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DNC Chair Wasserman-Shultz Invested in Swiss Banks and other Foreign Investments.

Bronson

Bronson

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You know I was reading the "Evil Romney and his murky finances" thread and realized the people objectifying Romney as some "Evil Rich" villain twirling his mustache don't realize 3 critical facts:

1) You cannot hide anything in a Swiss Bank account. We have a Treaty with Sweden that makes it against the law to do so

HowStuffWorks "Swiss Bank Account Laws and Regulations"

International mutual assistance in criminal matters

Switzerland is required to assist the authorities of foreign states in criminal matters as a result of the 1983 federal law relating to International Mutual Assistance in Criminal Matters. Assets can be frozen and handed over to the foreign authorities concerned. Assistance in criminal matters follows the principles of dual criminality, specialty and proportionality.
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2) Romney is the one who disclosed that he had a Swiss Bank account on his tax records

3) Romney paid taxes on the bank account to the US Government

So since the new emotional talking point is Swiss Bank Account = Evil can you Obama Supporters please explain this hypocrisy to me? Thank you:

Dem. Chair Invested in Swiss Banks, Foreign Drug Companies, and the State Bank of India | The Weekly Standard

"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, despite continuously calling on Romney to do so.
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Yep.. dumb as a doorknob Wasserman Shultz is so stupid she thinks that if she thows bricks in a glass house nobody would know..

I for one can care less what she does with her money if its made in the private sector...etc..
 
Travis007 said:
Yep.. dumb as a doorknob Wasserman Shultz is so stupid she thinks that if she thows bricks in a glass house nobody would know..

I for one can care less what she does with her money if its made in the private sector...etc..
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No personal judgement on what she does with her finances, I agree

Having a Swiss Bank Account is not illegal. Suddenly we're supposed to vote to give the worst president in American History a second term because liberals want to distract us with "Swiss Banks = Evil. Run for your lives!" symbolism.

The Dark Side of Anti-"Swiss Bank Account" Politics - Reason.com
 
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Bronson said:
1) You cannot hide anything in a Swiss Bank account. We have a Treaty with Sweden that makes it against the law to do so
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From the start I knew this was going to be a well thought out thread.
 
Crosscheck said:
From the start I knew this was going to be a well thought out thread.
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Actually believing that Romney has done something illegal by having a Swiss Bank Account is akin to believing that "Bush knocked down da towers" and "9/11 was an inside job".

We have definitive proof that Obama hung around domestic terrorists Bill Ayers and Bernadine Dohrn. What would happen if I applied your standards and emotional leaps in logic like Obama and the Democrats are doing with Romney and his "Shady Swiss Bank Account"? What could possible go wrong? :lol:
 
Wiseone said:
lol

(ten characters)
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Swiss Bank Accounts: Why Mitt Romney (or an Average Joe) Might Want One - DailyFinance

But not so fast: In fact, there is transparency, Lodmell said. When opening a Swiss bank account, Americans have to file an FBAR form with the IRS that discloses the assets. Back when the "international man of mystery" concept of the Swiss bank account holder was born, that wasn't the case. These days, it's not such a good tax dodging device.
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Report of Foreign Bank and Financial Accounts (FBAR)
 
Bronson said:
Actually believing that Romney has done something illegal by having a Swiss Bank Account is akin to believing that "Bush knocked down da towers" and "9/11 was an inside job".

We have definitive proof that Obama hung around domestic terrorists Bill Ayers and Bernadine Dohrn. What would happen if I applied your standards and emotional leaps in logic like Obama and the Democrats are doing with Romney and his "Shady Swiss Bank Account"? What could possible go wrong? :lol:
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I don't remember ever attacking Romney about his Swiss account and actually said going after that was wasteful as trying to prove the Obama was not born in Hawaii.

But if you are going to list that Wasserman had up to $15,000 invested in the 401 Financial Fund then why don't you let us know how much Romney had invested over there?
 
Travis007 said:
Yep.. dumb as a doorknob Wasserman Shultz is so stupid she thinks that if she thows bricks in a glass house nobody would know..

I for one can care less what she does with her money if its made in the private sector...etc..
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She really is a blathering twit isn't she? and the dems used to call Palin stupid
 
TurtleDude said:
She really is a blathering twit isn't she? and the dems used to call Palin stupid
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shes horrid... like all these libs with Obama, there is not a decent one sadly..
 
Crosscheck said:
I don't remember ever attacking Romney about his Swiss account and actually said going after that was wasteful as trying to prove the Obama was not born in Hawaii.

But if you are going to list that Wasserman had up to $15,000 invested in the 401 Financial Fund then why don't you let us know how much Romney had invested over there?
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What is illegal about Romney's Swiss bank Account?

What about Romney's Swiss Bank has had a negative impact on the economy?

Please use details sources. Thank you.
 
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Did I miss the development where Shultz is running for President?
 
