Pritzker Yields Party Role Reversal on Offshore Trusts

Republicans defended Mitt Romney against criticism from Democrats that he avoided taxes by keeping money stashed overseas. Those roles are now reversed with the disclosure that President Barack Obama’s pick to run the Commerce Department does the same thing.

The nomination of Chicago billionaire Penny Pritzker marks the second time this year that Obama has put forth a cabinet nominee with offshore accounts -- months after he castigated Romney, the Republican presidential candidate, for utilizing them. In a financial disclosure released last week, Pritzker said she received $53.6 million in income last year from a trust in the Bahamas.