Mitt Romney’s problems over when precisely he left Bain Capital continue to pose a problem for him. He contradicted himself on two separate forms to two federal agencies, both of which carry a perjury statute. He told the SEC from 1999-2001 that he remained the CEO and sole shareholder of Bain Capital, and he told the FEC in a Financial Disclosure Form that he left Bain in 1999. I suppose there’s a way that both could be true, but it’s highly unlikely.
And now, there’s little reason to believe that the narrative the Romney campaign has pushed, that he left in 1999, is totally factual. Ryan Grim digs up testimony from Romney in 2002 showing that he participated in Bain-related activities after the departure date:
Mitt Romney’s repeated claim that he played no part in executive decision-making related to Bain after 1999 is false, according to Romney’s own testimony in June 2002, in which he admitted to sitting on the board of the Lifelike Co., a doll maker that was a Bain investment during the period.
Romney has consistently insisted that he was too busy organizing the 2002 Winter Olympics to take part in Bain business between 1999 and that event. But in the testimony, which was provided to The Huffington Post, Romney noted that he regularly traveled back to Massachusetts. “[T]here were a number of social trips and business trips that brought me back to Massachusetts, board meetings, Thanksgiving and so forth,” he said.
Romney’s sworn testimony was given as part of a hearing to determine whether he had sufficient residency status in Massachusetts to run for governor.
Romney testified that he “remained on the board of the Staples Corporation and Marriott International, the Life Like Corporation” at the time.
Yet in the Aug. 12, 2011, federal disclosure form filed as part of his presidential bid, he said, “Mr. Romney retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee. Since February 11, 1999, Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way.”
That federal disclosure form is looking shakier and shakier now. In response, Romney’s campaign went into ostrich mode, declining to answer questions about the discrepancies. So there’s a lot of smoke here.
It’s interesting that Romney made this testimony to prove his Massachusetts residency. For a decade now, he has been saying whatever would please both his campaign narrative and the letter of the law, even when those two came into conflict. And it’s catching up to him.
The fact that Romney received $100,000 in compensation for those years when he “left” Bain, despite contentions that he had nothing to do with them, makes this more of a problem. Really this all goes back to his refusal to release taxes. As an ultra-rich individual, Romney doesn’t want the public to see all the legal but ethically dubious shenanigans that go into tax sheltering. In addition, he wants to be absolved of responsibility for as much of what happened at Bain, including outsourcing and whatever else. So that leads to secrecy, and telling different things to different audiences. You do enough of that in the spotlight of a national campaign and you’re going to get yourself into big trouble.




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Mitt just needs to amend his disclosure forms. It’s been done before, the press lost all interest,
and the culprit is still in office.
Besides, aren’t we all supposed to be looking forward, not backward?
There is something extraordinarily eerie about the way Obama’s opponents consistently self-destruct. The only one who didn’t was Hillary Clinton, and she was as acceptable to the PTB as he is.
Next question how much stock did at the time in question and now today does Mitt have in Bain? Does Bain have 2 classes of stock is the next question some companies have voting stock and a cheaper lesser class of stock.
How much voting stock does he have?
Next question in votes at Bain how often does Mitt’s stock vote with the winning side on issues? If Mitt’s other stockholders are puppets that vote with Mitt all the time then he still runs the company in fact if not law.
Given Mitt was the founder of Bain and hired the executives who present ideas to the board well he who controls the information controls the choices that are made.
Was Benjamin Netanyahu affiliated with Bain when he lived in the U.S.? I know he’s personally close to Rmoney.
Obama needs to look at which companies Mitt OutSourced and Laid people off at and never hired them again in Red States and start doing commercials.
We’re ruled by criminals and there’s not a GD thing we can do about it.
Romney doesn’t want to release his taxes as it will show all the jobs low tax rates for the rich actually create.
Especially all that wealth he hides in Bermuda – it must create hundreds of jobs in the US.
Romney’s dad released his taxes and his opponent, Nixon, did not. Later we found out that Nixon cheated on four years of his taxes.
Placing your wealth in Bermuda to avoid paying US taxes during a time of war is unpatriotic.
All of this is more evidence that he will say and do anything for his next election campaign. He stands for nothing but himself, and he lies about that as well.
I’m puzzled. Is this guy as pathological liar or just a chronic fibber?
