Economy

Boston Globe: Boston Lawyer Brad Malt In Crossfire Over Romney Investments

On January 30, 2012, the Boston Globe reported:

In 2007, as Romney prepared his first run for president, Malt sold stock in dozens of potentially controversial companies, including casino operators, tobacco growers, and firms with ties to Iran. Last year, after Romney pushed for tougher trade sanctions against China, Malt dumped a number of Chinese holdings. He recently shed a money market mutual fund that had invested in government-backed mortgage companies, Fannie Mae and Freddie Mac, which are blamed for exacerbating the housing bust.

GQ: How Your Oppo-Research Sausage Is Made: Bain Vs. Newt Edition

On January 30, 2012, GQ reported:

A couple weeks ago I met some of the guys from American Bridge, the pro-Democratic super-PAC, loafing around a restaurant in New Hampshire in between interviews. Pointing out how poorly the Republican candidates have fared in attacking Romney's economic record, American Bridge president Rodell Molineau told me his crew was "here to help" with that job. Unlike the other opposition research shops, which are usually affiliated with actual campaigns and do their business only on an anonymous basis, the unaligned American Bridge actually wants credit for landing hits. Curious to sample their wares, we said we'd be happy to oblige. Here's what they sent us:

POLITICO's Arena: Will The Meaner Mitt Win?

It looks now like Florida will be Romney's second victory of the primary, meaning that he will finally get back to where he thought he was three weeks ago. But the sudden shift in strategy indicates a short-sightedness that has to call into question his long-term viability as a candidate, to say nothing of whether he is capable of serving as president. Mitt Romney has tried to convince Republican primary voters that he is the only candidate capable of defeating Barack Obama. The decision to go after the low-hanging fruit that are Newt Gingrich's shortcomings does nothing to advance that purpose. If anything, it has to be a factor in why his unfavorable ratings have risen dramatically of late. Nobody liked Romney when he was the phony who was trying way too hard to get people to like him; now we see they like him even less as the phony who is bitter and nasty about it. Being seen as the boss who enjoys firing people is not the path to victory. Instead of playing Whack-a-Newt, the Romney campaign would have been better served handling the release of his tax returns in a manner that at least resembles a competent, professional organization. They botched it so badly that it actually raised more questions than it answered. They might have also tried a little bit of self-research, so that their candidate wasn't launching attacks against Newt (e.g., Fannie and Freddie) that left him vulnerable to attacks himself - not that American Bridge is complaining about that.

ProgressVA: After Vehemently Opposing Stimulus, Allen Touts The Success Of Firms That Received Millions Of Dollars In Stimulus Grants

On January 27, 2012, ProgressVA posted the following:

Paying no heed to his months of criticism of a "failed stimulus", George Allen has spent the past two weeks touring and touting the economic successes of two Virginia firms that received millions of dollars in stimulus grants. January 21^st, Allen visited Ennis Electric Company, an "admirably managed" business in Manassas. Left out of Allen's praise for Ennis was the fact the firm has benefitted from nearly $14 million in stimulus funding. Unfortunately, this isn't the first time Allen's hypocrisy has caught up with him on the campaign trail. Earlier this month, Allen hosted a town hall meeting at Micron Technology, a firm that solicited and received $5 million in stimulus funds. Micron CEO Steve Appleton certainly didn't seem to agree with Allen's assessment of the stimulus program--he met with President Obama to show his support for the legislation in 2009.

MEMO: 12 Things We Could Learn From Previous Romney Tax Returns

ICYMI: With Mitt Romney still refusing to release his pre-2010 returns, we wanted to be sure that you saw our previous memo explaining why it is so important that Mitt Romney release them. Click through for the 12 questions that Mitt Romney needs to answer by releasing his previous years’ tax returns.

Boston Globe: Romney’s Returns Open A Window On The Wealthy

On January 25, 2012, the Boston Globe reported:

The returns also offered a window into the finances of the rich, complete with a Swiss bank account, investments in the Cayman Islands, and Social Security taxes for domestic help - all well within the law, Romney’s spokesman said yesterday. Romney declined to field questions from reporters about his returns.

POLITICO: American Bridge Outlines Fla. Attack On Romney

On January 25, 2012, POLITICO reported:

Mitt Romney’s problems in Florida go beyond tax returns and Swiss bank accounts, the Democratic group American Bridge argues in a memo shared with POLITICO. The missive from American Bridge senior adviser Ty Matsdorf (readable here) points the way toward three other issues that could be problematic for Romney in the Sunshine State: his views on immigration, disaster preparedness and space exploration. The memo reads as much like a how-to-attack-Romney manual for other GOP candidates — or a warning of other Democratic hits to come — as a dispassionate readout of the state of play in Florida, as Matsdorf highlights potentially damaging information that hasn’t been front and center in the Republican race.

TPM: Three Key Questions Raised By Romney’s Tax Revelations

On January 25, 2012, Talking Points Memo reported:

Romney’s revelations confirm that his effective tax rates in the past couple years have been as low or lower than those of workers with truly modest means. They also confirm that he’s availed himself of truly complex tax strategies designed to boil his liability down to the lowest level allowed by the country’s heavily rigged, labyrinthine tax code. And we know, too, that these are things Romney didn’t want voters to know — at least not yet. But they raise a series of new questions that will likely require Romney to disclose several years’ worth of additional tax returns if he wants to answer them satisfactorily. Here are three big ones that touch generally on the theme of Romney’s efforts to reduce his tax burden by taking advantage of areas of the law that simply aren’t available to most people...

AP: Romney Paid $3M In Federal Income Tax In 2010

On January 23, 2012, the Associated Press reported:

One investment, listed as a "Federated Government Obligation Fund" and worth between $250,000 and $500,000, was a mutual fund that included both Fannie Mae and Freddie Mac assets among a larger pool that included other government securities. The holding was not listed in Romney's blind trust, which led some Democratic Party activists to suggest that the investment was under his direct control. "He is relentlessly attacking Newt Gingrich over his ties to Freddie Mac despite the fact that he personally invested up to a half a million dollars in both Fannie Mae and Freddie Mac," said Ty Matsdorf, a senior adviser with American Bridge 21st Century, a PAC associated with Democratic Party and liberal causes.

POLITICO: 5 Reasons Romney's Taxes Matter

On January 23, 2012, POLITICO reported:

Many presidential candidates — and presidents, for that matter — have been very rich guys. So why the big fuss over Mitt Romney’s taxes?