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Romney's Exit From Bain: Lying Then or Lying Now?


Business  (tags: americans, Bain Capital, Romney, candidate )

Kit
- 2563 days ago - commondreams.org
Damning report shows Romney 'man in charge' 3 years beyond what candidate has claimed Who's lying now?



   

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Comments

Terry King (113)
Thursday July 12, 2012, 9:43 pm
Mitt wouldn't recognize the truth if it bit him on the a$$!
 

Past Member (0)
Thursday July 12, 2012, 9:56 pm
I hope they add a few years for impersonating a police officer in the state while his father was governor.
 

pam w (139)
Thursday July 12, 2012, 10:27 pm
“Now, we know that he wasn’t telling the truth.”

++++++++++++++ Ya' THINK? Gee....what a SHOCKER! This man speaks from both sides of his lying mouth!
 

Past Member (0)
Thursday July 12, 2012, 10:31 pm
Obama campaign: ‘Severe consequences’ if Romney committed felony with Bain lies

Presumptive Republican presidential nominee Mitt Romney may be guilty of federal felony if he lied to the Security and Exchange Commission (SEC) about when he ceded control of Bain Capital, President Barack Obama’s campaign suggested on Thursday.

The Boston Globe reported on Thursday that SEC documents showed that Romney continued to serve as Bain’s “sole stockholder, chairman of the board, chief executive officer, and president” until 2002 — even though he has repeatedly claimed that he left the company in 1999.

In an attempt to defend against claims that Romney was Bain’s CEO during the period that the company invested in firms that moved American jobs to countries like China, FactCheck.org may have accidentally revealed that the GOP candidate committed a “federal felony.”

"In fact, if the Obama campaign were correct, Romney would be guilty of a federal felony by certifying on federal financial disclosure forms that he left active management of Bain Capital in February 1999,” FactCheck.org wrote before the The Boston Globe‘s report came to light.

Obama campaign lawyer Robert Bauer noted on Thursday that there could be “severe consequences” for individuals and companies that lied to the SEC.

“If in fact as he now claims that he was not active with the company, that he was not the controlling person that is described here, that means that these statements are false and as I said, there are very, very serious legal consequences that would follow,” Bauer explained.

“Of particular consequence would be a misrepresentation that involves a controlling person,” he added. “And as these representations show, Romney is the controlling person. You know, he is the person who is the sole stockholder, the chairman of the board, the chief executive officer and the president. And the consequences for the controlling person of this sort of potential misrepresentation — and frankly on this record, it appears by his own words — absolute misrepresentation because he’s now saying none of this matters, none of this is true.”

“[It's] very, very serious. And in the normal course would subject somebody in this position to every manner of investigation with all the consequences that you can imagine that would follow.”

For its part, the Romney campaign has claimed that the Globe article is simply incorrect.

“The article is not accurate,” Romney press secretary Andrea Saul said on Thursday. “As Bain Capital has said, as Governor Romney has said, and as has been confirmed by independent fact checkers multiple times, Governor Romney left Bain Capital in February of 1999 to run the Olympics and had no input on investments or management of companies after that point.”

And Romney adviser Matt McDonald told Politico that the FactCheck.org analysis had been misunderstood.

“FactCheck was saying, if Mitt Romney was actively managing Bain, as the Globe asserts, and he certified that he wasn’t actively managing Bain, then he would be guilty of a federal felony,” McDonald said. “They are not saying that he would be guilty of a federal felony [just] for saying he left in 1999.”

 

Susanne R (236)
Thursday July 12, 2012, 10:33 pm
I hope this puts an end to his presidential aspirations but, unfortunately, Mitt has a tendency to come out on top. Let's face it: a) he has friends in high places; b) money can fix all kinds of problems; and c) people believe what they want to believe. Some of them think he asked his cook to add "cheesy grits" to his family's breakfast menu.

As Kit indicated, history will probably be rewritten before we see the morning light...
 

Suruna WTF (38)
Thursday July 12, 2012, 11:27 pm
Great comment Susanne!

I swear to GAWD! The man is pathological! Money, connections and idiot supporters or not, how can he last through a complete campaign? It just doesn't stop, he is exposed repeatedly for his lies. And today his campaign is flooding the target markets with ads calling Obama a liar. Hysterical! Even the Faux News audience is aghast.

