It is PRECISELY this reason that Romney will not show you his tax returns. Somehow – Gawker obtained all of these confidential financial documents that Romney has investments in via Bain Capital. Romney has a real problem here. Romney will not disclose his financial records because he his hiding things that he doesn’t want the American people to know about. This isn’t even stuff about Romney’s personal taxes which would be very revealing … this is just a trove of information on companies that he has invested in.
All told – Gawker has found “ internal audits, financial statements, and private investor letters for 21 cryptically named entities” that Romney has invested in. All of these documents are from 2008, 2009 and 2010. When Romney filed his federal disclosure forms to the U.S. Office of Government Ethics in 2007 – he told the government that he was unable to receive these documents as they were proprietary information. And somehow as part of Romney’s “retirement agreement” from 1999 – it includes deals that started in 2002. Of course – we all know by now that Romney was the sole shareholder and owner of Bain until 2002 thanks to some great reporting by Mother Jones. These investments only account for $10 million in assets for Romney despite having an estimated net worth of $250 million or more.
Politico points out HERE:
According to his 2012 financial disclosure, Romney was given a stake in Sankaty Credit Opportunities L.P. as part of his retirement package in 1999. But Sankaty Credit Opportunities didn’t exist until 2002.
“In other words, Romney’s 1999 retirement agreement included an investment in an entity created in 2002—in fact, was created in the heat of his first gubernatorial campaign in Massachusetts,” Cook wries. “When Romney explained at an October 29, 2002, debate in Massachusetts that he wasn’t responsible for Bain’s actions after his 1999 retirement, it was just 8 weeks after the creation by Bain of a fund that was part of his retirement agreement.”
Gawker writes HERE:
Today, we are publishing more than 950 pages of internal audits, financial statements, and private investor letters for 21 cryptically named entities in which Romney had invested—at minimum—more than $10 million as of 2011 (that number is based on the low end of ranges he has disclosed—the true number is almost certainly significantly higher). Almost all of them are affiliated with Bain Capital, the secretive private equity firm Romney co-founded in 1984 and ran until his departure in 1999 (or 2002, depending on whom you ask). Many of them are offshore funds based in the Cayman Islands.
You can find all of the documents HERE. Most of these hedge funds and entities are based in the Cayman Islands.
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