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Published on Sep 27, 2007
Mitt Romney, in 1994, said 'The blind trust is an age-old ruse. You give a blind trust rules. You can say to a blind trust, don't invest in properties which would be in conflict of interest or where the seller might think they're going to get an advantage from me.' " [Boston Globe, 10/19/1994] and "'It's a conflict of interest pure and simple - and it's wrong for a U.S. senator,' said Romney. 'The fact that it's a blind trust does not hide it.' [Boston Herald. 10/19/1994] and "'A United States senator has an obligation to tell its blind trust what it cannot and can invest in,' Romney said." [The Associated Press, October 18, 1994].
But, when confronted in August of 2007 about his investments in embryonic stem cell research and his significant stake in Iranian oil and gas interests, he said, "I did not direct any of my investments nor did I know of those investments," [Washington Post, 8/15/2007] and "The trustee of the blind trust has said publicly that he will endeavor to make my investments conform to my positions and I have confidence that he will do that well," [The Associated Press, 8/15/2007].
Romney calls frequently on state pensions to divest from Iran. His personal financial disclosure, however, reveals that he has up to $250,000 invested in Gazprom and $100,000 invested in Sinopec, both of which conduct multi-billion dollar oils deals with Iran.