Bloomberg Testy When Asked About Off-Shore Accounts

Bloomberg—and his signature on the 2008 tax return for the Bloomberg Family Foundation

Surprise, surprise—Mayor Bloomberg wasn't really thrilled about questions regarding the $290 million his charity, the Bloomberg Family Foundation, has in off-shore accounts, as reported by the Observer. According to the Daily Politics, Bloomberg said he didn't know where the money was invested, which is "consistent with his agreement with the Conflicts of Interest Board" (he can give advice about his investments, but not know where they are invested). But as the AP's Sara Kugler pointed out, Bloomberg personally signed the 105-page tax return in 2008 that showed the foundation's investments in Mauritius, Cyprus, Japan, Brazil, Luxembourg, the Cayman Islands and Bermuda.

Bloomberg: "I don't have anything to say about my investments, miss."
Kugler: "You signed those tax forms, so you had to have known --"

Bloomberg: "I did not sign those tax forms."

Kugler: "It has your signature on it."

Bloomberg: "If there are tax forms that I signed, I signed. But I don't have any control over where my investments go. And incidentally, as far as I know, the investments that my money managers make are perfectly legal. They're fully disclosed. And they're appropriate to maximize the assets which I'm giving away to charities."

Here's how Kugler filed the story: "When told he signed the tax forms that list the offshore investments, he insisted he had not done so. He then defended the practice as legal and practical as a way to make the most money for his charitable foundation." (See the tax return here.)

Then when Azi "The Disgrace" Paybarah of the Observer asked whether his investments in the Caymans made it easier or harder to advocate for financial regulations, Bloomberg started with, "I think last time I checked, people in the Cayman Islands are very nice people. They have a lot of people from the Cayman Islands that live here. If you have any problems with people from the Cayman Islands, I think you might want to address it to them." He also said, "But you seize a good example. Every diverse investment pool invests around the world. We live in a global world. The companies that we invest in do business around the world globally."

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By Jen Chung in News on April 22, 2010 6:06 PM

Comments [rss]

JacqueMehoff

bloombag = giant hypocrite douche.

again, what does the people of the cayman islands have to do with the question asked? he's talking out of his ass.

he couldn't care less about the people there. he complained when some people in the Bronx wanted a 10 dollar an hour wage and benefits.

dkim2015

What's wrong with holding money in those countries? There is nothing illegal about what he is doing.

90% of you idiots out there don't even the basic principles of finance or investing so don't try to rationalize your emotions.

dkim2015

*know

ribaldry

BLOOMBERG'S GONADS FELL OUT

MrManhattan

I'm not seeing the problem here. Bloomberg (who works for the city for a dollar a year), has a charitable foundation (money he's giving away which presumably doesn't come from his exorbitant salary), which has some fully disclosed, legal investments (otherwise they wouldn't be on his tax returns).

There's lot's of valid criticisms you can have with him, (I know I do), but this seems to be a non-issue.

Oh, and for the record, I've been to the Cayman Islands, and they are very nice people.

Stevennnn

The dollar a day is to show good will. The man is a billionaire. He only cares about the elitists and the rich (his friends and pals). Just have to look at the comments he has made over the years.

MrManhattan

The original article wasn't about what Bloomberg cares about or his comments. Those might be valid issues, but they have nothing to do with charitable foundations or offshore investments.

FelixtheCat & Christine Quinn'

If you have a problem with cayman people then take it up with them. Lol. That is pure gold. This buffoon sounds like a spoiled bitch when he is caught lying.

Jim

Oooh, ok! It all makes sense now.

Sha

Ditto, Jim. Ignorance is bliss, apparently...

horseplay

I wasnt counting the puppets, just the few fucking morons that voted from their pittyful little hearts. I bet atleast 50% of the morons who voted for him will, if not already, eventually regret it. But that wont be until they have figured out why they were forced to move out of nyc. But hey, NY'ers have proven to be the least savvy of all big cities

Jim

Oooh, ok! It all makes sense now.

Jim

Umm, that would be the majority of New York City voters.

JacqueMehoff

WTF is he talking about?

And, why would we have any problems with the people of the Cayman Islands? I mean, they have a catchy tourism commercial jingle.