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Romney's holdings could be $250 million
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As far as knowing what life is like for those less blessed with wealth: Romney served for several years as an LDS bishop of a congregation and then as a stake president. In those roles, he was directly assessing the needs of, and administering aid to, those in difficult circumstances, on a face-to-face basis, in addition to counseling them.
I think it odd that the news media did not question John Kerry's capacity for compassion, even though he had married into a billion dollar fortune, rather than earning it through work.