July 9th, 2012
06:09 PM ET

Dems slams Romney for off-shore accounts; Erin Burnett looks at the benefits

Democrats are calling for Presidential Candidate Mitt Romney to explain his offshore accounts after a report in Vanity Fair questioning his personal finances.

On CNN's State of the Union, Robert Gibbs, adviser to Pres. Barack Obama's campaign called for Romney to release more of his tax returns.

CNN's Erin Burnett breaks down the benefits Mitt Romney can benefit from having overseas accounts.

Tune to Erin Burnett OutFront at 7p & 11p  ET

Gibbs blasts Romney for overseas accounts

President Barack Obama's campaign adviser Robert Gibbs continued to hammer Mitt Romney on Sunday over questions about the candidate's overseas financial accounts.

Gibbs, however, stopped short of saying whether Romney was in violation of any tax evasion laws, saying "nobody knows."

The best way to figure out if he is complying with American tax law is to have him release more of the tax returns," the former White House press secretary said on CNN's "State of the Union."

Gibbs linked Romney's reported offshore investments in Bermuda, the Cayman Islands and Switzerland to his history as a private equity CEO, painting the candidate as out of touch and too eager to place money overseas rather than in America.

"I pick a bank because there's an ATM near my home," Gibbs told CNN Chief Political Correspondent Candy Crowley. "Romney had a bank account in Switzerland."

Filed under: 2012 Election • News • Politics
soundoff (2 Responses)
  1. Robert

    Another item. If the shoe was on the other foot and Obama had large foreign accounts and did not reveal his taxes, most likely he would be accused of working for a foreign group or another country and would be castigated as unpatriotic. Right???

    July 9, 2012 at 11:31 pm | Reply
  2. Robert

    Erin. Kudos for your coverage of candidate Romney's foreign accounts and his lack of disclosure of his previous years and current tax disclosures. As a veteran, former foreign service officer, current private investor and (true) consrvative you are rausing worthwhile issues. Unless Romney has a total disregard for our system and business principles why in the world is he holding back this information. He is asking for the American vote but refuses to disclose his financial information. Would he get a loan from the American public. I hope not until he reveals much more. Also, I am concerned about secret foreign accounts. Its a well known mecainism in moving illegal money including funds from foreign countries to an account. Does not take much for the Chinese, et al to move money into someone's offshore account even if it blind trust. Rember the Chinese were providing funds nearly in the open via Thai businessmen to Clinton. Also, one can only wonder about USD100 million forfeited by the Las Vegas Sands organization on land in Macao. What company would do that unless it serves other purposes and then part of these funds finds its way into US political campaign. Interesting thought. But that's the way things are done in Asia. Erin can you check this out??? Keep up the good work.

    July 9, 2012 at 11:27 pm | Reply

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