Marathon Pundit: DNC chair DWS invested in Swiss banks

Tuesday, July 10, 2012

DNC chair DWS invested in Swiss banks

Rep. Debbie Wasserman Schultz (D-FL), previously held funds with holdings in Swiss banks. The Democrats have been trying to make political hay out of Mitt Romney formerly having a Swiss bank account.

From the Weekly Standard:

Disclosure forms reveal that Democratic National Committee chair Debbie Wasserman Schultz, a member of Congress from Florida, previously held funds with investments in Swiss banks, foreign drug companies, and the state bank of India. This revelation comes mere days after the Democratic chair attacked presumptive Republican presidential candidate Mitt Romney for holding money in Swiss bank accounts in the past.

"Americans need to ask themselves, why does an American businessman need a Swiss bank account and secretive investments like that?" the DNC chair, a chief surrogate for President Obama's reelection team, said on Fox News Sunday two days ago. "Just something, a thought, that I'd like to leave folks with."

It's been a consistent theme of Obama's reelection strategy: Attack Romney for foreign investments he held, especially in Swiss bank accounts, "to try to promote his wealthy, out-of-touch businessman persona."

But disclosure forms reveal that in 2010, Wasserman Schultz invested between $1,001-$15,000 in a 401k retirement fund run by Davis Financial Fund. As the fund discloses, it is invested in the Julius Baer Group Ltd. and the State Bank of India GDR Ltd., as well as other financial, insurance, bank institutions.