January 25, 2012 7:32 PM
Romney, Ropes, and Bain and the Ties That Bind
Posted by Victor Li
Tuesday was a very busy day for Ropes Gray chair R. Bradford Malt.
No surprise there. After all, Malt makes the investment decisions for the blind trusts created by Republican presidential hopeful Mitt Romney for himself, his wife, and the Romney family. Malt also oversees the Romneys’ philanthropic arm, the Tyler Charitable Foundation, and does all the family’s tax planning. And for those associated with Mitt Romney, Tuesday was all about taxes.
So when Romney—reeling from a shellacking at the hands of Newt Gringrich in the South Carolina GOP primary and under growing pressure to release his tax returns—dropped more than 500 pages detailing his income, tax payments, and charitable giving over the past two years, the embattled candidate’s campaign put Malt front and center to guide reporters through the often arcane material.
It was Malt who explained, for instance, that Romney was not evading his U.S. tax obligations by investing in funds based in well-known tax havens like the Cayman Islands. Malt noted that the investments in question aren’t held in “offshore accounts” but
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