Rachel's show tonite can simplify your research, a great many "historical" examples of Romney's change of position and heart. He is so exposed.

He keeps trying to change the Bain subject with the Olympics, which was a fiasco, an expensive one, for us, due to his mismanagement, it is just one thing after another. Hey Mitt, how do you spell screwed? And now, drum roll please, a possible felony? ROTFLMAO!
 

Judy C (91)
Thursday July 12, 2012, 11:55 pm
I love it! I wish we could say, "Stick a fork in Romney, he's done". Here's a link to the Boston Globe article:


Obama Campaign Accuses Mitt Romney of Lying About Bain Tenure


Romney is a slimy, slippery character. This is a Vanity Fair article from a while back that provides more of the details about his style of doing business:


Mitt Romney's Offshore Accounts, Tax Loopholes, and Mysterious I.R.A.
 

Judy C (91)
Thursday July 12, 2012, 11:57 pm
David Corn at Mother Jones also has some good ammo against Romney.
 

Past Member (0)
Friday July 13, 2012, 12:03 am
Mitt Romney used to impersonate police officers for fun

A former classmate of Mitt Romney has spilled the beans about the GOP presidential hopeful's collegiate past of impersonating a police officer. He is said to have pulled people over under false authority, and even went so far as to issue tickets.

Robin Madden is a television producer and was a former friend and classmate of Mitt Romney while they both attended Stanford University in the 1960s. He candidly recalls the incident during an interview featured on The National Memo, “Come up, I want to show you something.” said Romney. When they entered Romney’s room there was “laid out on his bed a Michigan State Trooper’s uniform.” Madden recalls.

The story doesn't stop there. Madden went on to specifically recount the tale told by Romney. He claims Mitt said "he had gotten the uniform from his father. He told us that he was using it to pull over drivers on the road. He also had a red flashing light that he would attach to the top of his white Rambler.”

A New York Times article confirms the allegations, stating that “He staged an elaborate formal dinner in the median strip of a busy thoroughfare,” and another time “dressed up in a uniform similar to that worn by a police officer, put a flashing red ‘cherry top’ on his car, and raced after a vehicle carrying two of his male friends and their dates. By prearrangement, the friends had stashed beer bottles in the trunk and knew that Romney would pretend to be an officer chasing them. The dates had no idea of the plot.”

Impersonating a police officer is a crime in every state, including California where Stanford University is located. Specifically it carries a penalty of up to a year in jail, and a $15,000 fine.
 

Suruna WTF (38)
Friday July 13, 2012, 12:12 am
Well isn't he just the merry prankster. Couple these fairly innocuous stories with the, now, lifelong pattern of privilege assumed, and this is who the GOP is offering as a candidate? Well, I guess it makes sense, he's their Poster Boy.
 

Past Member (0)
Friday July 13, 2012, 12:13 am
Romney hair-cutting prank: School leaders say similar incidents today would bring punishment
 

Past Member (0)
Friday July 13, 2012, 12:15 am
Assault with a deadly weapon? I'm sure the poor gay kid thought it was at least that.
 

Michael Carney (217)
Friday July 13, 2012, 12:26 am
Noted...this guy lies so much, I question if his name is really Willard "Mitt" Romney...This clown is living proof, that money is the root of all evil...
 

Past Member (0)
Friday July 13, 2012, 1:04 am
Mendacious Mitt: Romney's bid to become liar-in-chief

Four years ago, when I was writing about the 2008 presidential campaign, I wrote with dismay and surprise at the spate of falsehoods coming out of John McCain's campaign for president. McCain had falsely accused his opponent Barack Obama of supporting "comprehensive sex education" for children, and of wanting to raise taxes on the middle class, while his running mate, Alaska Governor Sarah Palin, took credit for opposing the so-called "Bridge to Nowhere", which she had actually supported.

At the time, such false and misleading claims from a presidential candidate seemed shocking: they crossed an unstated line in American politics – going from the usual garden-variety campaign exaggeration to wilful lying.

Ah, those were the days … after watching Mitt Romney run for president the past few months, he makes John McCain look like George Washington (of "I Can't Tell A Lie" fame).

Granted, presidential candidates are no strangers to disingenuous or overstated claims; it's pretty much endemic to the business. But Romney is doing something very different and far more pernicious. Quite simply, the United States has never been witness to a presidential candidate, in modern American history, who lies as frequently, as flagrantly and as brazenly as Mitt Romney.

