View Full Version : Dem. Chair Invested in Swiss Banks. Rut Row!!

07-11-2012, 07:01 AM
I guess size does matter. /forums/images/%%GRAEMLIN_URL%%/whistle.gif /forums/images/%%GRAEMLIN_URL%%/wink.gif

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http://www.weeklystandard.com/blogs/dem-...dia_648350.html (http://www.weeklystandard.com/blogs/dem-chair-invested-swiss-banks-foreign-drug-companies-and-state-bank-india_648350.html)
<span style='font-size: 23pt'>Dem. Chair Invested in Swiss Banks, Foreign Drug Companies, and the State Bank of India</span>

Disclosure forms reveal that Democratic National Committee chair Debbie Wasserman Schultz, a member of Congress from Florida, previously held funds with investments in Swiss banks, foreign drug companies, and the state bank of India. This revelation comes mere days after the Democratic chair attacked presumptive Republican presidential candidate Mitt Romney for holding money in Swiss bank accounts in the past.

"Americans need to ask themselves, why does an American businessman need a Swiss bank account and secretive investments like that?" the DNC chair, a chief surrogate for President Obama's reelection team, said on Fox News Sunday two days ago. "Just something, a thought, that I'd like to leave folks with."

It's been a consistent theme of Obama's reelection strategy: Attack Romney for foreign investments he held, especially in Swiss bank accounts, "to try to promote his wealthy, out-of-touch businessman persona."

But disclosure forms reveal that in 2010, Wasserman Schultz invested between $1,001-$15,000 in a 401k retirement fund run by Davis Financial Fund. As the fund discloses, it is invested in the Julius Baer Group Ltd. and the State Bank of India GDR Ltd., as well as other financial, insurance, bank institutions.

"The Julius Baer Group is the leading Swiss private banking group, focusing exclusively on the demands of sophisticated private clients, family offices and external asset managers from around the world," its website explains. "Bank Julius Baer is the principal operating company of the Julius Baer Group, with origins dating back to 1890. The rich Swiss heritage becomes manifest in the values for which the Bank stands, e.g. trustworthiness, accountability, discretion and expertise. However, at the same time Julius Baer is a modern, forward-looking company at the leading edge of a genuine growth industry."

Similarly, according to disclosure forms from 2004, Wasserman Schultz had holdings in the Fidelity Advisor Overseas Fund. That fund is invested in HSBC bank (a British financial institution), Hengdeli Holdings (a Hong Kong watch company), Novo Nordisk (a Danish drug company), Volkswagen (a German auto company), Rakuten (a Japanese shipping business), Richemont Cie Financiere (a Swiss luxury goods company), and many others.

To be clear, there is nothing in Debbie Wasserman Schultz's disclosure forms to suggest that the DNC chair invested in anything illegal. But it is clear that some of her holdings had investments overseas, in Swiss banks, foreign drug companies, the state bank of India, and many other overseas holdings.

The hypocrisy, though, is clear: The Democrats, as well as President Obama, hope to paint Romney as an out of touch man for holding money in overseas bank accounts, when in reality their own chairman, Wasserman Schultz, had overseas investments.

All this comes in addition to Wasserman Schultz's refusal to disclose her own tax returns, http://www.weeklystandard.com/blogs/dnc-...own_648292.html (http://www.weeklystandard.com/blogs/dnc-chief-urges-romney-release-tax-returns-wont-release-her-own_648292.html) despite continuously calling on Romney to do so.

07-11-2012, 01:49 PM
Size does matter. Good call!

And I would agree with any call to refuse to vote for Debbie Wasserman Schultz FOR PRESIDENT, until she releases all the demanded materials.

However, the stated hypocrisy is nowhere to be found in this reporting.

WHY did DWS have overseas investments? And how did those investments reach such titanic sizes, given the contribution limits?

