Some offshore accounts are more equal than others

Mitt Romney was a robber baron capitalist pig for having one. But Obama sees no problem with his nominee for Treasury Secretary, Jack Lew, sheltering his money in the Cayman Islands.CNN: Multiple reports say an investment listed on 2009 financial disclosure paperwork when Lew was nominated to serve as a deputy secretary in the State Department is a fund based in the Cayman Islands. The fund is CVCI Growth Partnership, described on the form as an employee investment fund. Prior to his State Department stint, Lew was employed at Citigroup as the chief operating officer of a business unit. Sen. Chuck Grassley, a Republican from Iowa and member of the Senate Finance Committee, blasted Lew over the investment. "President Obama has been almost obsessively critical of offshore investments. He called Ugland House 'either the biggest building or the biggest tax scam on record,'" Grassley wrote in a statement late Friday. Ugland House is a building in the Cayman Islands which is the...(Read Full Post)

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