Originally Posted By skinnerbox <a href="http://americablog.com/2012/10/mitt-tagg-romney-tied-to-ponzi-scheme.html" target="_blank">http://americablog.com/2012/10...eme.html</a> <> Mitt & Tagg Romney tied to Ponzi scheme 10/18/2012 1:56pm by Chris in Paris Despite previous assertions to the contrary, SEC documents link Mitt Romney and his son Tagg Romney to a firm involved in the Allen Stanford $7 billion Ponzi scheme. Tagg, who recently threatened to “take a swing” at the President, has previously denied the links but legal filings say otherwise. Surely the Romney’s strict religious faith, that Mitt talks about so much now, doesn’t approve of lying, does it? Or is this what they mean when people talk about “lying for the Lord?” Lee Fang at the Nation has more on the actual facts, rather than the Romney-family version of the story. The story is from six days, and still is obviously quite relevant. "The private equity firm run by Tagg Romney—Mitt’s eldest son, who is now taking a leadership role in guiding his father’s presidential campaign—misled reporters last year about its involvement with a company run by men accused of taking part in a multibillion-dollar Ponzi scheme. However, Solamere Capital’s statement, provided to ABC News, is false. Disclosures from the Securities and Exchange Commission show that Tagg’s company indeed maintains ties with the Ponzi-linked firm, Solamere Advisors. The claim that Solamere Group didn’t invest directly in Solamere Advisors, the firm employing former Stanford employees, appears to have been an attempt to shield Mitt Romney. Mitt invested about $10 million into Tagg’s Solamere Capital venture, which would suggest Mitt has a direct financial relationship with folks involved in a Ponzi scheme. That’s because Solamere Capital pools together investment money to co-invest in other companies." It’s also interesting to note that this revelation is only available because of the new reporting requirements for Dodd-Frank. No wonder Romney doesn’t like that legislation. All of this, of course, brings us back to the critical problem of Mitt Romney’s missing tax documents. Until Mitt Romney produces his full returns for the past ten years, rather than the scrubbed version of the last two years, that is missing a lot of details, we simply do not know the full extent of what he’s involved in or where. And whether it’s even criminal. For someone that is proposing to make such radical changes to the tax code – Romney has proposed a $5 trillion tax cut for the rich that even Fox News says doesn’t add up – we should know if he’s doing this to benefit the country, or just himself and his rich friends. <> <a href="http://www.thenation.com/blog/170546/tagg-romneys-company-misled-reporters-about-its-relationship-ponzi-scheme-linked-firm" target="_blank">http://www.thenation.com/blog/...ked-firm</a># <> Tagg Romney's Company Misled Reporters About Its Relationship With Ponzi Scheme–Linked Firm Lee Fang on October 12, 2012 - 8:10 PM ET The private equity firm run by Tagg Romney—Mitt’s eldest son, who is now taking a leadership role in guiding his father’s presidential campaign—misled reporters last year about its involvement with a company run by men accused of taking part in a multibillion-dollar Ponzi scheme. Last year, I reported that Tagg had formed a business partnership with several North Carolina investors who are still facing a lawsuit for receiving bonus pay for selling CDs as part of the $8 billion Stanford Financial Group Ponzi scheme. In a nutshell, Tagg helped these investors form a company—called Solamere Advisors, a nod to Tagg’s firm Solamere Capital—shortly after their boss, Allen Stanford, was caught by law enforcement for his elaborate Ponzi fraud. When I interviewed him in Las Vegas, Tagg told me that his associates were “cleared” of any wrongdoing associated with the Stanford Ponzi scheme. Court documents directly contradict Tagg and show that the lawsuit has not been dismissed. The New York Times followed up on my story with its own report and confirmed that Tagg’s business partners received incentive pay for selling bunk Stanford CDs. They wrote about one Stanford victim, a local Charlotte businessman and philanthropist named Herman Stone. Stone was pressured by Brandon Phillips, an executive working now for Tagg’s firm, into putting $2 million into a fraudulent Stanford CD and lost everything. Solamere Capital attempted to distance itself from the story by claiming that their business was not actually connected to the Ponzi-tainted firm, Solamere Advisors. In a statement to ABC News, they claimed that their managers, not Solamere Capital itself, were involved: “It is inaccurate to suggest that Solamere Capital made an investment in this firm [Solamere Advisors]. Solamere Capital was approached to invest in a new wealth management firm being launched by these three individuals. After extensive due diligence, Solamere Capital decided not to invest because the business was at an early stage and did not meet our investment criteria. However, Spencer Zwick, Tagg Romney and Eric Scheuermann each own a minority stake in the business as individual investors.” However, Solamere Capital’s statement, provided to ABC News, is false. Disclosures from the Securities and Exchange Commission show that Tagg’s company indeed maintains ties with the Ponzi-linked firm, Solamere Advisors. The claim that Solamere Group didn’t invest directly in Solamere Advisors, the firm employing former Stanford employees, appears to have been an attempt to shield Mitt Romney. Mitt invested about $10 million into Tagg’s Solamere Capital venture, which would suggest Mitt has a direct financial relationship with folks involved in a Ponzi scheme. That’s because Solamere Capital pools together investment money to co-invest in other companies. According to this form and this form filed with the SEC, Solamere Group owns a large stake in Solamere Advisors (referred to in the documents as “CAMG Solamere.”) So it is impossible to argue that Solamere Capital—the Romney family’s investment company—does not have direct financial ties with Solamere Advisors, the firm filled with executives who sold CDs as part of the Stanford fraud. The Stanford scandal is second only to the case of Bernie Madoff. The disclosures are made on part of the SEC website enhanced by the new Dodd-Frank law, the Wall Street reform Romney says he wants to repeal. <> Yet another possible explanation for why Romney refuses to release more tax returns. Nothing associated with this man appears to be honest or genuine. He's such a fraud. Ditto for his son.
