Prof. Painter Quoted in Wall Street Journal on Gov. Romney's Financial Holdings

Professor Richard Painter was quoted in a Wall Street Journal article on financial disclosure and conflict of interest issues that could arise from Governor Mitt Romney's private equity holdings if he wins the election. Painter, who was the chief White House ethics lawyer for President Bush, said that a President Elect Romney would probably have to sell many of his holdings because it is nearly impossible to disclose the underlying assets in the funds and there would be too many financial conflicts of interest. The article quoted Painter saying: "I think a lot of this is going to have to be sold," said Richard W. Painter, a former chief ethics lawyer in the George W. Bush White House and a Romney supporter. Even if a future President Romney could satisfy federal disclosure rules without selling, Mr. Painter said, there would be so many possible conflicts of interest in the portfolio he would be wise for political reasons to sell any but the blandest assets. "If I were the ethics lawyer in the White House and he were the president, my advice would be to just get rid of" many of the holdings, he said.