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Since he was elected governor of Massachusetts in 2002, Romney's finances have been handled in a blind trust by longtime personal attorney Brad Malt, who also served as the primary outside lawyer to Romney's former private equity firm, Bain Capital.
That arrangement would not comply with stricter federal standards for independence, said Stephen Potts, former head of the U.S. Office of Government Ethics.
Romney officials have said they would set up a blind trust that meets federal standards if he were elected president.
That means Romney, and the public, wouldn't know details of his holdings, Potts said.
Critics question whether Malt has handled Romney's finances in a truly independent manner, pointing to a $1 million investment in Solamere Capital LLC, a hedge fund run in part by Romney's son Tagg.
According to the Wall Street Journal, Malt sold off holdings in Chinese companies after Mitt Romney began sharply criticizing Chinese trade and currency policies last year.
Under pressure from Republican rivals in January, he released a tax return from 2010 and an estimate for 2011 that show he paid a lower effective tax rate than many...
http://www.reuters.com/article/2012/06/07/us-usa-campaign-romney-wealth-idUSBRE8561JB20120607
That arrangement would not comply with stricter federal standards for independence, said Stephen Potts, former head of the U.S. Office of Government Ethics.
Romney officials have said they would set up a blind trust that meets federal standards if he were elected president.
That means Romney, and the public, wouldn't know details of his holdings, Potts said.
Critics question whether Malt has handled Romney's finances in a truly independent manner, pointing to a $1 million investment in Solamere Capital LLC, a hedge fund run in part by Romney's son Tagg.
According to the Wall Street Journal, Malt sold off holdings in Chinese companies after Mitt Romney began sharply criticizing Chinese trade and currency policies last year.
Under pressure from Republican rivals in January, he released a tax return from 2010 and an estimate for 2011 that show he paid a lower effective tax rate than many...
http://www.reuters.com/article/2012/06/07/us-usa-campaign-romney-wealth-idUSBRE8561JB20120607