YOU KNOW THE GREATEST THING ABOUT AMERICA IS THAT A LIER WILL SOONER OR LATER BE FOUND OUT. DON'T YOU AGREE;"Team Obama dings Romney for undisclosed Bermuda holdings
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New details have emerged about a Bermuda-based company that was omitted from Mitt Romney’s numerous financial disclosure reports.
President Obama’s re-election campaign pounced on recent reports about Mitt Romney’s offshore holdings as new details emerged about a Bermuda-based company that was omitted from multiple financial disclosure reports.
In a Twitter post, the Obama campaign quoted Vice President Joe Biden as saying last week, “We need to choose someone who invests in America, not in a Swiss bank account.”
The campaign also linked to a map highlighting the tax havens where Romney has reportedly kept funds: Ireland, Switzerland, Luxembourg, Bermuda and the Cayman Islands.
A Bermuda company called Sankaty High Yield Asset Investors Ltd. was under particular scrutiny Wednesday.
According to a report by the Associated Press, Sankaty was transferred to a trust owned by Romney's wife, Ann, one day before he was sworn in as governor of Massachusetts in 2003.
The offshore company did not appear on financial reports until it was revealed in the Romneys' publicly released 2010 tax records.
While those records show Sankaty had almost no assets, tax experts told the AP that such partnership stakes could still bring in significant income.
The Romney campaign has insisted that the candidate met all disclosure requirements and did not use offshore accounts to avoid U.S. taxes.
Although there is no evidence that the omission of Sankaty and other holdings was improper, the reports renew questions about how the Republican candidate has managed his fortune and taxes.
It also provides fodder for critics like Obama campaign adviser David Axelrod, who sent a series of tweets Wednesday accusing Romney of playing “hide-and-seek” with his personal finances.
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