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View Full Version : General Politics Romney trust involved ties to Iran, China and abortions


dirk digler
02-02-2012, 07:27 PM
http://m.apnews.com/ap/db_260762/contentdetail.htm?contentguid=p5jrbG1c

During his presidential campaign in 2007, Republican candidate Mitt Romney promised that a trust overseeing his financial portfolio would shed any investments that conflicted with GOP positions toward Iran, China, stem cell research and other issues. But Romney's family trusts kept some of those stocks and repeatedly bought new investments in similar holdings as recently as 2010, when they were sold in advance of his latest White House campaign, a detailed review of Romney's financial records by The Associated Press shows.

In 2007, Romney held between $100,000 and $250,000 worth of shares in Novo Nordisk, a Danish pharmaceutical company that engages in limited use of stem cells for research. But it was not until October 2010, on the eve of his second White House run, that Romney's trust sold off the last 27 shares of Novo Nordisk stock - among 90 shares worth $7,700 that Romney's trust sold that year.

Romney supported stem cell research during his 2002 race for governor but changed his mind before the 2007 presidential race, saying the turnabout led him to oppose abortion. Now, like many social conservatives and his Republican campaign rivals, Romney opposes any use of human embryonic stem cells for research into diseases and other medical issues because the work could destroy viable human embryos.

Romney's trust also waited until 2010 to sell more than 900 shares - worth nearly $50,000 - that it held since 2006 in Teva Pharmaceutical, an Israeli company that engages in stem cell research. Teva also manufactures "Plan B One-Step," an emergency contraceptive known as the "morning after pill," which is opposed by anti-abortion groups.

Some of the largest stock trades made by the Romney trust involved companies that have operated in Iran. Romney has urged toughened sanctions and military steps against Iran and has called for strategic divestment of firms that do business there. In 2007, his trustee said he had sold off Romney investments in French and Italian energy companies with business ties to Iran.

But between mid-2009 and mid-2010, the Romney trusts made large investments in securities from BNP Paribas, a French bank with long-standing operations in Iran. The bank halted new business in Iran in 2007 but is still trying to terminate outstanding loans there. In all, Romney's family trusts bought more than 2.6 million shares, which were all sold in late 2010 for about $2.5 million.

Romney's trust for his grown children also bought and sold shares in China North Oil, recently named by the Congressional Research Service as a likely violator of the Iran Sanctions Act, and in Intesa Sanpaolo, an Italian bank that has been under investigation by U.S. authorities for handling of Iranian funds. There were also trades in stock of Gazprom, Schlumberger, Komatsu and Unilever - all firms that have had business in or with Iran.

Many of those companies are included among an extensive list compiled by United Against Nuclear Iran, a bipartisan group urging pressure on firms with business in Iran. A spokesman for the group, Nathan Carleton, declined to comment on Romney's holdings. But Carleton noted that the group's list - it named several of the firms the Romney trusts bought stock in - "is available for anyone to investigate."

petegz28
02-02-2012, 07:29 PM
Isn't his Trust a Blind Trust? Therefore he really has no say about what the investments are at all. Unless we are talking about a different Trust?

dirk digler
02-02-2012, 07:31 PM
Isn't his Trust a Blind Trust? Therefore he really has no say about what the investments are at all. Unless we are talking about a different Trust?


During his presidential campaign in 2007, Republican candidate Mitt Romney promised that a trust overseeing his financial portfolio would shed any investments that conflicted with GOP positions toward Iran, China, stem cell research and other issues.

HonestChieffan
02-02-2012, 07:31 PM
Clearly Mitt hates America

petegz28
02-02-2012, 07:32 PM
During his presidential campaign in 2007, Republican candidate Mitt Romney promised that a trust overseeing his financial portfolio would shed any investments that conflicted with GOP positions toward Iran, China, stem cell research and other issues.

Great, now could you answer my question?

petegz28
02-02-2012, 07:33 PM
Thena gain I don't see where a Left-leaning person such as Dirk would find fault with such?

dirk digler
02-02-2012, 07:36 PM
Great, now could you answer my question?

