Mitt Rmoney and his $100 million IRA
Pathteacher: Mitt Rmoney and his $100+ million IRA account.
Mitt’s tax-free IRA was funded by deposits of carried interest that included shares and earnings from Bain Capital funds that were under his direct control. Mitt was personally benefiting from profitable investment choices he made with access to information that was outside the public realm, but available to him as the private equity fund manager at Bain. Whatever this practice is called, it is indistinguishable from insider trading. The reason that this whole scheme is not illegal is that Mitt has been blazing a new trail with these financial shenanigans and the law and the courts just haven’t caught up to him and those following his lead.