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View Full Version : Romney - Snafu or Ponzi Scheme?



David G
05-04-2012, 10:07 AM
Does anyone have more info on this one? I can't tell from the stories whether the Romney family is getting fleeced by the firm they invested in... or whether they are part of the scam.

Ian McColgin
05-04-2012, 10:11 AM
Does anyone know what David is referring to?

wardd
05-04-2012, 10:14 AM
not saying

ccmanuals
05-04-2012, 10:22 AM
Probably this,

http://thinkprogress.org/economy/2011/11/01/316040/romney-solamere-ponzi/?mobile=nc

Ian McColgin
05-04-2012, 10:42 AM
Ah. It will be interesting to see if the stench actually gets on a Romney. Tagg and Mitt may have kept their skirts high enough to tiptoe clear.

Unsavory associates? Yes. Their own dishonorable dealings? Don't know . . . yet.

David G
05-04-2012, 10:46 AM
Probably this,

http://thinkprogress.org/economy/2011/11/01/316040/romney-solamere-ponzi/?mobile=nc

Sorry... forgot to add the link. Yup... that's the story.

ccmanuals
05-04-2012, 11:31 AM
Probably won't get much play on this thread. The usual suspects are all lathered up over Elizabeth Warren.

David G
05-04-2012, 11:45 AM
Probably won't get much play on this thread. The usual suspects are all lathered up over Elizabeth Warren.

Well... it's not at all clear yet (at least to me) what the exact situation is. Maybe when the dust begins to settle... it'll garner more comment.

Shang
05-04-2012, 03:47 PM
Probably won't get much play on this thread. The usual suspects are all lathered up over Elizabeth Warren.

Aw, whut thu heck, let's give it a whirl:

Exclusive: Romney Family Investment Group Partnered With Alleged Perpetrators Of $8 Billion Ponzi Scheme

By Lee Fang on Nov 1, 2011 at 9:30 am

Mitt Romney and his son Tagg Romney. Tagg is the managing partner to Solamere Capital, a firm that invested in a new company employing brokers accused of taking part in the Allen Stanford Ponzi scheme.
Mitt Romney, his son Tagg, and Romney’s chief fundraiser, Spencer Zwick, have extensive financial and political ties to three men who allegedly participated in an $8.5 billion Ponzi scheme. A few months after the Ponzi scheme collapsed, a firm financed by Mitt Romney and run by his son and chief fundraiser partnered with the three men and created a new “wealth management business” as a subsidiary…
http://thinkprogress.org/economy/2011/11/01/316040/romney-solamere-ponzi/?mobile=nc

ccmanuals
05-04-2012, 03:50 PM
But Shang, the important thing is what did Romney list on his college application papers as his ethnic origin?

bobbys
05-04-2012, 03:59 PM
Probably won't get much play on this thread. The usual suspects are all lathered up over Elizabeth Warren..

And having a good time i might addLOL

Ian McColgin
05-04-2012, 04:08 PM
I reread the story. It seems that the Romney's are not too concerned with any associates' alleged past crimes or on-going criminal investigations so long as the deal the Romney money is on is arguably legal. It also appears that Tagg confuses not being in jail yet with having been cleared, but there is not real crime in that particular confusion.