Yes same trust. he can set the direction as stated by his quotes on multiple occasions.

You think it is a coincidence that these investments ended right before he started running for POTUS?

Romney can set the general direction of his finances, Cooke and other tax experts said. Romney made that clear in August 2007, as he tried to quell a growing furor about his ownership of some stocks that clashed with Republican positions on Iran, China and other issues.

BucEyedPea
02-02-2012, 07:36 PM
Good, then perhaps he'll stop the sanctions on Iran and not take us to war with them.

mlyonsd
02-02-2012, 07:36 PM
I'll take who gives a shit for a thousand Alex.

dirk digler
02-02-2012, 07:40 PM
I'll take who gives a shit for a thousand Alex.

You don't think this is important as a conservative?

petegz28
02-02-2012, 07:42 PM
You don't think this is important as a conservative?

Not particularly. Then again I gave up on the abortion argument a long time ago as I think it just gets overly-used by both sides as a political wedge. The Left loves to claim it's some type of privacy which I think is bullshit and the Right loves to claim life in the name of their religion which again I think is bullshit because religion has no business in politics.

Stem Cell research on the other hand I think can be handled ethically.

mlyonsd
02-02-2012, 07:44 PM
You don't think this is important as a conservative?Do you think this will matter to republicans in the general election against Obama?

dirk digler
02-02-2012, 07:48 PM
Not particularly. Then again I gave up on the abortion argument a long time ago as I think it just gets overly-used by both sides as a political wedge. The Left loves to claim it's some type of privacy which I think is bullshit and the Right loves to claim life in the name of their religion which again I think is bullshit because religion has no business in politics.

Stem Cell research on the other hand I think can be handled ethically.

I am sure they can but you can probably guess that the stem cell research that was done in Europe were from abortions. Throw in the fact that he also invested in the morning after pill...

dirk digler
02-02-2012, 07:51 PM
Do you think this will matter to republicans in the general election against Obama?

Could. I am curious why you don't give a shit about his investments in Iran, china and abortions as a conservative.

petegz28
02-02-2012, 07:55 PM
I am sure they can but you can probably guess that the stem cell research that was done in Europe were from abortions. Throw in the fact that he also invested in the morning after pill...

Meh. Politcal fodder that in the end doesn't mean jack shit. Obama said he wouldn't mandate everyone had to buy healthcare like Hillary would yet I don't hear his supporters bitching. He said he'd close GITMO, etc., etc. The flip flop game is great for soundbytes but in the end if you don't like Obama you're more than likely going to vote for the other guy regardless and vice-versa.

mlyonsd
02-02-2012, 07:57 PM
Could. I am curious why you don't give a shit about his investments in Iran, china and abortions as a conservative.Is his family trust breaking any laws?

mikey23545
02-02-2012, 08:00 PM
This titillating article has completely changed my life.

I'm sure to vote for Hussein Obama in November.

dirk digler
02-02-2012, 08:03 PM
Meh. Politcal fodder that in the end doesn't mean jack shit. Obama said he wouldn't mandate everyone had to buy healthcare like Hillary would yet I don't hear his supporters bitching. He said he'd close GITMO, etc., etc. The flip flop game is great for soundbytes but in the end if you don't like Obama you're more than likely going to vote for the other guy regardless and vice-versa.

I wasn't trying to make this a GE issue this is an issue for the primaries and I would think conservatives would have problem with this.

petegz28
02-02-2012, 08:05 PM
I wasn't trying to make this a GE issue this is an issue for the primaries and I would think conservatives would have problem with this.

Harline conservatives might but then again the evangelicals already don't like him because he is a mormon. Again, religous BS getting involved with politics.

dirk digler
02-02-2012, 08:06 PM
Is his family trust breaking any laws?

Not that I know of.

KCTitus
02-02-2012, 09:41 PM
This is very interesting...I was under the impression this trust was blind. Did the writer or anyone find out if Romney has directed funds in this trust? Im pretty sure that would torpedo his campaign.