Now, in general, those of us in the pundit class are really not supposed to accuse politicians of lying – they mislead, they embellish, they mischaracterize, etc. Indeed, there is natural tendency for nominally objective reporters, in particular, to stay away from loaded terms such as lying. Which is precisely why Romney's repeated lies are so effective. In fact, lying is really the only appropriate word to use here, because, well, Romney lies a lot. But that's a criticism you're only likely to hear from partisans.

My personal favorite in Romney's cavalcade of untruths is his repeated assertion that President Obama has apologized for America. In his book, appropriately titled "No Apologies", Romney argues the following:


"Never before in American history has its president gone before so many foreign audiences to apologize for so many American misdeeds, both real and imagined. It is his way of signaling to foreign countries and foreign leaders that their dislike for America is something he understands and that is, at least in part, understandable."

Nothing about this sentence is true.

President Obama never went around the world and apologized for America – and yet, even after multiple news organizations have pointed out this is a "pants on fire" lie, Romney keeps making it. Indeed, the "Obama apology tour", along with the president bowing down to the King of Saudi Arabia, are practically the lodestars of the GOP's criticism of Obama's foreign policy performance (the Saudi thing isn't true either).

But foreign policy is a relatively light area of mistruth for the GOP standard-bearer. The economy is really where the truth takes its greatest vacation in Romney world. First, there is Romney's claim that the 2009 stimulus passed by Congress and signed by President Obama "didn't work". According to Romney, "that stimulus didn't put more private-sector people to work." While one can quibble over whether the stimulus went far enough, the idea that it didn't create private-sector jobs has no relationship to reality. According to the Congressional Budget Office, the stimulus bill created more than 3m jobs – a view shared by 80% of economists polled by the Chicago Booth School of Business (only 4% disagree).

Romney also likes to argue that the stimulus didn't help private-sector job growth, but rather helped preserve government jobs. In fact, the Obama years have been witness to massive cuts in government employment. While the private sector is not necessarily "doing fine", as Obama said in a recent White House press conference, it's doing a heck of a lot better than the public sector.

And the list goes on. Romney has accused Obama of raising taxes – in reality, they've gone down under his presidency, and largely because of that stimulus bill that Romney loves to criticize. He's accused the president of doubling the deficit. In fact, it's actually gone down on Obama's watch.

Romney took credit for the success of the auto bailout – even though he wrote an op-ed for the Washington Post titled "Let Detroit Go Bankrupt". He's said repeatedly that businesses in America see Obama as the "enemy", and that under his presidency "free enterprise" and economic freedom" are at risk of disappearing. In reality, since taking office, corporate profits, industrial production and the stock market are up, while corporate bankruptcies have actually decreased.

Then, there is the recent Romney nugget that the Obama administration passed Obamacare with the full knowledge that it "would slow down the economic recovery in this country" and that the White House "knew that before they passed it". It's an argument so clearly spun from whole cloth that according to Jonathan Chait, the acerbic political columnist for New York Magazine, Romney is "Just Making Stuff Up Now".

Also of Obamacare, Romney has said that it will lead to the government taking over 50% of the economy (not true) – its true cost can't be computed (that's why we have a Congressional Budget Office in the United States); that it will create to "a massive European-style entitlement" (many liberals wish this were true, but alas, it is not); and that it will lead to a government-run healthcare system (a lie so pervasive that it's practically become shorthand for Republicans – yet it too, like the infamous made-up death panels of the health care debate, is simply not accurate).

The lying from the Romney campaign is so out-of-control that Steve Benen, a blogger and producer for the Rachel Maddow show compiles a weekly list of "Mitt's Mendacity" that is chockfull of new untruths. Benen appears unlikely to run out of material any time soon, particularly since Romney persists in repeating the same lies over and over, even after they've been debunked.

This is perhaps the most interesting and disturbing element of Romney's tireless obfuscation: that even when corrected, it has little impact on the presumptive GOP nominee's behavior. This is happening at a time when fact-checking operations in major media outlets have increased significantly, yet that appears to have no effect on the Romney campaign.

What is the proper response when, even after it's pointed out that the candidate is not telling the truth, he keeps doing it? Romney actually has a telling rejoinder for this. When a reporter challenged his oft-stated assertion that President Obama had made the economy worse (factually, not correct), he denied ever saying it in the first place. It's a lie on top of a lie.