Bronson said:
No personal judgement on what she does with her finances, I agree

Having a Swiss Bank Account is not illegal. Suddenly we're supposed to vote to give the worst president in American History a second term because liberals want to distract us with "Swiss Banks = Evil. Run for your lives!" symbolism.

The Dark Side of Anti-"Swiss Bank Account" Politics - Reason.com
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Just a guess, and I would doubt if I could find any link, but I would bet that Government Motors and GE, to name a couple, also have foreign bank accounts. Operating a multinational company, or investing in same, is not illegal, and having a Swiss bank account would have many advantages, like taking advantage of the best exchange rates. But, if that is all you've got, that is all you've got.
 
haymarket said:
Did I miss the development where Shultz is running for President?
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In actuality shed be as good as Obama,, she couldnt be worse...its the differenced between "incompetent vs stupid"...
 
haymarket said:
Did I miss the development where Shultz is running for President?
Click to expand...

(ten characters)

"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, despite continuously calling on Romney to do so.
Click to expand...
 
Bronson said:
...You cannot hide anything in a Swiss Bank account. We have a Treaty with Sweden that makes it against the law to do so...
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My Swiss friend Tina..is NOT from Sweden. And my friend from Sweden...Katerina, is NOT Swiss.
 
Travis007 said:
In actuality shed be as good as Obama,, she couldnt be worse...its the differenced between "incompetent vs stupid"...
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So she is her parties nominee for President????
 
Wait, let me get this straight ... someone is trying to equate the fact that Romney had $3 million of his money in a Swiss bank account ... with Wasserman-Schultz having between $1k and $15 in a 401(k) fund that had *part* of that money invested in a mutual fund that invested *part* of its money in the stock of a Swiss bank? :2rofll:
 
AdamT said:
Wait, let me get this straight ... someone is trying to equate the fact that Romney had $3 million of his money in a Swiss bank account ... with Wasserman-Schultz having between $1k and $15 in a 401(k) fund that had *part* of that money invested in a mutual fund that invested *part* of its money in the stock of a Swiss bank? :2rofll:
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Well, Mitt just happened to have a good day at the horse races............lol.
 
AdamT said:
Wait, let me get this straight ... someone is trying to equate the fact that Romney had $3 million of his money in a Swiss bank account ... with Wasserman-Schultz having between $1k and $15 in a 401(k) fund that had *part* of that money invested in a mutual fund that invested *part* of its money in the stock of a Swiss bank? :2rofll:
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The one is about as relevant as the other, and neither is relevant at all. It is not illegal to have a Swiss or other foreign bank account, or invest in foreign stocks other investments. Nearly all the large corporations, the ones on the NY exchange do business in other countries.

This is just another talking point designed to make a point of the haves vs the have nots. From one of the haves.
 
so, the Congresswoman has a 401k that invested in Swiss banks.

Meanwhile Romney, the multi-millionaire, has Swiss bank accounts.

how exactly are they connected in any way?

how exactly are they similar?
 
jimbo said:
The one is about as relevant as the other, and neither is relevant at all. It is not illegal to have a Swiss or other foreign bank account, or invest in foreign stocks other investments. Nearly all the large corporations, the ones on the NY exchange do business in other countries.

This is just another talking point designed to make a point of the haves vs the have nots. From one of the haves.
Click to expand...

Err, hardly. There is nothing remotely suspicious about having a small mutual fund in 401(k) that invests some of its money in foreign bank stocks. OTOH, there IS something somewhat suspicious about have several million dollars in a Swiss bank acccount, which is a frequent vehicle used by tax scoffs and other criminals to launder money.

There is probably a perfectly legitimate explanation for Romney's arrangements, but they do raise some suspicion and -- since he's running for President of the United States -- I think it's reasonable to ask him to explain them.
 
AdamT said:
Err, hardly. There is nothing remotely suspicious about having a small mutual fund in 401(k) that invests some of its money in foreign bank stocks. OTOH, there IS something somewhat suspicious about have several million dollars in a Swiss bank acccount, which is a frequent vehicle used by tax scoffs and other criminals to launder money.

There is probably a perfectly legitimate explanation for Romney's arrangements, but they do raise some suspicion and -- since he's running for President of the United States -- I think it's reasonable to ask him to explain them.
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translation-a mouthpiece for Obama 2012 wants to divert from Obama's failed administration and try to insinuate that Romney has done something wrong in order to get the weak minded minions of the left to whine some more

you never asked Obama to explain his associations with known terrorists, how his wife got a 200K raise once Obama won a senate seat, or how he paid his way through Columbia and HLS (or got in in the first place)

why don' t you just admit that your goal is to smear your man's opponent and stop with the phony BS?
 
comparing millions of dollars being held in a Swiss bank-account, to having a few thousand dollars in a 401k that has as one of its MANY investments, shares in a Swiss bank...is the zenith of stupidity & absurdity.
 
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