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Jon Stewart the BAIN of Willard Romney

Offbeat  (tags: americans, culture, funny, humor, performance, society )

- 2139 days ago -
Bain Damage: Getting paid at least $100,000 a year to do nothing is the kind of common-sense business experience Mitt Romney hopes to bring to the White House.

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Roger G (154)
Tuesday July 17, 2012, 12:27 pm
noted thanks !

John Doe (22)
Tuesday July 17, 2012, 12:49 pm
'God' Save America! - For only he/she can. Mitt is a proven liar and couldn't save himself.

John Doe (22)
Tuesday July 17, 2012, 12:49 pm
'God' Save America! - For only he/she can. Mitt is a proven liar and couldn't save himself.

John Doe (22)
Tuesday July 17, 2012, 12:51 pm
No tax returns = No credibility.

Angela N (0)
Tuesday July 17, 2012, 1:02 pm

Jason S (50)
Tuesday July 17, 2012, 1:46 pm

Terry King (113)
Tuesday July 17, 2012, 3:33 pm
The worst use of a time machine ever seen! :0)

Gene J (290)
Tuesday July 17, 2012, 3:40 pm
I love it. That was great. So, NOW Mitt wants to get paid $400,000 per year by the American people to do the same thing he did for Bain in 2001 and 2002. Nothing. Because as the Republicans have already said, it doesn't matter who is in the White House, as long as it is a republican, and they control Congress. Mitt wants to be THAT guy, lmao... Actually he IS that guy.

Robert Hardy (68)
Tuesday July 17, 2012, 3:52 pm
Good stuff! But will the American people understand this warning?

Phil R (29)
Tuesday July 17, 2012, 4:56 pm

Talya H (10)
Tuesday July 17, 2012, 6:01 pm
Hahahaha :)

Christeen A (369)
Tuesday July 17, 2012, 7:45 pm
Jon Stewart-always the best. He tells it like it is.

Anna M (18)
Wednesday July 18, 2012, 6:13 am
Jon Stewart and his writers are the best entertainers on TV, only he can make anything about US politic humorous. Long Live Jon Stewart!!!!

JL A (281)
Wednesday July 18, 2012, 7:46 am
nice puns

Sandi C (98)
Wednesday July 18, 2012, 10:11 am
Jon Stewart gotta Love him!

Susanne R (235)
Wednesday July 18, 2012, 12:02 pm
Since Mitt retired from Bain Capital "retroactively" effective 1999, did he return the $100,000 salary he received each year prior to his "retroactive" retirement? Mr. Romney either expects too much of his audience, or his audience expects too little of him.

Thanks for posting this terrific Jon Stewart clip, Kit!

Craig Pittman (52)
Wednesday July 18, 2012, 12:39 pm
Great Kit. It's fine to be able to find humour in politics once in a while.

TomCat S (129)
Thursday July 19, 2012, 7:19 am
A real Bain in the arse!

Michael T (82)
Friday July 20, 2012, 8:05 pm
Here's a time line for Bain Damage.
February 11, 1999
Romney announces his departure from Bain Capital to run the Salt Lake City Olympics. The Boston Herald reports that "he will stay on as a part-timer with Bain, providing input on investment and key personnel decisions." In Turnaround, he writes of his decision, "I would walk away from my leadership at Bain Capital at the height of its profitability and take a position without compensation." According to Bain Capital and the Romney campaign, this marks the drop-dead point: "He has had no involvement in the management or investment activities of Bain Capital, or with any of its portfolio companies since that time," a Bain spokeswoman told David Corn in July.

March 25, 1999
More than a month after Romney claims to have retired from the company, new filings with Securities and Exchange Commission (SEC) indicate that he is still the sole shareholder and president of Brookside and Sankaty.

November, 1999
Along with Chicago-based private equity firm Madison Dearborn Partners, Bain purchases $75 million worth of shares in Stericycle, a medical waste company that, among other things, disposes of aborted fetuses. Documents filed with the SEC state that Romney has "voting and dispositive power" as CEO of Bain.

Michael T (82)
Friday July 20, 2012, 8:06 pm
January 3, 2000
An SEC document signed by Romney states: “W. Mitt Romney is principally engaged in the business of serving as sole stockholder of BCI VI, Inc. (Bain Capital Investors VI).” Another SEC filing seven months later identifies him as "managing director of Bain Capital"

November 11, 2000
Ann Romney tells the Boston Globe that Bain has absorbed almost all of her husband's time. Romney "has had to lessen his involvement with Bain Capital, his investment firm," the paper reports.

December, 2000
Bain Capital makes one of its most controversial acquisitions, paying $300 million for KB Toys, most of it borrowed. KB later took out loans to pay out bonuses to Bain execs worth more than $120 million. It filed for bankruptcy in 2004 and closed 600 stores. It is likely that the payout from this action is recorded in Romney tax filings even if it isn’t listed as income from Bain, by our retroactively non-functioning CEO.

February, 2001
In an SEC filing, Romney lists his "principal occupation" as "managing director of Bain Capital." That same year, a filing with the Massachusetts State Ethics Commission filing notes that Romney sits on the board of LifeLike, a doll manufacturer acquired by Bain at Romney's direction. Documents submitted to the SEC in May identify Romney as a "member of the management committee" of two other Bain entitites.

Michael T (82)
Friday July 20, 2012, 8:06 pm
August 21, 2001
Leaving for real this time: The Salt Lake Tribune reports that Romney gives up "control over all of Bain Capital’s voting stock, dividing the shares between the two dozen directors. The divestiture had no financial ramifications, Romney said, affecting only the management and control of the company." This change in status was affirmed by Romney's lawyer in a 2007 Washington Post interview.

January, 2002
Five new entities formed by Bain and incorporated in Delaware list Romney as a manager. Later that year, when it becomes clear he will enter politics rather than return immediately to the private sector, Romney and Bain finalize his severance package. The 10-year deal is retroactive to 1999.

June, 2002
In order to demonstrate that he's eligible to be on the ballot in Massachusetts, Romney testifies to the state Ballot Law Commission that he sat on the board of Lifelike and Staples, and flew home regularly for board meetings: "[T]here were a number of social trips and business trips that brought me back to Massachusetts, board meetings, Thanksgiving and so forth."

December, 2002
One month after Romney defeats Democrat Shannon O'Brien to become Massachusetts' governor-elect, Bain files an annual report with the state listing Romney as a managing member of the firm.

Michael T (82)
Friday July 20, 2012, 8:08 pm
May 27, 2003
Romney files a financial disclosure form claiming 100 percent ownership in Bain Capital for the previous years, and six-figure compensation from the company in 2001 and 2002.
Mother Jones July 16, 2012

I think that Romney's income was far greater than the $100,000 he acquired as an absentee retroactively retired salary. He probably received millions that were directly paid to his blind trust and not reportable as income from Bain. That is most likely whey he won't release the tax returns.
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