Now, it's certainly true that on the campaign trail, facts can be stretched in many different directions – and both parties, including President Obama, frequently make arguments that are misleading, lacking in context or simply false. But it is virtually unheard of for a politician to lie with such reckless abandon and appear completely unconcerned about getting caught.

Back in the old days (that is, pre-2008) it would have been considered unimaginable that a politician would lie as brazenly as Romney does – for fear of embarrassment or greater scrutiny. When Joe Biden was accused of plagiarizing British Labor Leader Neil Kinnock's speeches in 1988, it derailed his presidential aspirations. When Al Gore was accused of exaggerating his role in "inventing the internet" (which, actually, was sort of true), it became a frequent attack line that hamstrung his credibility. Romney has done far worse than either of these candidates – yet it's hard to discern the negative impact on his candidacy.

Romney has figured out a loophole – one can lie over and over, and those lies quickly become part of the political narrative, practically immune to "fact-checking". Ironically, the more Romney lies, the harder it then becomes to correct the record. Even if an enterprising reporter can knock down two or three falsehoods, there are still so many more that slip past.

It's reminiscent of the old line that a lie gets halfway around the world before the truth gets its boots on. In Romney's case, his lies are regularly corrected by media sources, but usually, in some antiseptic fact-checking article, or by Democratic/liberal voices who can be dismissed for their "partisan bent". Meanwhile, splashed across the front page of newspapers is Romney saying "Obamacare will lead to a government take-over of healthcare"; "Obama went on an apology tour"; or "the stimulus didn't create any jobs". Because, after all, it's what the candidate said and reporters dutifully must transcribe it.

Pointing out that Romney is consistently not telling the truth thus risks simply falling into the category of the usual "he-said, she-said" of American politics. For cynical reporters, the behavior is inevitably seen to be the way the political game is now played. Rather than being viewed and ultimately exposed as examples of a pervasive pattern of falsehoods, Romney's statements embed themselves in the normalized political narrative – along with aggrieved Democrats complaining that Romney isn't telling the truth. Meanwhile, the lie sticks in the minds of voters.

As MSNBC's Steve Benen told me:

"Romney gets away with it because he and his team realize contemporary political journalism isn't equipped to deal with a candidate who lies this much, about so many topics, so often."

Romney is charting new and untraveled waters in American politics. In the process, he is cynically eroding the fragile sense of trust that exists between voters and politicians. It's almost enough to make one pine for the days when Sarah Palin lied about "the Bridge to Nowhere".
 

Past Member (0)
Friday July 13, 2012, 1:18 am
It seems only right that this guy is taken down on Perjury charges.

Someone better tell Ron Paul to clean his suit.
 

AWAY AWHILE Cal Mendelsohn (1065)
Friday July 13, 2012, 1:20 am
Thanks Kit...the edge of his deceit is showing
 

Past Member (0)
Friday July 13, 2012, 1:25 am
Everything Willard Romney utters is a lie, starting with HIS NAME!
 

Barbara K (62)
Friday July 13, 2012, 5:29 am
I haven't heard Romney tell the truth about anything. Every time he opens his mouth, he spews lies about the President, about his past, about what he will do, about what he already did, and on and on. He is definitely the King of the Liars Club. Why would we want such a dishonest, lying, deceitful Romney running this country? We wouldn't. We need to have integrity and it won't be found in Romney.
 

PlsNoMessage se (588)
Friday July 13, 2012, 5:30 am
Hmmmm, never liked Mitt............
 

Barbara K (62)
Friday July 13, 2012, 5:31 am
BTW, I watched this on MSNBC last night, Rachel covered it quite well, and I do believe he is guilty of a Felony, but justice moves mighty slow any more. Thanks, my friend, for posting.
 

paul m (93)
Friday July 13, 2012, 6:12 am

If he's so much trouble....Then dump him ,,you can always find another clown...
 

(0)
Friday July 13, 2012, 6:41 am
Now, Kit. You know Romney would never tell a lie. He is a Mormon, and the Mormon church would take away his God-ship,lol! Then he would lose all his power and just go back to being plain old Mitt, the waffler!
 

