Thursday, November 1, 2012

Bush visits Cayman Islands where Mitt’s Money is stashed, Organizers forbidden from disclosing details

Article Mirror

November 1, 2012

Sssh! If we ignore it, it never happened. Apparently. Organizers of an investment conference in the Cayman Islands, which is taking place just days before the upcoming Presidential election say they have been forbidden from disclosing any details about a speech by former President George W. Bush in the offshore financial haven. The Cayman Islands has been getting a lot of attention lately, since it’s come to light that Republican Presidential candidate Mitt Romney has an unknown amount of funds stashed in the tax haven.

The AP reports: A spokesman for the Cayman Alternative Investment Summit says the speech is totally closed to all journalists. Spokesman Dan Kneipp says he is not even permitted to discuss the subject of Bush’s speech scheduled for Thursday evening at the Ritz-Carlton on Grand Cayman island.

He says the restrictions were imposed by the former president’s staff.

Sponsors of the two-day summit include KPMG, a company that provides tax advisory services, and Deutsche Bank. It costs $4,000 to attend and other speakers include billionaire Richard Branson.

The least transparent candidate to date has funds stashed in the Cayman Islands, a place avoiding media attention during a former President’s speech. Interesting.

Meanwhile, the Congressional Research Study’s author stands by his claim that tax cuts for the wealthy do not benefit the economy. However, quietly and quickly the report was pulled on the six-week old report, despite the wishes of the research arm’s economic team, the New York Times reported Thursday.

“I wasn't involved in the decision, as a matter of fact I was on vacation when the decision was made, so I can’t really add anything to what was reported in the NY Times,” Thomas Hungerford, the author of the study, told TPM in an email Thursday afternoon. “However, I certainly stand behind my work.”

Image: Salon