There are only a few reasons I can think of why an American like Mitt Romney would put, or allow to be put, a substantial amount of their wealth in offshore bank accounts.

  1. To evade US taxes (which is illegal)
  2. To avoid US taxes (which is legal but not always patriotic)
  3. Because he doesn’t trust American banks or the US banking system
  4. Because he doesn’t trust the American economy
  5. Because they he doesn’t the value of the Dollar
  6. He wants to hide his financial dealings or net worth from people he is asking to trust him with their vote
  7. He don’t feel that connected to America, its future and fate as most Americans do
  8. He wants to hedge his bets should something happen to America, our banks or economy
  9. Because he can get a better return on his money from the other banks
I don’t know about you, but I wouldn’t want a president who used offshore banks for reasons 1-8.  I would hope that someone who aspired to be the President of the US and was such a smart business person as Mitt Romney claims to be, would figure out a way to invest their money in the US where they could get a better return on their income than from overseas banks.
If there are other reasons why Mitt Romney and his families wealth are domiciled overseas that are different than the reasons I can think of and he doesn’t want to disclose his reasons I think then: 1) these reasons would reflect poorly on Mitt Romney or 2) he wouldn’t disclose the reasons is because he doesn’t think the average American, the 98-99% of us who are not super rich, would be smart enough to understand his reason and agree it does not reflect poorly.  Either way, I wouldn’t want someone with these reasons to be my President.