Craig Pittman (52)
Friday July 13, 2012, 7:11 am
If these allegations are confirmed as they appear to be then the man should be charged. I am not familar with the U.S. constitution on such matters but hmmm can a presidential candidate remain in the race while serving time in prision? It will be interesting to see damage control on this one as Romney ducks, bobs, and weaves.
 

Gene J (289)
Friday July 13, 2012, 7:20 am
Rachel Maddow had a wonderful piece on this last night on her show, she also interviewed the Boston Globe's Washington Bureau editor who said they are not issuing any kind of retraction since their story is true and provable. The absolute best part was this came out on the SAME day the Romney campaign released a new ad in swing states accusing the President of lying about the HCA. Which he didn't, but Mittens did in fact do. It will be interesting to see the damage control his campaign comes up with today following his "no media allowed' high priced dinner fund raiser with Dick Cheney last night. If my Senator Al Franken could update his book, Lies and the Lying Liars Who Tell Them, he'd have to include a whole new chapter for Mitt.
 

Vallee R (280)
Friday July 13, 2012, 7:32 am
Thanks Kit - always lying!
 

(0)
Friday July 13, 2012, 8:12 am
Oh, by the way. It's "flapjack Mitt" the waffler! I just did a post of a recent poll and guess what? Obama is killing Romney among minority voters!
 

TomCat S (123)
Friday July 13, 2012, 8:25 am
Then or now? It's obvious. Both.
 

Ioannes J (1)
Friday July 13, 2012, 9:00 am
Dirty Rotten Scoundrel of Romney and the gangs, Remind of Footprint of Bush Era on rerunning the White House and the World.

Bad poster child for future of American children telling them it GREAT to Lied, deceived, corruption and scam citizen without remorse and humanity.

BIG FLOOD/ QUAKE IS COMING TO CLEANING THE WORLD of IMHUMNAITY.
 

Gloria picchetti (304)
Friday July 13, 2012, 9:08 am
Mitt is a liar for all seasons.
 

Nancy M (147)
Friday July 13, 2012, 9:35 am
Honestly,. I could overlook a thing or two. Nobody is perfect. I like to think he might have learned something from his bullying others in HS or putting his dog on the roof of his car. The more and more we hear though, it is building a case that is not a good one.
 

Sheryl G (359)
Friday July 13, 2012, 9:41 am
MSNBC did a good job covering this last night with all of the hosts of the evening programs. I love it when the roaches are exposed. I can also see Ron Paul sitting on the sidelines just waiting for his turn to step up and push Mitt Romney aside. I'm not wanting Ron Paul either, but at least you KNOW where he stands on things. I also know at least Ron Paul will not get us into any more wars and will go after the Federal Reserve, he'd be the lessor of two evils on the Republican ticket.

With this banking scandal going down with libor and the Multi-Corporations being exposed for what they are, as with the Koch Brothers, Mitt kissing Cheney's ring last night, well I can't wait until they all start throwing each other under the bus. The LIARS, THEIVES, SCAM ARTIST, CON MEN, THE CROOKS, CRIMINALS of all types, I can't wait until they fall like Humpty Dumpty. That might be asking for too much but I'm hopeful.
 

Esther Z (94)
Friday July 13, 2012, 10:10 am
Noted. Romney is a confirmed liar; so for him lying is yesterday, today and every day!
As for committing a felony, we all know the big banks got away with taking our economy over the recession cliff, so Romney will probably get hit with absolutely nothing. Nada. Zilch!
 

Gene J (289)
Friday July 13, 2012, 10:14 am
If the SEC is right and this is a felony, then they must start the wheels turning for prosecution. I wonder if that would make him the first candidate to be prosecuted for a felony during a presidential campaign? I know it is too late to get a conviction before the election, but I just think it would be great fun if we did, because felon's can't vote, so he'd lose his own vote, lol. That would be fun. And the mainstream media will have to pick this story up, it is too big to ignore - it was front page news in the Boston Globe, it'll spread. The "spin" will be interesting indeed. Yeah, he was in Utah all that time. Of course, but filing false documents with the SEC, well, that will be someone else's fault, Mitt was gone, so someone at Bain made a mistake. That'll be their spin, question is how many will believe it? That they are stupid enough TO make a mistake like that I believe. That they did make a mistake I don't. I'd like to see his tax returns for those years to see how much income from Bain he declared, probably has them hidden in the Cayman's too...
 

