In a just world, the 2012 election would be about putting rampant, marauding capitalism on trial. We'd be comparing Obama's bootstrapping his way into being a millionaire through hard work, dedication, and an inspiring memoir (which is where his money came from) with Romney's inheritance, his days at Bain Capitol finding companies to pillage and burn to the ground, and the vast fortune he has hidden away in tax dodges, secret accounts, and shady foreign banks.
But our media being who they are, they'll just shrug like a character on The Wire and say, "It's all in the game, yo," and start focusing on haircuts or shoes or the way the men hole their hands while speaking.
Anything to avoid addressing someone's record or policies or doing any real reporting. Focusing on the utterly trivial is so much easier.
Investigation: Mitt Romney’s Offshore Accounts, Tax Loopholes, and Mysterious I.R.A. | Politics | Vanity Fair
To give but one example, there is a Bermuda-based entity called Sankaty High Yield Asset Investors Ltd., which has been described in securities filings as “a Bermuda corporation wholly owned by W. Mitt Romney.” It could be that Sankaty is an old vehicle with little importance, but Romney appears to have treated it rather carefully. He set it up in 1997, then transferred it to his wife’s newly created blind trust on January 1, 2003, the day before he was inaugurated as Massachusetts’s governor. The director and president of this entity is R. Bradford Malt, the trustee of the blind trust and Romney’s personal lawyer. Romney failed to list this entity on several financial disclosures, even though such a closely held entity would not qualify as an “excepted investment fund” that would not need to be on his disclosure forms. He finally included it on his 2010 tax return. Even after examining that return, we have no idea what is in this company, but it could be valuable, meaning that it is possible Romney’s wealth is even greater than previous estimates. While the Romneys’ spokespeople insist that the couple has paid all the taxes required by law, investments in tax havens such as Bermuda raise many questions, because they are in “jurisdictions where there is virtually no tax and virtually no compliance,” as one Miami-based offshore lawyer put it.