Democrats' double standard on overseas investments

This is a rush transcript from "Hannity," July 11, 2012. This copy may not be in its final form and may be updated.


GRAPHIC: Why would Mitt Romney invest millions in the Cayman Islands?

SENATOR CHUCK GRASSLEY, R-IOWA: The only real difference that I hear between investing in the Cayman Island and investing in the United States or the only way that the Cayman Island investments are superior is the possibility of avoiding U.S. tax. I don't think that that is something the American public would agree with or appreciate.

MIKE HUCKABEE, FORMER PRESIDENTIAL CANDIDATE: I'm the guy who doesn't have some offshore bank account in the Caymans, hiding my money.

GRAPHIC: There's one way to clear up the questions.

KELLY EVANS, WALL STREET JOURNAL: Governor, will you release your income tax records?



SEAN HANNITY, HOST: Now that is President Obama's so-called truth team, continuing to mislead you, the voters, about Governor Romney's finances. But as those attacks rage on some glaring hypocrisy on the side of Democrats is now coming to light.

ABC News has uncovered that White House Senior Adviser Valerie Jarrett has up to a quarter million dollar line of credit in, where else, Bermuda? She's not the only one.

According to the Weekly Standard, DNC Chairwoman Debbie Wasserman Schultz also has a history of overseas investments.

And joining me to help expose some of this rampant hypocrisy on the left, Fox News contributor, author of the New York Times bestseller, "Culture of Corruption," Michelle Malkin.

Michelle, welcome back.

MICHELLE MALKIN, "CULTURE OF CORRUPTION": Thanks for having me back, Sean. It's good to be back.

HANNITY: All right, this has been their take now. Let's see, we have Valerie Jarrett. We got her in Bermuda. Now we got Debbie Wasserman Schultz investing in Swiss bank accounts, foreign drug companies and the Bank of India, according to the Weekly Standard.

And then we find out, let's see, Daily Caller, and they point out that Nancy Pelosi has investments in an LLC company, $1 to $5 million. Their singular focus -- investing in Asia. And they're lecturing Romney?

MALKIN: Yes, that's right and doing that evil thing that they've been attacking Romney for -- outsourcing. I have some free advice for these Democrat operatives. That is they shouldn't cast these class warfare stones if they themselves have housed their own money overseas.

You would have thought that they would have done this due diligence. I think it's a credit to some of these mainstream organizations, but more credit to the conservative media outlets that are looking at the disclosure forms, digging all these up and pointing a mirror and tossing this fake narrative right back in their laps. And of course, it's blowing up in their faces.

HANNITY: All right, let's go to the issue of outsourcing, which have been their latest attack on Governor Romney. Two things have come to light. Number one, the outsourcing that they're talking about at Bain Capital in fact, did not happen while Mitt Romney was working there.

That's point number one, and point number two, if there is any outsourcing it came from the Obama stimulus. The RNC points this out in an ad.


GRAPHIC: Obama promised the stimulus would create jobs.

PRESIDENT BARACK OBAMA, JAN. 28, 2009: Most of the money we are investing in this plan to get out the door immediately and go directly to job creation.

GRAPHIC: Jobs were created overseas.

UNIDENTIFIED MALE: The U.S. money has helped to create some 500 auto assembly factory jobs, but they are not in the United States.

UNIDENTIFIED MALE: Nearly $2 billion stimulus dollars have been spent to build these things, most of them have been built overseas.

UNIDENTIFIED FEMALE: More than 250 foreign workers were hired using federal stimulus money.

OBAMA, OCT. 27, 2008: Jobs that pay well, jobs that can't be outsourced.

UNIDENTIFIED FEMALE: How could it be? A lot of them going overseas even about to go to China!

UNIDENTIFIED MALE: A Chinese company called A-Power expects to get $450 million stimulus dollars.

UNIDENTIFIED MALE: This is American taxpayer dollars and they should be American jobs that are created.

GRAPHIC: Barack Obama, outsourcer-in-chief.


HANNITY: Now we have Finland, the auto investment, we have Denmark, we've got China. We have Mexico and of course, we are going to be Brazil's best customer because we're investing in their oil exploration, but not ours.

MALKIN: That's right. I thought it was a very effective ad. It's the kind of aggressive push-back that the GOP and Romney need to be doing because what the White House and the Democrats, Debbie Wasserman Schultz and Nancy Pelosi and all of these overseas investing Plutarchs are doing are engaging in squirrel politics.

OK, the lap dogs are there to be told -- squirrel, squirrel! Politics of distraction and to distract from so much of the shady investing and shady cronies that Barack Obama himself has rubbed elbows with.

You want to talk about Swiss bank accounts? How about Robert Wolf or Charles Adams? Robert Wolf, of course, a golfing buddy, a big bundler who has raised more than a half million dollars for Barack Obama, in charge of what -- Swiss bank accounts.

And let's remember that the crony back-scratching that goes on includes things like, I don't know, the Obama IRS dropping its investigation of UBS tax havens overseas. Let's talk about that.

HANNITY: You know, it's interesting because the latest attack also has been on the issue of transparency. This administration has not been transparent.

I may be one of a few people who would really like to see the president's college records. I think they may be interesting. I think there is something they are hiding here, release his thesis, his grades, his records. What's the big deal? He said he would be transparent and we then, of course, we have executive privilege invoked over the Fast and Furious.

Let's go back and take a look at President Obama pledging that transparency would be a touchstone of his presidency. Watch this.


OBAMA, JAN. 21, 2009: The way to make government responsible is to hold it accountable. The way to make government accountable is to make it transparent so the American people can know exactly what decisions are being made, how they are being made and whether their interests are being well served. Let me say it as simply as I can -- transparency and the rule of law will be the touchstones of this presidency.


HANNITY: Really? Tell that to Agent Brian Terry's parents, who have been on this program.

MALKIN: Exactly. Sunlight is always the best disinfectant and the stonewall that this administration and particularly the Justice Department and Eric Holder have built stone by stone is going to come crumbling down in November. Largely thanks to those of who have pushed from the beginning of the administration and even beforehand, knowing that this has been a culture of corruption and darkness and a culture of feted, willful disregard for the rule of it law and deliberative process.

HANNITY: All right, Michelle, always good to see you. Thanks for being with us.

MALKIN: You bet.

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