Angelika R (143)
Friday July 13, 2012, 10:55 am
What a hilarious story, thanks Kit. And thanks to all for the valuable comments here, particularly from MJM.
May I add my CONGRATULATIONS for such a unique Presidential candidate!
And may I also add this petition for anyone who may not yet have seen and signed
Mitt Romney: Release Your Tax Returns
 

Robert B (55)
Friday July 13, 2012, 11:09 am
Kit, I couldn't send you a star. This is just priceless. Martha Stewart go 2 years in the slammer for only one simple lie. Now let's see if Mr. Mittens buys his way out of this. If he does, it will PROVE that the system is skewed in favor of wealthy white males. The Good OL Boys Club.
 

Terrie Williams (798)
Friday July 13, 2012, 12:21 pm
I'd be completely happy if they would just yank his US citizenship and ship him off to the Caymens.
 

Phil R (29)
Friday July 13, 2012, 12:46 pm
Mittens will probably declare that he "didn't remember" correctly about Bain and it was a mistake. All Republicans seem to have memory lapses and claim to be "out of the loop" when they get caught lying. It's been going on since Nixon.
 

Past Member (0)
Friday July 13, 2012, 1:10 pm
Liar, liar, pants on fire? Not while wearing these!

Magic Mormon Underwear or "garmies"
 

Sheryl G (359)
Friday July 13, 2012, 1:18 pm
We've reached 60% of our goal of 50,000 signers!
Please everyone sign the petition that Angelika left above.

He'll not serve time, if he thought he might do so he has so much money he'd fly off in some private jet to a Country he could be safe in and "buy" his comfort and protection. If I was Martha Stewart, I'd sure be making a few phone calls.
 

Yvonne White (229)
Friday July 13, 2012, 1:40 pm
Is Mitt a Felon or Just a Liar? Greedy One Percenters are SUCH Over-Achievers that they can be both!:) AND never be prosecuted the way "commoners" would be! Just look at all the Bu$h Leaguers running free..:(
 

Janet B (36)
Friday July 13, 2012, 2:33 pm
And the democrats do not lie? Yeah right! I think not!
 

Past Member (0)
Friday July 13, 2012, 2:49 pm
HA! It's not too surpising that a republicon would be oblivious to the distinction.

Janet, I'd call your comment shameless but it's more like par for the course.
 

Past Member (0)
Friday July 13, 2012, 3:09 pm
Janet, I see by your profile that you call yourself a liberal.? It's very surprising that a liberal can't see the distinction.

Let me rephrase my previous comment, your comment is shameless.
 

Past Member (0)
Friday July 13, 2012, 3:28 pm
Janet, I see you are a Mormon. Could it be that you are one of these wolves in liberal clothing? Or more precisely, in magic underwear?
 

Angelika R (143)
Friday July 13, 2012, 3:31 pm
Yvonne White writes:
"Greedy One Percenters are SUCH Over-Achievers that they can be both!"
"never mind the top 1 percent, we’re talking about the top 0.01 percent or higher
 

Nancy M (147)
Friday July 13, 2012, 3:44 pm
We've reached 78% of our goal of 50,000 signers!
 

. (0)
Friday July 13, 2012, 3:59 pm
MJ. You do not even know me! I vote how I feel is right for me! Black,white, Catholic, man or woman does not matter! He has had almost 3 years! Nothing is done! I want stuff done! Not constant vacations! For his wife to go to like Spain! Romney can afford his own vacations! So, I dot pay for them! Learn about my faith, and our magic underwear! Give me a break!
 

. (0)
Friday July 13, 2012, 4:04 pm
MY being Liberal does not mean being one way! I have opinions on all matters! I am not closed minded like you! I also am not a judge! So, dot judge me! By being a Mormon!
 

Christopher Fowler (82)
Friday July 13, 2012, 4:29 pm
Okay, so Romney is a liar.......what's the news there?

So Romney is a felon that is going to get away with his crimes......Where is the news in that?

Now if he were to be disqualified to run by right of his felonious behavior...now THAT would be news; and good news at that.

Not that I'm going to hold my breath for that, since I am still waiting for Bush Jr. and company to be held accountable for their crimes against the people and their war crimes.

But we can still dream.
 

Past Member (0)
Friday July 13, 2012, 4:33 pm
It would appear that Janet B has more than one identity. What do you suppose the reason for that is?

