Showing posts with label Economy.. Show all posts
Showing posts with label Economy.. Show all posts

Monday, March 18, 2013

Romney’s Million Dollar Campaign Contributor Considers Tax Escape to Puerto Rico

Paulson Johnby Nomad

At the beginning of last year, before the presidential campaign had really gotten underway, Nomadic Politics reported that one of Mitt Romney’s high- dollar contributors to his Restore Our Future SuperPAC was hedge fund billionaire, John Paulson. Now it seems as though, Paulson might be considering leaving the country altogether. Bloomberg last week mentioned Puerto Rico as a possible new home. (His hedge fund, however, issued a denial of the story.)

Paulson belonged to an exclusive club of uber-wealthy Romney backers who, even before the Republican nomination, were willing to write a cool million check for Romney’s bid for the White House. What's a million between friends?
Why, that's chicken feed for a man like Paulson, whose net worth, according to Forbes was almost $16 billion. (The year prior to the SuperPAC contribution he reportedly earned staggering 5 billion.)

But it was all for naught, in the end. Investing in Romney proved to be an expensive proposition with very limited returns. However, the opposite can be said of Paulson's investments during the economic crisis. Wall Street analysts say that Paulson became outrageously successful by betting on failure, from the collapse of banks to the mortgage crisis.