New details about Romney's wealth confirm F. Scott Fitzgerald's quip about the rich
It’s a ticklish political situation for Romney, or at least has the potential to be. He wouldn’t be the richest man ever to run for the White House (that would be Ross Perot back in 1992 and 1996). But if elected, he would be the wealthiest president ever, according to the detailed reporting of Forbes Magazine’s “wealth team.”
Back during the Republican primaries and debates, it took some needling by Newt Gingrich and others to get Romney to release his tax returns for just two years (far fewer than the 23 years he provided Sen. John McCain in 2008 when Romney was being considered as McCain’s running mate). Meanwhile, thanks to the reporting of Forbes and others, the specifics of Romney’s wealth are known in greater detail.
Among them: $52 million in Bain & Company and Bain Capital funds, $23 million in mutual funds and exchange-traded funds (ETFs), $36 million worth of Federal Home Loan Banks consolidated obligations, an estimated $10 million of structured notes from Goldman Sachs and BNP Paribas, and a personal loan of $400,000 to the Romneys’ horse trainer.
This week, more details were revealed.
“For nearly 15 years, Republican presidential candidate Mitt Romney's financial portfolio has included an offshore company that remained invisible to voters as his political star rose,” the Associated Press reported.
