Obama's New 'Swiss Bank Account' Ad Slams Romney

The Obama campaign released a new ad on Tuesday that slams Mitt Romney for having a Swiss bank account, among other things, while working as a corporate executive.

After listing a litany of attacks on Romney's corporate and gubernatorial record, the narrator says, "It's just what you'd expect from a guy who had a Swiss bank account."

While defending the president on his clean energy initiatives, the ad goes after the oil industry's attacks on Obama as "over the top" and "erroneous." The narrator says, "President Obama’s clean energy initiatives have helped create jobs for projects across America, not overseas."

Then, shifting to his chief rival, the ad takes on Romney: "What about Mitt Romney? As a corporate CEO, he shipped American jobs to places like Mexico and China. As Governor, he outsourced state jobs to a call center in India. He’s still pushing tax breaks for companies that ship jobs overseas."

The Romney campaign responded to the new ad, labeling it as "desperate" and saying the Obama campaign is distracting voters from the economy.

"With the worst job creation record in modern history and the slowest economic recovery since the Great Depression, President Obama is trying to distract Americans from the real issues with a series of sideshows," said Amanda Henneberg, a spokeswoman for the Romney Campaign, in a statement. "Unable to defend his failed record of 23 million Americans struggling for work, wasteful boondoggles like Solyndra, skyrocketing national debt, and unacceptably high energy prices, President Obama has once again resorted to attacking Mitt Romney. The American people have suffered enough over the last three years and deserve better."

The ad, entitled "Swiss Bank Account," will air in Ohio, Iowa and Virginia, three swing states in the fall, beginning today, Politico reported.

Coinciding with the television ad launch, the Obama campaign added a map of Romney's offshore accounts to its website. With locations in Bermuda, Cayman Islands, Ireland, Luxembourg, Switzerland, Germany and Australia, the campaign says that Romney should bring his money back to the U.S. Every entry, after explaining what the account was for, says, "Value: not disclosed in tax returns."

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