The Romneys—Too Rich for the White House


Mitt Romney

Richie Rich Romney

If this does not prove that a man can be TOO rich to be president then I don’t know what does. Oh, you might say hold on Heloise because Jack was rich. Well, not exactly.  His father Joe P. Kennedy was rich and made the money and the monetary decisions and whatever dirty politics and Wall Street deals that brought him great wealth. It was NOT Jack who was the financial wizard, however he did profit from it.  But this is not what’s going on her folks. The Romneys are billionaires and Mitt and his son Tagg are in the thick of this really hot political potato. 

http://thinkprogress.org/economy/2011/11/01/316040/romney-solamere-ponzi/

The Romney Business Connection

 Solamere Capital, the investment company founded by Tagg Romney with seed money from his father, Mitt Romney and other investors.

Launched in 2008 by Romney’s son Tagg and a few others, including Mitt Romney’s chief fundraiser Spencer Zwick, Solamere Capital is a “fund of funds,” meaning that it primarily invests in other investment companies, like private equity groups.

 Mitt Romney himself made a $10 million initial seed investment in Solamere Capital and his personal financial disclosure forms reveal that he has received between $100,000 and $1 million in returns from his stake in Solamere. Romney has come under fire for refusing to release his tax returns, which would likely reveal additional details about his financial relationship with Solamere Capital.

After news of the Ponzi scheme precipitated the collapse of Stanford in 2009, Tagg partnered with several of Stanford’s North Carolina executives to start a firm called Solamere Advisors. At least three prominent brokers who had worked for Stanford — Tim Bambauer, Deems May, and Brandon Phillipsjoined Tagg to help run Solamere Advisors, a wealth management business located in Charlotte, North Carolina. “We are excited to be associated with such a highly capable group of financial advisors with a proven track record of meeting the needs of their clients throughout the Southeast,” said Tagg in a press release announcing Solamere Advisors, which borrows its the name from its parent company, Solamere Capital.

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About heloise8

Meaning of "trough" -- Trough is the bottom of a transverse wave. And generically means a low point or a place to fill. Venus is related to this meaning. Veins are to be filled, and venusian people are loving. The left is more venusian than the right, hence The Trough--where Heloise helps the great and the small. Heloise the politico from Blogcritics.org. Physics preacher, blogger, gardener, beach lover, book lover, writer, author.

Posted on November 1, 2011, in Government Trough, Pig Trough and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

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