Sunday, April 15, 2012

Ann Romney: Scraping By on Mitt's Stock Windfall

Does anyone really think that Ann Romney knows anything about real life struggles of modern mothers, who have to work and raise children? I just wish these two would stop pretending. That's all. We're not stupid. We might even like the Romneys more if they embraced themselves. Also, in the Mormon religion, women usually take on the traditional role and stay at home with their children, while the husband takes his traditional role as the financial provider. They should embrace that as well.
I especially love the part where they're living on the edge and not entertaining -- as if the two somehow go together.
So when Ann Romney describes living frugally (according to her they're still not out of the woods yet) did you realize that she was scraping by on Mitt's stock windfall? From money given to Mitt by his father? "We were living on the edge, not entertaining. No, I did not work. Mitt thought it was important for me to stay home with the children, and I was delighted," is what she said in 1994—check that again her statement a few days ago, "I made a choice to stay home and raise five boys. Believe me, it was hard work." A choice aided by the fact that her father-in-law invested money he gave to Mitt in American Motors, the company he (George Romney) was leading at the time. And it didn't hurt that her husband graduated from Harvard with an MBA and JD and was quickly hired by consulting firms. More at the Gothamist

An excerpt from Ann Romney's difficult college life of inheriting Mitt's father's stock and trying to live off it:
When the couple was living in a basement apartment ($62/month) at Brigham Young, "We were happy, studying hard. Neither one of us had a job, because Mitt had enough of an investment from stock that we could sell off a little at a time. The stock came from Mitt's father. When he took over American Motors, the stock was worth nothing. But he invested Mitt's birthday money year to year -- it wasn't much, a few thousand, but he put it into American Motors because he believed in himself. Five years later, stock that had been $6 a share was $96 and Mitt cashed it so we could live and pay for education."