Center for American Progress Action

RELEASE: Gringrich Blasts Romney For Profiting Off Florida Foreclosures
Press Release

RELEASE: Gringrich Blasts Romney For Profiting Off Florida Foreclosures

This morning, Newt Gingrich seized on an exclusive report published yesterday by ThinkProgress, which revealed that Mitt Romney is profiting from thousands of Florida foreclosures through a Goldman Sachs investment fund.

Gingrich blasted Romney for “owning lots of stock in a part of Goldman Sachs that was explicitly foreclosing on Floridians.” Watch it:

The ThinkProgress report revealed that Romney and his wife Ann own millions in Goldman Sachs Strategic Income Fund. That fund holds mortgage backed securities from many of the nation’s most prominent subprime lenders, including Countrywide and Washington Mutual. In 2010, the fund was connected to more than 5,000 foreclosure actions in Miami-Dade county alone.

In October, Romney said that the United States should not “try and stop the foreclosure process. Let it run its course and hit the bottom,” a proposition that may have benefited his bottom line.

To speak to experts on this topic, please contact Madeline Meth at 202.741.6277 or mmeth@americanprogress.org

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