Clearly, she has an entirely sensible and correct answer: the small amount of money was clearly within the contribution limits, and it was the choice of a fund or advisor she used.

Romney sorta could claim the latter, if the reason he ended up with ownership of things (as part of his severance) was that those things were ORIGINALLY foreign. As in fact they were, the various Bain partnership things and others.

However, this explanation doesn't really work for Romney, since HE put them there for Bain in the first place.

They don't call it the Weakly Standard for nothing. Very weak, and more an analogy that doesn't even work than a parallel situation.

When you find her $100 million dollar plus IRA account, get back to us.

07-11-2012, 02:34 PM
As always, you slavishly support the regime.

07-11-2012, 02:36 PM
Factcheck.org came down on Romneys side today.

07-11-2012, 02:42 PM
OOPSY ... OUTSOURCING WITH MISS NANCY! (http://dailycaller.com/mattlewis/)

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><span style='font-size: 17pt'>According to Pelosi’s 2011 financial disclosure statement, the Democratic House Minority Leader received between $1 million and $5 million in partnership income from*”Matthews*International Capital Management LLC,” a group that emphasizes that it has a*“A Singular Focus on Investing in Asia.” A quick trip to the company website reveals a featured post extolling the virtues of outsourcing.</span>

“Designed in California, Made in Manila” sounds like an excellent title for a smear ad to be run the by the Barack Obama campaign. Instead, it appears to be Nancy Pelosi’s investment strategy.

<span style='font-size: 17pt'>Pelosi is also a small investor in the embattled “Moduslink Global,” one of the “outsourcing pioneers” that Mitt Romney has been criticized for associating with while at Bin Capital. </span></div></div>

<span style='font-size: 26pt'>RELEASE THE CRICKETS!</span>

07-11-2012, 02:47 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sev</div><div class="ubbcode-body">Factcheck.org came down on Romneys side today. </div></div>


07-12-2012, 12:20 AM
Do you ever read what you post because this is a load of garbage. Its typical GOP noise-machine-Luntz utter crap.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Disclosure forms reveal that Democratic National Committee chair Debbie Wasserman Schultz, a member of Congress from Florida, <span style='font-size: 17pt'>previously <u>held funds with investments</u> in Swiss banks, foreign drug companies, and the state bank of India.</span></div></div>

<span style="color: #3333FF">Only an idiot or a partisan wingnut would fall for that. There is a big difference between owning shares in a Swiss Bank and having a Swiss bank account. Apples and Oranges.</span>

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> This revelation comes mere days after the Democratic chair attacked presumptive Republican presidential candidate Mitt Romney for <u>holding money in Swiss bank accounts</u> in the past.

Again they try to divert the conversation away from the main criticism about Romney which is <span style='font-size: 14pt'>his LACK of disclosure and what does he have to hide?</span>


<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Senate Majority Whip Dick Durbin (D-Ill.) blasted Mitt Romney's foreign investments on Sunday, saying there's no good way to explain the Republican presidential candidate's Swiss bank account.

"You either get a Swiss bank account to conceal what you're doing, or you believe the Swiss franc is stronger than the American dollar," Durbin said on CBS's "Face the Nation."

"He is the first and only candidate for president of the United States with a Swiss bank account, with a tax shelter, with tax avoidance schemes that involve so many foreign countries," Durbin said.

"<span style='font-size: 14pt'>Mitt Romney has failed to make an economic disclosure that every president and candidate for president has made in the last 36 years," Durbin said, noting that Romney has only released one year of tax returns.</span>

"When it comes down to his Swiss bank account, there's just no way to explain it," Durbin said. </div></div>

07-12-2012, 10:15 AM
Yeah, but she opaquely transferred her ownership to her husband's blind trust THE VERY DAY BEFORE she took her federal office in the House to avoid listing it in her required federal financial disclosure reporting, so it's quite comparable.

Oh, wait... she didn't do that, did she? Ooops! (-- Rick Perry)