One of the worst things that can happen to a politician burdened by a controversy is generally captured by a sound: drip, drip, drip. Instead of making a full disclosure from the outset, the politician allows revelations to come slowly, one at a time, dragging out the issue while creating a longer series of damaging headlines.
When it comes to Mitt Romney and his Bain Capital, the drips just keep coming.
Back in 2002 when he was running for Governor of Massachusetts, Mitt Romney and his aides had no problem admitting he retained his position as CEO of Bain Capital after 1999. Press articles from the time describe how Mr. Romney was on a "leave of absence" after 1999 and had not fully cut ties with the private equity firm. [...]
Mr. Romney being on a "leave of absence" would explain the discrepancy and it doesn't mean he played any role in managing the company, however, according to at least one former Bain Capital executive, during a prior leave of absence, Mr. Romney still remained in a very active role with the company.
In 2002, a Boston Globe article quoted a former Bain Capital executive named Marc B. Wolpow who said Mr. Romney remained in a very active role at Bain Capital while he was supposedly on a leave of absence for his Senate race. Wolpow specifically said of Romney's role, "I reported directly to Mitt Romney.... You can't be CEO of Bain Capital and say, 'I really don't know what my guys were doing,'"
Daily Kos' Jed Lewison, meanwhile, highlights a Bain press release from July 1999 -- several months after Romney claims to have given up his role at the firm -- that describes Romney as being on "a part-time leave of absence" to work on the Olympics. What's more, Dave Weigel notes Bain materials that said Romney would continue to have "input on investment and key personnel decisions" after his alleged departure.
Making matters slightly worse, the Huffington Post has a report this afternoon, noting a federal disclosure form Romney filed in August 2011 that said Romney, after February 1999, "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." The article added, "That is false."
And making matters worse still, BuzzFeed has published a 2000 document, uncovered by our pal James Carter, that identifies Romney as being "principally engaged in the business of serving as sole stockholder of BCI VI, Inc. (Bain Capital Investors VI)" -- materials signed by Romney that clearly contradict other disclosure forms filed with the FEC. (Update: By "other disclosure forms filed with the FEC," I mean materials like these.)
The challenge, then, becomes figuring out which entity Romney was lying to: the SEC, the FEC, voters, or some combination thereof? Given the contradictions, and the fact that Romney's version of events clearly don't add up, his stories can't all be truthful.
Romney still has his defenders -- most notably the Washington Post's Glenn Kessler, whose defense strains credulity -- but the Republican's story appears to be unraveling quickly.
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I read on the internet that Mitt Romney through Bain Capital owned a company that disposed of aborted fetuses. Is this correct?
It's absolutely true of Bain (see here.) Whether it directly involves Romney depends on exactly when he left Bain, yet another reason why he's lying about that.
If your read it on the internet, especially a liberal based site....it MUST be true.
All this talk about Romney and Bain…I don’t get it? The question all of America should
be asking is…
Doesn’t Obama realize we currently have a 16 TRILLION dollar DEFICIT??? Doesn’t Obama realize that in just five months the Bush Tax Credits will expire and our taxes are about to skyrocket even further??? Doesn’t Obama realize that Congress will not pass a budget resolution AGAIN this year (4th year in a row) because the issue of the soaring National Debt??? And, when you add Obamacare for another 2.1 TRILLION dollars, does Obama even understand how that will affect the middle class and our economy?
This is completely unacceptable and very irresponsible on Obama's part. Remember, nothing in life is “FREE”. Everyone will pay dearly for Obama’s “FREE” Obamacare TAX! The brunt of it will fall on the middle class. And I haven’t even mentioned what it will do to jobs, our premiums, inflation, or our current healthcare system.
We are already starting to see what Obama’s policies are doing to America…with unemployment at record highs and homelessness abound, we are headed for a two-tiered system….the very rich and the very poor…no more middle class similar to Latin American countries just South of our borders. If you don’t believe me just go around the corner from our Church. There’s a huge homeless encampment living inside the trees and shrubs on Capital Expressway in San Jose, CA. Or go to the vacant Taco Bell building on Aborn and White Road. You can see them everywhere, now. You’re even starting to see families!
Everything being said about Romney and Bain doesn’t really matter; it’s a mute point because the only thing that matters is Romney vows to repeal Obamacare. That in itself is reason enough for everyone to vote for Romney.
