Romney gets tough on China.....Really?

Discussion in 'Politics' started by RCG Trader, Sep 25, 2012.


    LOS ANGELES (MarketWatch) -- U.S. President Barack Obama's campaign criticized opponent Mitt Romney on Monday for an investment in Chinese energy major Cnooc Ltd. (HK:883)(US:CEO), saying the investing position contrasted with the Republican ex-governor's stance on China. The Cnooc investment, made by Romney's blind trust and since unwound, was revealed when Romney made public his 2011 tax return late last week, the Financial Times and website BuzzFeed reported separately. "It wasn't until Romney decided that he was going to start talking tough on China ... that he dumped the shares," the Obama campaign said. The remarks came as Romney spokeswoman Andrea Saul was quoted by Reuters on Monday as saying Obama should label China as a currency manipulator, an action Romney has promised to do immediately if he wins the presidency. Romney's campaign has previously accused the White House of being soft on China.

    Mitt Romney’s trust invested in Cnooc at a time when the US was growing concerned about the Chinese oil company’s multibillion-dollar dealings with Tehran, according to the 2011 tax return released by the Republican nominee for president.
    The Chinese investment by Mr Romney’s blind trust prompted accusations of hypocrisy from the Obama campaign on Monday, given Mr Romney’s criticism of Barack Obama for not being tough enough on Chinese “cheaters”.

    Mr Romney has in the past – specifically in his Senate run against Edward Kennedy – called blind trusts “an age-old ruse” because “you can always tell a blind trust what it can and cannot do”.
    The first investment by Mr Romney’s trust in Cnooc Limited, in October of 2009, was made about seven months after the group’s state-owned parent company was widely reported to have signed a deal with Iran to develop the huge North Pars gasfield for an LNG export project.
    In the US, the deal was viewed as part of a worrying effort by China to secure energy interests.
    According to a report by the International Gas Report in February of 2009, Beijing gave Cnooc the green light to sign a deal with Tehran immediately after the US agreed to sell arms to Taiwan. The agreement, which was on and off for years before the deal was signed, even prompted interest from the US State Department in 2007, which examined whether it violated the Iran-Libya Sanctions Act.
    Washington’s unease with Cnooc was also apparent in the political uproar in 2009 over the Obama administration’s decision to appoint Chas Freeman as the head of the National Intelligence Council. The choice of Mr Freeman, a former ambassador to Saudi Arabia and envoy to China, was eventually nixed. But one of several issues raised by both Democratic and Republican lawmakers on Capitol Hill was Mr Freeman’s links to Cnooc, after he joined the board of international advisers in 2004.
    Tax records released last week showed that Mr Romney’s blind trust made two subsequent investments in Cnooc and then sold all the shares – for a profit of about $11,000, in August of 2011.
  3. Dude, I haven't been around for awhile, didn't realize the guy with the ex-girlfriend that posts all the great pics WAS A FUCKING COMMUNIST!!!

    Those that are voting for Romney, are not doing it because we like Mitt Romney, he too is a douche but at least he is American as apple pie and has a heritage here. We are doing it because Obama is the FUCKING ANTICHRIST!! Forget your party line ideology and bullshit, if this asshole get's in again WE ALL LOSE. Obama is such a communist, he makes Marx look conservative.

  4. A conservative, with a McCarthy playbook no less. No, Mr. Roach, the Russian are not coming to get us. Please put down Glenn Beck, Rush, Hannity, and Matt Drudge, and slowly back away.:D
  5. I also missed the Anti Christ part. Mr. Roach......Really?:D :D :D
  6. Back away? You should stop 'backing away' while Arianna Huffington fucks you in the ass with her strap-on...

    She leans so left, you'd think her left leg was chopped off at the hip... Talk about biased reporting.
  7. Lucrum


  8. pspr


    That ad Obama is running about Romney and China is a twisted lie. One of many that are airing right now.
  9. Ricter


    "Obama is the FUCKING ANTICHRIST!!"

  10. P Roach is going Scat/Leapup crazy .These guys are really losing their fucking minds
    #10     Sep 25, 2012