Seriously, ya’ know, one thing Americans really don’t like is liars. Of all the things he’s done and said, this lie could be a real problem for him.
I agree. All this will not play well in Iowa.
I am almost — almost — feeling sorry for the douchebags who run the Romney campaign, trying to respond to all this surrounded by non-factual statements from Romney’s past. It’s clear to me Mitt’s not told any of them the truth, either, which partly explains their floundering.
There’s no reason to think Mitt’s ever been forthcoming, to anyone on the campaign side, ever, about any of this. It’s business, not politics.
The $100k pay amount is a minimum Willard was paid. The SEC form only requires checking off a range of $100k and up just like when one fills out some survey.
Willard could actually have been making $5M a year. Thus the reason for keeping a lid on his tax returns which shields his tenure at Bain info.
Hey: it’s all good. What does it matter whether Rmoney or Dmoney is “elected.”
I’ve said from the beginning that my bet has been placed on O’bomba bc why should the PTB change horses in mid-stream?? O’bummer’s been the best damn thing that’s happened for the 1% in a long long time.
My guess is that Mittens was “drafted” to play this role, and his 1% buddies’ll just ship more filthy lucre to his various off-shore accounts. What the heck? Willard’s just doing his “duty.” No one REALLY expects a Mormon to win, do they??
Me too. But, so far, I’ve been able to fight it off sucessfully.
Indeed, if those tax returns come out the “jig is up” for Willard. The illegal contribnutions to his $million IRA, and all the money he was paid as “interest” off investments that was really “salary” will show him to be the pathological liar and tax evader he really is not to mention the corporate raider and pillager and job killer.
Gotta tell you. All the Mormonns I ever knew were honest, hard working, albeit overly religious bordering on cultists, but decent people.
Guess Mitt musta slipped through the cracks. His daddy was a good, honest man. And, yes I’m old enough to remember him.
It’s problematic that sociopaths look just like the rest of us.
Gosh I hope he waits until after he’s nominated to completely self-destruct. At this point there’s a chance he won’t.
He can’t afford to release 10-12 years of his taxes. To do so would mean Willard would have to drop out. Then in Tampa, the pack of cretins can select a Santorum/Bachmann ticket. For the Obama team that would be like the “smell of napalm in the morning” – “…the smell of victory”, to paraphrase Robert Duvall.
I know this news is all the rage this week but for me it has as much meaning as the birther stuff. Just more distractions!
Well not really. The birther stuff was totally bogus. Mitt destroying jobs and fiddling with taxes is for real. To me, that’s a big difference. Not that I think it’ll mean much in terms of the election, however. You can call it Kabuki Show, but comparing this to the birther stuff is, imo, an utterly false equivalency.
Oh, I agree. I know quite a few Mormons, and they tend to be very very nice, kind and thoughtful people. But if you know any non-Mormons who live in Utah, you will get a different picture. From what I understand (and I’ve heard similar stories from quite a few people, who don’t tend to exaggerate), the Mormons typically shun those who don’t want to join their church. It’s hard, except in some cases, for non-Mormons to get good jobs, and so on. Many non-Mormons end up leaving Utah bc it’s just too difficult to live there.
While the “ordinary” Mormon may well be a nice person, I think the church is a cult and operates much like Scientology. I don’t trust the church. Most of the Mormons that I’ve known have appeared to me to be pretty brainwashed.
I’ve helped two formerly Mormon women who were more less “deprogramming” themselves from the hive-mind. It was quite something to hear their stories, I can tell you. Don’t trust the cult. Willard is a “higher up” in that organization. Really don’t trust Rmoney, but it’s clear that Willard’s all about the money, honey. The end.
Read John Krakauer’s excellent book, “Under the Banner of Heaven,” for some interesting insights into the Mormons and their “religion.” Krakauer comments throughout the book that he grew up knowing quite a few Mormons, whom he considered genuine friends. However, his research into the LDS’s is quite revealing. An easy read, as well. Check it out from your local library (before it gets closed down).
If “Windowless” Willard has nothing to hide, why not release his returns.
Until we see his returns we know nothing about his income and who it was from.
The point is Willard’s whole campaign is based on his ‘businessman/job creator’ acumen. His tax returns will show when he really left Bain and any culpability in offshoring/destroying jobs. Would go to the heart of his whole campaign.