Remember, there’s only one way to repeal this 2.1 TRILLION dollar mistake Obama has saddled us with…that’s to vote for anyone but Obama in November and repeal his “UNAFFORDABLE” Healthcare Act. I hope for everyone’s sake Romney gets
elected because we can not afford Obama for another four years.
Obama put the two wars Shrub II had been fighting on emergency funding bills into the actual budget. Bush II ran two wars on a credit card, refused to raise taxes to pay for the wars, and told us all to go out and shop.
Obama did not increase the deficit by the 2.1 Trillion... Shrub II did it.
Obama admitted we actually had to pay the bill... and rolled it into the budget to get the bloody thing paid off. What a concept.
Health care losses due to the use of ER's rather than doctors' offices to treat chronic illnesses-- or any illness-- are paid for by the rest of the community by either tax increases, increased premiums for existing policies, or puffed up prices for procedures and services to cover the losses.
ACA -- again, admits the problem exists, and proposes a viable solution. A solution the REPUBLICANS originally suggested... but because Obama endorsed it, run the other way-- screaming.
The moot point... mute is to silence... is Romney. His inability to take a stand means someone has their fist firmly up his spine and is in control... not the face and voice being presented to the public.
Wrong, another deficit spending budget again THIS year....Obama owns it now liberals....blaming Bush is all but tedious. Giveme is spot on.
Hopefuly congress will work with Obama better in his next term. It could get uglier than this election is going to be. Just imagine if the republicans control the house and Senate the next four years. How much excutive privliege will Obama be able to pull off.
We need a Ron Paul revolution....audit the fed, end the federal reserve and the commerce clause, all unconstitutional.
Ah, you're a Paulbot, that explains the complete divorce from reality.
Why doesn't Rachel mention the Fortune article(from earlier today)?
http://finance.fortune.cnn.com/2012/07/12/mitt-romney-bain-exit/
Remember that when Conoleezza Rice was on the board of Chevron, Cheney was the CEO of Haliburton. Hmmm. Oil company + oil service company ... Think they knew each other at all, or that Cheney had anything to do with Bush's choice to name National Security Advisor?
Condoleezza
Rice - Wikipedia, the free encyclopedia
Condoleezza
ice was on the board of Chevron, Cheney was the CEO of Haliburton.
This would be a stupid move on the Republican'ts part but what else is new. Condie is known as the "brown shoe" in the middle east. If you all recall the shoe that was thrown at Bush... this is the highest form of insult in their culture. Check this out: http://www.alarabiya.net/articles/2008/12/16/62132.html
Do you think perhaps that all of this "talk" about Condoleeza Rice is just a distraction - to try and distract people away from the Bain story?
In all reality, WHY would the Republicans choose Ms. Rice? Is the Republican Party so cynical that they think that choosing her will immediately get them the black and women's vote? That kind of thinking got them Sarah Palin and look what she did for them!!!! What else can she bring to the table? The extreme right wing isn't all that fond of her and she isn't terribly "charismatic"! At least Palin was able to bring in crowds!
I happen to think a lot of Ms. Rice and I don't think she would let herself be "used" in this manner! I think she has had quite enough of being "used" by the Bush administration!!
Besides, I don't think the extreme right trusts Romney - I think they will want "one of their own" for VP to watch over Romney, just like they had Cheney watch over Bush. Romney may be putting a "show" about choosing a VP, but I think he will be told who his VP running mate is!
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
Wouldn't it be interesting to find some IT guys from the Bain days to see if there was some VOIP set up for Romney to communicate from Salt Lake City to Bain? If it was done on the Olympic committees dime there should be public records. Considering how much this guy is liked (lol) I bet there's someone out there willing to spill the beans!
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
It seems to me that the president of a company is ultimately responsible for the decisions made by the company. If that is true, then Mr. Romney is responsible for the job losses and shipping of jobs overseas even if he claims to have done nothing with the company during that time frame.
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
kessler reminds me of the old quote krugman likes to use from time to time that its hard to make a man understand something when his paycheck depends on his not understanding it. by now, any sensible reader has got to be asking himself, 'what the hell would it take to make kessler see the light?' i'm beginning to wonder who fact checks the fact checkers?
Kessler is a registered Republican. He has myopic vision as far as MR is concerned. His credibility as a "fact checker" is shot.
arrow98: You are not a straight arrow.
