Mitt Romney using ethics exception to limit disclosure of Bain holdings - Ethics Newsline
Republical Presidential candidate Mitt Romney has been using a loophole in federal ethics laws to avoid disclosing his investments in and related to Bain Capital, a private equity firm in Boston he helped found. The Office of Government Ethics, responsible for overseeing disclosure of such information, finds no legal fault with Romney's desire to keep the information private. Some politicians and many citizens feel Romney's immense wealth (estimated at several hundred million dollars including trust funds, investments, bank accounts and property holdings) is why he lacks a connection with the majority of Americans who lack such vast resources. Also causing some questions is Romney's desire to withhold his tax records for another six months. President Obama has already released his and his wife's record which is freely available online. Some see this as an attempt by Romney to hide not only his wealth but low taxes he paid on income for 2011. It isn't uncommon for politicians, especially presidential hopefuls, to put as much out for the public to see as is reasonable, such that they face less scruitiny versus those who try to hide as many details as possible.
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