Epic Fail

Woops! Another Financial Skeleton in Romney’s Closet

Via the LA Times, a close examination and cross-checking of Mitt Romney's 2010 tax return has revealed discrepancies between his tax return and his financial disclosure forms which are a requirement of running for office.

Some investments listed in Mitt and Ann Romney’s 2010 tax returns – including a now-closed Swiss bank account and other funds located overseas – were not explicitly disclosed in the personal financial statement the GOP presidential hopeful filed in August as part of his White House bid.

The Romney campaign described the discrepancies as “trivial” but acknowledged Thursday afternoon that they are undergoing an internal review of how the investments were reported and will make “some minor technical amendments” to Romney’s financial disclosure that will not alter the overall picture of his finances.

A review by the Los Angeles Times/Tribune Washington Bureau found that at least 23 funds and partnerships listed in the couple’s 2010 tax returns did not show up or were not listed in the same fashion on Romney’s most recent financial disclosure, including 11 based in low-tax foreign countries such as Bermuda, the Cayman Islands and Luxembourg.

I'm sure it's not a coincidence that the financial disclosure form filed last year did not contain a comprehensive list of funds housed in off-shore tax havens. If it had, his candidacy might have died before primary voting even began. And I don't believe writing off this kind of discrepancy as "trivial" would work for any other candidate including, and especially, the president. Now the Republicans are stuck with jolly ole Mitt and his financial baggage.

The only question is -- does this mean he will fire the men who did the shine job on this disclosure forms?