She don't bother with it because the last quote says it all. HE WAS RESPONSIBLE
In fridays interviews aired on maddow, Mitt said he worked at the same company for 25 years. But bain was founded in 84, so if he left in 1999 that would only be 15 years....wonder if anyone else caught THAT lie......
The focus should actually be on a fact that even Romney does not dispute: That he was the sole owner of Bain Capital during the period the company made the layoffs and outsourcing operations. That should be enough for this discussion. He owned the company--he is responsible for what it did. It doesn't matter who he hired to run day-to-day operations at that company.
I was hoping that Romney would get asked what he thought of the company actions/layoffs during the period he claims to have been away. Given the facts he knows today, does he approve or disapprove of those actions? It's either he thinks it was OK, or he thinks it was terrible. If we could get him on tape saying how terrible he thought the actions of the company were during those years, this would be a great news and a trap for the next round of revelations.
Rachel..point of clarification: Romney reported earning, not just $100K while he was away in Utah, but more than $100K. This could mean he earned millions. We do not know that. Your segment repeatly said he earned $100k.
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
Nobody can have primary residence in two states except good old Mitt...Just like choosing both head and tail on a coin toss. You win either way. Poor Romney hates to lose.
This story brings to light that Mitt Romney was not qualified to run for governor of Massachusetts based on its residency requirements--and that means he may have committed voter fraud in the 2002 election, as well.
about Romney's retirement from Bain: from interview with Jan Crawford: Romney denied responsibility for any actions of the company after he says he left in Feb 1999, then said. .. "I left the business and went off to run the Olympics, did that full time and after three years, when the Olympics were over, we arranged my departure officially from a retirement standpoint."
Does that mean he was accruing money in his Bain pension fund during the 3 years time he says he was not there and taking no actions on behalf of the company? Did his $100,00 salary during those years count toward his retirement pay and is that why he got it?
The 'job creator' running on 'jobs' and spinning bains outsourcing, from CBS:
CRAWFORD: Let me ask you one final question Governor about the Olympics, which you know well. Obviously have a lot of people have been very upset this week to learn that our uniforms were manufactured in China and now an American company has come forward to say that they will make them here before the Olympics, do you think the Olympics committee should take them up on that?
GOV. ROMNEY: You know, I don't know the particulars or the circumstance, so I really can't comment on that. I presume they have sponsors that are associated with uniforms, and matters of that nature, so I'm not going to weigh into the decisions made in that regard.
CRAWFORD: Do you think the uniforms should have been made from the outset in America? Should that have been a priority or does it trouble you that our uniforms, for our US Olympic team were made in China?
GOV. ROMNEY: I think I really responded to that already, I don't have any further comment that what I've already said.
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
Question about Romney retirement: in interview with Jan CRAWFORD he denied any responsibility for any activity of Bain after he says he retired in 1999, then said ....." I left the business and went off to run the Olympics, did that full time and after three years, when the Olympics were over, we arranged my departure officially from a retirement standpoint."
Does that mean he was accruing money in a pension fund during the period he says he was not there and did nothing for the company? Did the $100,000 annual salary he got during those years add to his retirement pay? Are there any rules governing whether a private company can inflate a pension with salary from a no show job? Is it standard business practice?
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
It seems people who lie consistently have less need of a good memory. Most of us use memories of experiences and consequences, good or bad, to guide our conscience. Not being burdened with a conscience, thus feeling free to make up anything that casts one in a good light seems to be Mitts' sop. It becomes easy to answer questions to your own satisfaction, regardless of honesty or anyone elses satisfaction. Mitt may have a sense of humor but lacks a sense of honor.
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
romney's not ashamed of destroying people's jobs. what he's ashamed of is people finding out that bain capital—the company he owned 100 percent—provided the startup capital to Stericycle. Stericycle is one of two companies who sell aborted babies, placentas, etc. to pharmaceutical companies. 1.2 million aborted babies per year. at $5,000 per baby, that's 1/2 of $5 BILLION per year. guess what's on those tax returns from 2001 to 2011?????
romney's not ashamed of destroying people's jobs. what he's ashamed of is people finding out that bain capital—the company he owned 100 percent—provided the startup capital to Stericycle. Stericycle is one of two companies who sell aborted babies, placentas, etc. to pharmaceutical companies. 1.2 million aborted babies per year. at $5,000 per baby, that's 1/2 of $5 BILLION per year. guess what's on those tax returns from 2001 to 2011?????
