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5/1/12

Who are better liars - the financial community or politcians ?

It's a pretty close call, but that they both twist the truth is for certain.

During his presidential campaign in 2007, Republican candidate Mitt Romney promised that a trust overseeing his financial portfolio would shed any investments that conflicted with GOP positions toward Iran, China, stem cell research and other issues.

But Romney's family trusts kept some of those stocks and repeatedly bought new investments in similar holdings as recently as 2010, when they were sold in advance of his latest White House campaign, a detailed review of Romney's financial records by The Associated Press shows.

Recently disclosed 2010 tax returns for three family trust funds for Romney, his wife, Ann, and their adult children show scores of trades in such investments, worth more than $3 million when the holdings were all sold in 2010.

Where does the financial market come into this picture? Hedge fund moguls and other high-flying capitalists now dominate the top of a recently unveiled list of donors to a group supporting Mitt Romney’s bid for the presidency, a reflection of his years as head of Bain Capital as well as his so-called "pro-business" approach to improving the US economy.

But in all fairness "Wall Street big money" is not only going to the right of the aisle. They place their bets on both sides. In financial terms it's called hedging. They don't intend to lose. That you can be sure about.

So when politicians or businessmen turned politicians tell you they want to improve the economy what do they mean by that, Hedge Fund managers? Corporations?  Liars and tax cheats?

It's time to review your politicians performance record against your needs and requirements instead of buying into the stories they give you who to blame for your problems.

If they have failed your expectations - get rid of them. If that does not work, join a protest movement, or whatever, but please don't stay on the couch ....

EU-Digest

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