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Romney breaks pledge, stands to profit from Bain's investment in Chinese surveillance company.

luvguins 2012/03/17 22:14:34

I think the truth team will find many deceptions by the moderate, Mittster, playing a conservative on TV. However, Mitt Romney is still making millions from his private equity firm Bain Capital’s financial investments around the world. But, in deciding to run for office, he’s been trying to shed those investments that conflict with his newly-found political principles. For example, when Romney decided to switch his rhetoric and start talking tough towards China, it was reported that his financial advisers “shed all his investments in China, worth as much as $1.5 million.”

In fact, Mitt Romney once declared:



“My trustee has indicated publicly that he will make an effort to make sure that my investments to the extent possible and practical will conform with my politcal positions."

Once again, the facts conflict with Romney’s political rhetoric. The New York Times revealed that Romney’s firm Bain Capital is still investing his money in China—this time, in a Chinese company that manufacturers surveillance systems:



In December, a Bain-run fund in which a Romney family blind trust has holdings purchased the video surveillance division of a Chinese company that claims to be the largest supplier to the government’s Safe Cities program, a highly advanced monitoring system that allows the authorities to watch over university campuses, hospitals, mosques, and movie theaters from centralized command posts.


The Bain-owned company, Uniview Technologies, produces what it calls “infrared antiriot” cameras and software that enable police officials in different jurisdictions to share images in real time through the Internet. Previous projects have included an emergency command center in Tibet.


Financial disclosure forms show that Romney still has a stake of “between $100,000 and $250,000 in the Bain Capital Asia fund that purchased Uniview.” Tax Notes noted that Romney’s retirement agreement with Bain Capital “covers new buyout funds started by his former partners through February 2009,” which means “Romney receives income from profits interests in separate Bain funds that are still running.”


Not only is Mitt Romney’s investment directly conflicting with his pledge, it’s conflicting with his newly-found principles. In a Wall Street Journal op-ed, Romney attacked President Obama with the false claim that he’s “demurred” on China’s human rights record, allowing a government that “marries aspects of the free market with suppression of political and personal freedom” to become “a widespread and disquieting norm.”


According to human rights activists, the company that Romney stands to profit from makes the very tools that the Chinese government uses “to intimidate and monitor political and religious dissidents.” One Tibetan Buddhist Monk noted that such surveillance cameras “helped the authorities identify and detain nearly 200 monks who participated in a protest” in 2008. “There are video cameras all over our monastery, and their only purpose is to make us feel fear,” he added.


Standing to profit from such a company violates Romney’s past pledge to match his principles with his investments. But this is not the first time he’s broken that pledge. After promising to shed investments the conflict with his party’s positions on Iran, stem cell research, and other issues, Romney’s family still “kept some of those stocks” that conflicted “and repeatedly bought new investments in similar holdings as recently as 2010.”

Kind of reminds you of Dick Cheney who continued to profit from Haliburton after resigning to run for VP. No doubt he still is. Keeping the GOP honest is going to be a gargantuan task. Their hypocrisy knows no bounds.

Read More: http://www.keepinggophonest.com/romney-breaks-pled...

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  • AnnForTruth 2012/03/17 22:33:29
    AnnForTruth
    +7
    Good read and I heard this story about Romney some time this year. As a matter of fact, according to Romney, for the past ten years his investments have been in a blind trust, managed by a trustee. However, not all of his mutual funds were part of a blind trust. Romney is not only a phony, but a liar too.

    Re:http://www.democraticunder...

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Opinions

  • iamnothere 2012/04/07 04:33:59
    iamnothere
    OMG what a horrible man Romney is.. taking money from his own company .. such a fibber
  • lee 2012/03/20 17:47:24
    lee
    +1
    the ppl who are going to vote for this man know he's a corporatist and off shoring is what corporatists do...

    a vote for mittens is a vote to move more jobs OUT of America.

