“You can’t say statements filed with the SEC are meaningless. This is a fact in an SEC filing.”
~Roberta S. Karmel, former SEC Commissioner
Here is why all of this is such a big deal; Mitt Romney claims he is the right man to be President because of his business experience. And while he will not show anything beyond 1 full year of tax returns which presumably means he has many things to hide as this is a standard expectation of people running for President … when he left Bain Capital matters as news organizations investigate and comb through what that supposed experience entails. If Mitt Romney took over more companies and then shipped off American jobs to China or just simply bankrupted the company by borrowing heavily, cutting worker’s wages and benefits and then walking away with $100 million dollars … voters need to know this.
Is this why he so much money kept in overseas offshore tax havens? (source). Not only does it lower his overall tax rates in the most unpatriotic way possible … it has the added bonus of secrecy to prevent journalists from fact checking Romney’s claims.
To understand Mitt Romney’s impact on people’s lives…you can hear it directly from workers who lost everything because of Bain Capital HERE and HERE and HERE and HERE and HERE and HERE and HERE and HERE and HERE.
The Boston Globe reports HERE:
Government documents filed by Mitt Romney and Bain Capital say Romney remained chief executive and chairman of the firm three years beyond the date he said he ceded control, even creating five new investment partnerships during that time.
Romney has said he left Bain in 1999 to lead the winter Olympics in Salt Lake City, ending his role in the company. But public Securities and Exchange Commission documents filed later by Bain Capital state he remained the firm’s “sole stockholder, chairman of the board, chief executive officer, and president.”
Also, a Massachusetts financial disclosure form Romney filed in 2003 states that he still owned 100 percent of Bain Capital in 2002. And Romney’s state financial disclosure forms indicate he earned at least $100,000 as a Bain “executive” in 2001 and 2002, separate from investment earnings.
The timing of Romney’s departure from Bain is a key point of contention because he has said his resignation in February 1999 meant he was not responsible for Bain Capital companies that went bankrupt or laid off workers after that date.
Talking Points Memo points us to two different SEC filings that show Romney was at Bain after 1999 HERE:
But here’s the thing. I’ve found yet more instances where Romney made declarations to the SEC that he was still involved in running Bain after February 1999. To the best of my knowledge, no one has yet noted these.
The documents go into different aspects of Romney’s ownership of various Bain and Bain related assets. But in both Romney had to say what he currently did for a living.
Mother Jones reports that Romney invested in a company that disposed of aborted fetuses showing he stayed in control of Bain beyond the time he originally claimed HERE:
Earlier this year, Mitt Romney nearly landed in a politically perilous controversy when the Huffington Post reported that in 1999 the GOP presidential candidate had been part of an investment group that invested $75 million in Stericycle, a medical-waste disposal firm that has been attacked by anti-abortion groups for disposing aborted fetuses collected from family planning clinics. Coming during the heat of the GOP primaries, as Romney tried to sell South Carolina Republicans on his pro-life bona fides, the revelation had the potential to damage the candidate’s reputation among values voters already suspicious of his shifting position on abortion.
Like us on Facebook?