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Republican Presidential Candidate Mitt Romney Plans to Place Assets in a Blind Federal Trust if Elected

10:40 AM, Jun 7, 2012   |    comments
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WASHINGTON (AP) - Republican presidential candidate Mitt Romney would, if elected president, place his sizable fortune in a blind trust.

He would not know where his money is invested and could not order the purchase or sale of certain holdings.

A Romney campaign official confirmed the plan on Wednesday. It would serve to insulate Romney politically from criticism about his wealth and possible ethics conflicts.

Romney's assets are worth an estimated $250 million.

Although Romney has previously described his portfolio as a blind trust over which he has had no control since 2003, he knows what investments he holds. His trustee has said he buys and sells investments that he believes would be consistent with Romney's public policy positions.

The federally qualified blind trust would have stricter standards.

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