    his supporters KNOW that and they don't care.
  • antiteaparty 2012/03/18 16:19:16
    antiteaparty
    +1
    Lie, Cheat and Hate... This years Republican Platform!
  • Jackie G - Poker Playing Pa... 2012/03/18 05:01:51
    Jackie G - Poker Playing Patriot
    He is a stock holder in the company - BFD
  • Sandy 2012/03/18 03:38:04
    Sandy
    +2
    What would one expect from a man who uses tax shelters in the Cayman Islands and Swiss banks?
  • DoxieDad 2012/03/18 03:10:55
    DoxieDad
    +1
    Yada Yada Yada... Still isn't gonna change my mind as to who I think is more qualified to be President.
  • luvguins DoxieDad 2012/03/18 03:27:40
    luvguins
    +2
    You like sleazy I guess. Is he your pick?
  • DoxieDad luvguins 2012/03/18 03:33:31
    DoxieDad
    +1
    Better sleaze then poor management.
  • luvguins DoxieDad 2012/03/18 03:40:50
    luvguins
    +1
    Management has been fine even with GOP sabotage and obstruction. Of course if you're filthy rich you want Mitt as your man.
  • DoxieDad luvguins 2012/03/18 03:47:52
    DoxieDad
    Filthy? Pooh, now that hurt. I want to be Obscenely Rich.
    So tell me, who is the average schmuck that makes about 50K, has a 2 year college degree in economics and drives a 2009 Prius that is running for President?
    Since you have a problem with people with money that also disqualifies Obie as well.
  • luvguins DoxieDad 2012/03/18 04:28:13
    luvguins
    +1
    Well at least the president isn't promising tax breaks for the richest, removing the estate tax on them, and zero tax on corporations. An average schmuck could run if all the money was removed from campaigns, and Citizens United was repealed instead of a millionaire super bowl.
  • DoxieDad luvguins 2012/03/18 04:42:50
    DoxieDad
    Don't get caught up in the same liberal mantra. First, what is wrong with not having or at least a fair estate tax? A person goes and works all thier life invests right while paying all thier appropriate taxes and builds a big nest egg to pass down to their family. What makes you think you are entitled to that through onerous taxes? Both parties are guilty of the corporate tax structure. CU will eventually be repealed. And the average schmuck will never be able to run for high government office.
  • luvguins DoxieDad 2012/03/18 05:10:07
    luvguins
    +1
    Is zero estate tax fair? It has been varying over the years to estates above 1 million to above 5 million. Doesn't really effect many, but we know those folks don't want to pay any taxes while alive either. The tax code we have now favors them as it is.
  • DoxieDad luvguins 2012/03/18 15:32:08
    DoxieDad
    Nobody wants to pay taxes and many in the middle to the bottom don't. Make things fair? Then change the tax code. That money whether it be 5 M + or 50 K + had taxes paid on it when it was earned. Taxes were paid when investments paid dividends and now many feel it is proper to tax it at up to 50% when it is handed down as an estate. I don't have anything like that but that to me is fundamentally unfair and pushed by those who feel they have the right to somebody eles's life.
    Want to make taxes FAIR? Then either have Flat Tax or a Consumption Tax where EVERY ONE pays into the system. There should be no free rides in this country.
  • luvguins DoxieDad 2012/03/18 15:47:11
    luvguins
    When you can show me that one can get by with a $21,000.00 salary a year or less (poverty level) after paying 15% in federal taxes flat or fair I'll be eager to hear how with 2012 prices.

    If millionaires and billionaires don't want to pay the lowest top rate in history now, and most are paying 10-15% less than that an estate tax could be levied, but at a lower rate than current.
  • DoxieDad luvguins 2012/03/18 16:34:40
    DoxieDad
    Well if you're making 21K what is the answer to living a better life style? Get a better paying job. Sorry to burst your bubble but I believe everyone who lives in this country should pay a minimum 10% into the system with no refund checks beyond that 10%. 21K is a job a Mikey D's. If you're not willing to better yourself then it is only the reflection in the mirror to blame.
    So lets bring that top rate back up to 35 or 40% for those making over a million. The Federal Estate Tax this year is 35% after the first 5 million and goes to 55% after the first million next year. Does that calm your heart or do you think more should be taken.
    That will still do nothing to change the situation of the 21K earner.

    OBTW, When tested I was found to have a very low Empathy score so don't try to play Whoa Is Me game. It doesn't work.
  • luvguins DoxieDad 2012/03/18 18:04:55
    luvguins
    Wouldn't dream of it as there are so many more that do have some empathy. Why Gates and Buffet are giving their fortunes out, and folks use the $11,000 yearly gifting exclusion to reduce their estates.
  • DoxieDad luvguins 2012/03/19 00:25:44
    DoxieDad
    Actually I wish Warren Buffet would give his entire fortune to the IRS and shut up! Bill and Malinda Gates help the needy on their terms not the governments.
  • luvguins DoxieDad 2012/03/19 05:09:22
    luvguins
    He and hundreds of other millionaires don't mind paying more tax they have said. The right pays attention to a two bit lobbyist and signs a pledge to him to never raise taxes. Insanity.
  • DoxieDad luvguins 2012/03/20 05:14:48
    DoxieDad
    There is no law prohibiting anyone Millionaire or not from paying more to the IRS then is legally required of them. If Warren Buffet and others feel that is it their Patriotic duty to pay more to the tax man then Congress need not make any law or raise the tax rates to make them do it. As for Grover Norquist and his Tax Pledge, nothing prohibits any politician from not honoring the pledge. They are afraid of Norquist and his political shenanigans when re-election time comes. Welcome to the world of politics 101 USA style.
    Just admit it, those on the left think that those who have money do not pay a fair share of the tax burden when they actually carry a disproportionate amount as opposed to the rest of the population. Everyone should pay a minimum income tax into the system. It is the right of living in this country.
  • luvguins DoxieDad 2012/03/20 17:14:17
    luvguins
    The poor are taxed into more poverty by a myriad of other taxes. You righties want to get blood out of a stone.

