Green Room

Trouble in paradise: Obama has offshore investments in Cayman Islands

posted at 1:20 pm on October 18, 2012 by

It appears that Mitt Romney is not the only candidate for president with investments in the Cayman Islands. Another candidate has investments offshore in that island paradise as well. His initials are B.O., as in body odor.

Politifact, one of the left’s favorite sources of campaign dirt, confirms that “investments made by managers of the Illinois pension fund in which Obama has an account” does indeed have holdings in the Cayman Islands.

The site notes that “one of the tense moments in the second presidential debate” centered on Romney’s claim that the president invests in foreign firms. “Mr. President,” Romney asked, “have you looked at your pension? Have you looked at your pension?” Obama’s response—“You know, I don’t look at my pension. It’s not as big as yours so it doesn’t take as long”—earned appreciative cackles from the audience and generated a round of high fives and applause among “impartial” liberal “journalists” back in the spin room.

Romney followed up with the advice to Obama that you “have investments outside the United States” including “investments through a Caymans trust”—which, in fact, is true.

What makes the revelation damning for the Obama camp is their repeated insinuations that Romney’s “foreign investments” are selfish and un-American. Politifact reminds the reader of a July 2012 ad by the Obama campaign lambasting Romney for his millions in the Cayman Islands, among other “tax havens.”

If there is solace to be taken in Obama’s bitter acceptance of the truth that he is as selfish and un-American as Romney, it is the fact that nothing illegal or improper about offshore investments made through a blind trust.

This revelation is not the first of Obama’s hypocrisy in calling the kettle black. As noted in this space in May:

[T]he bulk of the Obamas’ admittedly brief portfolio is invested in Chicago-based Northern Trust Corporation, a firm that has conducted itself in a manner that some might call ‘vampire-like.’ In 2003, the company, which was a trustee of Enron’s 401(k) retirement plan, was accused of having knowingly failed to prevent employees’ pensions from evaporating. A federal judge cleared the way for a lawsuit against Enron and Northern Trust for ‘misleading company employees by encouraging and in some cases requiring them to hold Enron stock in their retirement accounts, at a time when the stock price plummeted from an artificially inflated level.’ In the case, which commanded national attention, several former Enron executives were charged with manipulating the company’s financial results, ultimately driving it into bankruptcy. [Obama’s tax return for 2011 is here.]

Another discomfiting fact that the Obama campaign would rather not publicize is his having accepted $16 million in Wall Street campaign contributions, an amount that is five times greater than the $2.7 million received from the same source by George W. Bush.

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Comments

Romney needs to hit Obama with this on Monday. Show him to be a hypocrite.

Bitter Clinger on October 18, 2012 at 1:27 PM

Unfortunately, I expect the moderator to run screen for Hussein and stop Romney from delivering deathly accurate facts.

riddick on October 18, 2012 at 1:33 PM

Unfortunately, I expect the moderator to run screen for Hussein and stop Romney from delivering deathly accurate facts.

riddick on October 18, 2012 at 1:33 PM

Considering how much grief Candy Crowley is taking, I wonder if “Jurassic Bob” would risk it.

Bitter Clinger on October 18, 2012 at 1:36 PM

And already bankrupt IL is going to be stuck paying for this useless idiot forever as I’m sure his pension along with those of the rest of the corruptocracy in the state assembly will be exempt from whatever reforms if reforms are ever agreed upon or implemented.

stukinIL4now on October 18, 2012 at 2:14 PM

Ouch

cmsinaz on October 18, 2012 at 2:19 PM

He’s gonna need it. Michelle’s gravy train is screeching to a stop.

CurtZHP on October 18, 2012 at 2:24 PM

Let’s just face the facts.

Obama is a serial liar. A hypocrite, and suffers from extreme narcissism..

Practically everything he touches turns to $#it sooner or later because Obama is a user, he produces nothing, he uses everything and everyone he comes in contact with until he has no further need for them and the discards them..

Basically Obama is a worthless POS.

RockyJ. on October 18, 2012 at 2:58 PM

I have to laugh , I just heard an Obama campaign clip on the news (radio)
Obama said:

“Romney’s tax plan won’t work, economist agree it will blow up the deficit..” or there abouts…

Well I wonder what the boy wonder thinks it was he did over the last 3.5 years??

He acts like he just arrived on the scene and is going to save us all from the last idiot, who just so happens to be HIM.

RockyJ. on October 18, 2012 at 3:07 PM

That exchange was one of my favorite parts of the debate. The desperation and panic apparent as they tried to cut Romney off was amusing indeed.

tsagen on October 18, 2012 at 3:08 PM

This revelation is not the first of Obama’s hypocrisy in calling the kettle black

Calling the kettle black? REALLY? Why you filthy racists!

-C. Matthews

Kenz on October 18, 2012 at 3:20 PM

Incredible that Dem voters despise “Wall Street,” complain about them constantly and how those “plutocrats” have too much power, support movements like OWS, and yet line up to vote for the guy who shatters records for Wall Street campaign donations.

Don’t Dem voters stop and -just for a second- wonder WHY Obama gets so much cash from Wall Street? Unbelievable.

It reminds me of Leftists ripping on “Big Pharma” for years on end, then when Big Pharma is revealed to be a huge supporter of ObamaCare they don’t care or wonder why. WTF

visions on October 18, 2012 at 3:34 PM

His initials are B.O., as in body odor.

Best line of the year.

rrpjr on October 18, 2012 at 4:46 PM

I don’t imagine that the boy wonder is all that worried about that measly pension in Illinois when he’s got all that under the table dough coming in. Have the Feds found their missing new $100 dolla bills yet? um hum.

Kissmygrits on October 18, 2012 at 5:16 PM

Obama’s response—“You know, I don’t look at my pension. It’s not as big as yours so it doesn’t take as long”—

This on it’s face is a silly comment. What exactly does he mean? If it doesn’t take as long to read, how is that a reason not to look at it? I know it was meant to be funny and his base probably got a kick out of it without trying to make sense of it.

hopeful on October 18, 2012 at 8:01 PM

He also accepted political donations from Bain.

Romney spokeswoman Andrea Saul noted on Tuesday that Obama himself has accepted six figures’ worth of political donations from executives of Bain Capital, Mitt Romney’s old investment firm.

“President Obama has based his entire reelection campaign on a vicious, dishonest assault on Mitt Romney’s business career. The real question for President Obama is this: if Bain Capital is so bad, why have you taken nearly $120,000 in donations from them? President Obama’s actions are the height of hypocrisy,” Saul declared.
.
The precise total is $118,121, and Obama has been taking that Bain money ever since he ran for the Senate. Furthermore, as noted by ABC News, “One of Obama’s top campaign financiers – Jonathan Lavine – is also managing director at Bain, bundling between $100,000 and $200,000 in contributions for the 2012 Obama Victory Fund, according to estimates released by the Obama campaign.” Humorously, Lavine is also the executive who is actually responsible for some of the decisions Obama has most stridently hammered Romney for, even though they were decisions made after Romney left the company

http://www.humanevents.com/2012/07/18/obama-takes-bain-donations-and-has-offshore-investments/

avagreen on October 18, 2012 at 8:27 PM