Originally Posted By fkurucz >>Tagg, who recently threatened to “take a swing” at the President, has previously denied the links but legal filings say otherwise. << What is it about Romneys being habitual liars? Is it genetic or something?
Originally Posted By TomSawyer "What is it about Romneys being habitual liars? Is it genetic or something?" It's cultural
Originally Posted By EighthDwarf Cultural? I assume you mean the "rich and powerful" culture, not the Republican culture. Just look at Joe Biden's ties to the Stanford Ponzi scheme? His son, Hunter, and brother, James, owned a fund marketed by Stanford. It's now being unwound. And did you see James Biden's company was recently awarded a $1.5 Billion contract by the federal government? To build homes in Iraq? James is going to make a lot of money on that deal. What a coincidenc, huh? I hate to break it you, but both sides are very corrupt. It's amazing how people don't want to see it on their own side but foam at the mouth when it is happening on the other.
Originally Posted By skinnerbox <<I hate to break it you, but both sides are very corrupt. It's amazing how people don't want to see it on their own side but foam at the mouth when it is happening on the other.>> How about some evidence of the other side being "very corrupt." At least I cited a source. I could have cited more. Please cite sources for your claims.
Originally Posted By skinnerbox It's official! Josh condones Sununu's statement that Colin Powell is only endorsing Obama because he's black. Of course, Sununu isn't backing Romney only because they're both white, right? And Josh would *never* back Romney only because they're both Mormon, right? But TS and I obviously have major bigotry towards Mormons, simply because we don't particularly care for the way Mitt and his progeny do business. Oy vey!
Originally Posted By SingleParkPassholder "Your bigotry toward Mormons is obvious, ToomSawyer and skinnerbox" And proud of it. To say nothing of Mormons' views on women, gays and blacks over time. Sheesh.
Originally Posted By 182 Black people have been members of Mormon congregations since its foundation. Women Are treated extremely well. Gays are always welcome to church services.
Originally Posted By skinnerbox <<Black people have been members of Mormon congregations since its foundation.>> But black men couldn't become priests until 1978. <<Women Are treated extremely well.>> Women are still banned from the priesthood and considered subservient to men. <<Gays are always welcome to church services.>> But they aren't allowed to do anything else. Just like the women. Go peddle your 19th century bigotry and sexism someplace else.
Originally Posted By 182 But black men couldn't become priests until 1978. We were one of the very few Churches to allow them to be members since the foundation,I will say that "Women are still banned from the priesthood and considered subservient to men." "Go peddle your 19th century bigotry and sexism someplace else." Women server in many high leadership roles both national and local. many roles Men are not allowed to serve in. "But they aren't allowed to do anything else. Just like the women." No women can have callings,talk in church,serve Missions and lead church services. On a personal level I have many Gay friends and know many loving Gay releationships but Gods law says it's a sin. "Go peddle your 19th century bigotry and sexism someplace else." Because I think you probbly have some serious mental health issues I really don't take your hatred seriously
Originally Posted By dshyates "On a personal level I have many Gay friends and know many loving Gay releationships but Gods law says it's a sin." And many Christians (not Mormon's) are calling for Gays to be put to death. You can take the hateful "God's Law" and shove it where the sun don't shine.
Originally Posted By dshyates Being a gay fellow, Christian's calling for the extermination of Gays based on God's Law raises a red flag. I will fight to the death to defend my right to exist. I find it amazing that so many who have bathed in God's love have so many that they would LOVE to hang in the public square. Why? "cause God is Love! Yeah, you can keep your loving God.
Originally Posted By TMI There's a meme making its way around the internet, something like "funny how rape is "god's will" and yet homosexuality is a choice". Great food for thought, for those brave enough to think about it.
Originally Posted By SingleParkPassholder "Come and try coward." It's official!!! Donny is really Tagg Romney!!!
Originally Posted By SingleParkPassholder "Because I think you probbly have some serious mental health issues I really don't take your hatred seriously" Interestingly, Donny.............
