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White House on Top Aids With Offshore Accounts


Location: Washington, DC

Sen. Chuck Grassley of Iowa today made the following comment on the disclosure that the White House did not raise any concerns or ask questions of a top aide -- now the President's nominee for United States Trade Representative -- about his offshore investments upon joining the White House staff, despite the President's condemnations of offshore investments and tax havens. Grassley received answers to his questions from U.S. trade representative nominee Michael Froman for the Finance Committee hearing record. The President has named three Cabinet-level nominees in recent months with offshore accounts.

"Despite the President's condemnations of offshore tax havens and his characterization of the Ugland House as "the largest tax scam in the world,' his administration didn't ask a top aide about his investments in the Cayman Islands and the Ugland House. If this were a priority, the White House would have asked a top adviser about these investments. This is an example of the President's having one set of standards for his political opponents and another for his friends and supporters."

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