENT President- is pricing themselves out of the market? How is protectionism consistent with libertarianism?