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
Even if Romney was not active in day to day operations, he was Bain's owner in 2001 and 2002, so he cannot say he has no responsibility for the actions of his company! An owner, even an absentee owner, is still responsible. I wonder how much money, in addition to his salary, Romney made from the investments in the companies that Bain bankrupted, outsourced, and otherwise invested in after February, 1999. I suspect that it is in the millions.
Author George Lakoff points out the value of "framing"- ie, encapsulating an idea via a few highly characteristic words. A set of a four words can be effective in helping frame Mitt Romney. I would suggest that Rachel Maddow repeatedly refer to Romney as the "Vulture Capitalist in Chief".
Romney admits he signed Securities and Exchange Commission Documents showing himself as “sole stockholder, chairman of the board, chief executive officer, and president.” Regardless of his reasons, this action makes Romney legally liable and accountable for any and all actions taken by Bain. People have said that Romney is a regimented, well organized, cautious and a businessman who maintains control; this man may not be involved in day to day operations, but I find it hard to believe this astute businessman, who could be held legally liable, had no input or knowledge of what Bain did from 1999 to 2001.
In addition from the Globe article: "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 document shown on TV showed “over 100,000”.
In 2002 because Romney had been living and working in Utah there were hearings to determine Romney's eligibility to be Governor of Massachusetts, the Commission, as part of its ruling in favor of Romney’s residency eligibility, the panel noted Romney testified to the commission he traveled to Massachusetts where he sat on
the board of one notable Bain-related company, the office supply chain, Staples. Romney “testified that he was a director of Staples, Marriott International and Life Like,” the commission’s finding states. Well based on his comments to this Commission he admits he was still active at some level in Bain.
So when did he resign as director of Staples, Marriott International and LifeLike all three Bain related companies?
When he left the Governor’s office he had all his e-mails deleted and hard drives removed, where there communications and directives between him and Bain Capital in those e-mails or on those hard drives?
Regarding Romney’s tax return: 'Just four years ago, Mitt Romney gave the McCain campaign 23 years of tax returns -- and didn't get picked for the VP slot. ( By Joe Trippi Published July 11, 2012 FoxNews.com)." If he was willing to provide that many years to be VP candidate, why would you do less to be Presidential Candidate? Mitt Romney’s response to provide more tax returns than 2010 and an estimate (so far) for 2011 is that he has provided what is required. Shouldn’t the man who wants to be President want to go beyond the legal tax requirements and release his tax returns from 1999 to 2009. President Obama released 12 years of returns, Former President George W. Bush and Bill Clinton released 8 years, and Former President Regan released 6 years. Shouldn’t the man who wants to be President not just want to do the minimum, but go beyond and go the extra mile?
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
Romney takes money from Koch Brothers whose father was one of the Founders of the John Birch Society, Adeleson, Karl Rove Super Pac, Big Oil Companies, Banks and let us not forget the man who donated just under a million dollars and now is one of Romney's Energy Advisers. So your point and by the way is breibart.com a white supremacist group?
I have a suggestion..though I doubt it will be taken..the right wing got the birth certificate...why can't we get the tax statements??? Hmmm???
There are more documents being perused as we speak....Mitt the Hoople has Bain Capital friends trying to help him get over this hump by saying he was free and clear from Bain Capital....The problem with people like Mitt the Hoople is that people who make a lot of money make a lot of enemies too. These Bain Capital friends might want to watch their backs because according to SUN TZU's "THE ART OF WAR", the first two ways to win a war excellently is to attack your enemies plan( Bain Capital Success Rate) and then attack the enemies alliances....
http://www.breitbart.com/Big-Government/2012/07/13/Obama-took-bain-cash
I just read that Romney had to amend his 1999-2001 tax returns in 2002 to state he was a Massachusetts resident:
http://articles.boston.com/2012-07-13/opinion/32646257_1_tax-returns-mitt-romney-income-taxes
So, he was not qualified to be governor of Massachusetts, by their residency laws about that, but he amended his tax returns to make it look like he was qualified.
It looks like he was qualified to vote in Massachusetts in 2002, since the residency requirements for voting are less strict (although he wasn't qualified to vote for Scott Brown in 2010, but that is another story). However, he legally should never have been a candidate for governor.
I do not want Romney for liar-in-chief!