Obama team targets Mitt Romney's private finances
Romney faced pressure to release details of his finances during the GOP primary from Republican opponents who warned that the issue could follow him into the general election.
‘‘If there’s nothing in there, why not release them, and if there is something in them, better to know now,’’ former House Speaker Newt Gingrich said in January.
Romney did relent under party pressure and release his 2010 returns. That forced him to amend the personal financial disclosures he had filed earlier in the year because those documents didn’t mention a Swiss bank account or a series of funds that were set up in foreign countries. Romney has yet to release his 2011 tax returns; he filed for a time extension. His advisers say he'll release them before the Nov. 6 election.
Romney’s financial filings include at least six Cayman-based funds, worth between $7 million and $32 million, run by Bain. More than a dozen other funds based in the Caymans and Bermuda showed up on his 2010 federal tax returns. His campaign says he pays the same taxes he would if they were based in the United States.
Romney closed his UBS bank account in Switzerland in 2010 as he prepared to run for president.
Associated Press writers Kasie Hunt in Grand Junction, Colo., Ken Thomas in Cedar Rapids, Iowa, and AP deputy director of polling Jennifer Agiesta in Washington contributed to this report.
Follow Julie Pace at http://twitter.com/jpaceDC.