    No politician should sign any pledge to a lobbyist under the duress of threatening their job. It is pure cronyism and unfair politics.
  • DoxieDad luvguins 2012/03/21 03:33:07
    DoxieDad
    " You righties want to get blood out of a stone."

    What taxes are the poor, poor, pitiful poor paying that somebody else isn't? Give us a break with that outdated whine.
    We don't blood from a stone. We want exactly what the lefties are always whining about. Fairness!
    Everyone rides? Everyone pays thier Fair Share.

    The pledge is stupid and box these idiots put themselves in and have no one to blame but themselves.
  • luvguins DoxieDad 2012/03/21 04:39:02
    luvguins
    How about millionaires and billionaires and corporations paying their fair share? They haven't for years from when tax shelters first began. The poor have no loopholes federally after paying all the other taxes that everyone does.
  • Atmara luvguins 2012/03/18 18:13:09
    Atmara
    +1
    Dis be my prick

    glenn beck mormon
  • ὤTṻnde΄ӂ 2012/03/18 01:55:12
  • Atmara ὤTṻnde΄ӂ 2012/03/18 18:15:27
  • The Thinking Woman 2012/03/18 00:14:12
    The Thinking Woman
    +4
    Like all of these idiots, nothing but greedy
    hypocrites
    hypocrites
    hypocrites
  • beavith1 2012/03/17 23:53:45
    beavith1
    +3
    oh brother.

    his trustee is running his assets.

    'to make his investments match his political stands as much as possible.'

    'keeping the GOP honest is going to be a gargantuan task?'

    let's ask the president how his ideal of not hiring lobbyists for his WH staff is coming...
  • luvguins beavith1 2012/03/18 00:02:19
    luvguins
    +5
    If you believe the Mittster does not know every move his trustee is making, I have a bridge real cheap for you.
    Foul
  • beavith1 luvguins 2012/03/18 00:08:35
    beavith1
    +2
    do you know what a trustee does?

    and its no foul. its an appropriate application of reality. weren't you the one that told me K street was what was wrong with Washington?
  • luvguins beavith1 2012/03/18 00:50:44
    luvguins
    +3
    The president isn't on K Street, but Santorum and Gingrich sure were. Who orchestrated TARP for Bush, but Goldman Sach's, Hank Paulson. Both parties are guilty, but the GOP won't stop it if they get power.
  • beavith1 luvguins 2012/03/18 00:58:56
    beavith1
    +2
    waitaminit! you accused me of making an annoying observation.

    its annoying because its correct. by your own assessment, Romney isn't part of that cabal..

    what the heck, Guins?

    i thought that we agreed that K St was the problem?
  • luvguins beavith1 2012/03/18 01:21:29
    luvguins
    +2
    K Street is the problem. You don't think BaIn has a lobby on K Street? Bet so.
  • beavith1 luvguins 2012/03/18 02:30:37
    beavith1
    +2
    Romney has a trustee.

    at least on THAT score, he's clean. we wouldn't know what if that wouod remain the case until he'd get elected...
  • luvguins beavith1 2012/03/18 03:24:57
    luvguins
    +3
    And millions stashed offshore to avoid taxes. Just another thing that will make him look sleazy to voters.
  • beavith1 luvguins 2012/03/18 03:36:01
    beavith1
    +2
    ask the trustee...
  • Jackie ... beavith1 2012/03/18 05:04:00
    Jackie G - Poker Playing Patriot
    +1
    Just the left being stupid, they do not understand economics as proven by the incompetent they support. A blind trust is meaningless to them unless it is a lib, then they think it is a great idea.
  • beavith1 Jackie ... 2012/03/18 05:13:30 (edited)
    beavith1
    +1
    it may just be that they don't understnd what a blind trust is, or how a blind trust operates.

    i'll assume that until i see otherwise...
  • Jackie ... beavith1 2012/03/18 05:17:43
    Jackie G - Poker Playing Patriot
    Look at the answer just below - clearly they have no understanding
  • beavith1 Jackie ... 2012/03/18 05:21:08
    beavith1
    +1
    groan....

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