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One Of Romney’s Investment Advisers Warns Against The Tea Party
There is a lot to be desired when looking into Romney’s taxes and investments, but Gawker has acquired almost 1,000 pages of documents, delving into the black hole of the sources of Romney’s financial wealth.
One of the financial companies where Romney has parked between one million and five million dollars is called Prospect Harbor Credit Partners LP. Prospect Harbor Credit Partners LP is a Delaware limited partnership. As of 2009, it held $2.8 billion in assets.
Back in 2010, this company sent out a letter from its advisers to their investors. That letter warned of a coming fiscal catastrophe if the Republicans took control in the midterms.
With an economy that is still highly dependent on fiscal support, the outcome of the midterm elections could lead to gridlock that would have major ramifications for the economy. An expiration of stimulus would be a significant fiscal drag.”
Hold on, Romney’s financial advisers warned of gridlock? I say, GOOD CALL! The stimulus worked? That’s not what the Romney campaign said.
Not only does this statement fly in the face of Romney’s stated positions, but more importantly, the rest of the letter vindicates President Obama’s call for regulating Wall Street. “Regulation will improve liquidity and transparency” one slide on the adviser’s power point read.
Furthermore, Gawker delves into derivatives. A derivative is essentially a bet on top of a bet. The derivative market is what Warren buffet called financial weapons of mass destruction.
Romney, like many wealthy people, has invested in the derivatives market. This is where he made his money. He didn’t make it creating jobs or building businesses. Betting on bets is his bread and butter. He is a high stakes, legal, Wall Street insider — a gambler. Nothing more.
If Romney gets in, expect the derivative market to explode and cause a financial meltdown that will make 2008 look like child’s play once the derivative market is triggered by a default of some sort.
There is so much more and the details are great for college classes on how to become rich without working. If you desire to delve into everything for your own consumption, click here.
There are some shady, hidden aspects of Romney’s wealth, which is the only reason why I can see him not wanting to release his returns.
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8 Responses to One Of Romney’s Investment Advisers Warns Against The Tea Party
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Nancy
Aug. 23rd, 2012 at 5:08 pm
Love “parked his money”
Will that link show me how to grow an income investing all my free cash? I think I can dig up at least $20.00 from change growing lint on the bottom of some old bags!!
D. W. Skinner
Aug. 23rd, 2012 at 5:41 pm
Romney… a stinker of a sinker… let the leaks take that old barge down!
Churchlady
Aug. 23rd, 2012 at 6:52 pm
It’s useless to think Romney and his ilk even care what we think, but it matters that his peers – financial capitalists themselves – understand the political economy of sound investing. Romney and Ryan et al. are fine with raiding companies at the expense of jobs and people and communities so long as the riches line the financiers’ pockets. This investment company, Prospect Harbors, clearly understands the difference between long term stable outcomes and “damn the torpedoes” short term grifting. We need more investors such as Warren Buffet, Prospect Harbors etc. who INVEST and do not RAID.
I have become wedded to the bumper sticker:
When the power of love overcomes the love of power, we will know peace.
The same holds in all worlds – when investing takes up its real meaning of having all parts of your firm and thus your society benefit from and along with your private choices – then we will know prosperity.
omomma
Aug. 23rd, 2012 at 7:17 pm
Sadly, there’s probably nothing illegal in Romney’s money management moves. There should be, there isn’t. He is the worst possible citizen, one who earns money from the money others earned doing actual work. Financial wizards produce nothing, write nothing, make nothing, invent nothing, discover nothing, and generally take from, but never return anything of value to, their fellow citizens.
Rocky in texas said...
Aug. 23rd, 2012 at 7:50 pm
Small minded people need to know!
dusty muckraker
Aug. 23rd, 2012 at 10:34 pm
you all see this? tell this aint some f’d up stuff…
youtu.be/-1fbZ_FeC-E
Inez
Aug. 24th, 2012 at 10:17 pm
Talk about ignoring the handwriting on the wall. Is there some loss of sensibility?
sherriww
Aug. 24th, 2012 at 11:55 pm
Romney is a “know nothing”,born rich,pompus,arrogant(as is his wife),completely non caring guy,and Paul Ryan is a born rich,REALLY Arrogant,and MEAN,plus”nutso”,and is ALSO “A know nothing”,same as Romney,only diff being that Ryan actually BELIEVES HE IS INTELLIGENT! NOT! And,NEITHER OF THESE GUYS COULD PROTECT US FOR ONE MINUTE,IF THAT”3AM phone call” ever came.ANYBODY who votes for this pair has to be TOTALLY INSANE!