Morman, moron, 6 to 1, half a dozen to others. I see no distinction.
 

Past Member (0)
Friday July 13, 2012, 4:52 pm
Beats me Kit. Truthfully, I don't know how they do it. It's all I can do to handle this one!
 

Past Member (0)
Friday July 13, 2012, 5:18 pm
Janet B, or should I call you (.) ? You say you're not 'close minded like me'??? That's rich. Doesn't your morman faith demand a vault door and a lost combination?

ME close minded?? Hell, it's all I can do to keep from spilling the contents all over the floor!
 

Past Member (0)
Friday July 13, 2012, 5:52 pm
Thanks Kit.....I think? ;-)
 

Dee C (229)
Friday July 13, 2012, 6:55 pm
Thanks Kit for posting this..Of course as you know by now he has denied it all..(no surprise there) and he is demanding an apology from Obama..(How typical)

Thanks for the petition Angelika..

Signed & noted..
 

Brad Miller (120)
Friday July 13, 2012, 6:58 pm
Now Mitttt wants an apology?Apology!?!? If I were Barack, it would be; "Kiss my shiny black ass!" Privately of course. With utmost plausible deniability. ;^)
 

Past Member (0)
Friday July 13, 2012, 7:47 pm
Ya know Brad, a public display of some balls might be the better vote getter. But, shiny black ass works for me.
 

Mary L (132)
Friday July 13, 2012, 8:05 pm
It's an old rule but true, you can always tell when a politician is lying, the lips are moving.
 

Caitlin M (104)
Friday July 13, 2012, 10:16 pm
If y'all think the 1% are going to let him go down, y'all are dreaming. He could lie about his eye color and he'd get away with it. I'd love to see him go straight to jail without collecting $200, too. But it ain't gonna happen.... But I do hope I'm wrong.
 

Susanne R (236)
Friday July 13, 2012, 10:25 pm
Thanks for providing the link to the petition, Angelika, which I was very pleased to sign! Can't send you a star yet, but I do send my thanks!
 

Angelika R (143)
Saturday July 14, 2012, 6:07 am
Here's that link again to spare you scrolling up: "Mitt Romney: Stop hiding. Release your tax returns back to 1999."

And it looks as though Janet/Paul has left this thread...
 

Janelle Wong (71)
Saturday July 14, 2012, 6:42 am

FORTUNE -- Mitt Romney did not manage Bain Capital's investments after leaving to run the Salt Lake City Olympic Games, according to confidential firm documents obtained by Fortune.

The timing of Romney's departure from Bain became a lightning rod earlier today, when The Boston Globe published an article suggesting that Romney remained actively involved with the firm longer than he and his campaign have claimed. The sourcing is largely SEC documents that list Romney as Bain Capital's CEO and sole shareholder through 2002 -- or three years after Romney officially left to run the Salt Lake City Olympic Games.

These claims are very similar to ones made last week by David Corn in Mother Jones, which we disputed at the time.

Now Fortune has obtained new evidence that supports Romney's version of events.

Bain Capital began circulating offering documents for its seventh private equity fund in June 2000. Those documents include several pages specifying fund management. The section begins:


Set forth below is information regarding the background of the senior private equity investment professionals of Bain Capital. Also listed are certain investment professionals responsible for the day-to-day affairs of the Brookside and Sankaty funds, which are affiliated funds of Fund VII.

It then goes on to list 18 managers of the private equity fund. Mitt Romney is not among them. Same goes for an affiliated co-investment fund, whose private placement memorandum is dated September 2000.

Then there is Bain Capital Venture Fund -- the firm's first dedicated venture capital effort -- whose private placement memorandum is dated January 2001. Romney also isn't listed among its "key investment professionals," or as part of its day-to-day operations or investment committee.

All of this could prove problematic for the Obama campaign, which has spent the day crowing over the Globe story (going so far as to hold a media call about it).

"When Mitt Romney ran for governor and now as he's running for president, he consistently claimed he could not be blamed for bankruptcies and layoffs from Bain investments after February 1999 because he departed for the Olympics," said Obama spokeswoman Stephanie Cutter, according to the Globe. "Now, we know that he wasn't telling the truth."

But the contemporaneous Bain documents show that Romney was indeed telling the truth about no longer having operational input at Bain -- which, one should note, is different from no longer having legal or financial ties to the firm.

As Fortune wrote earlier, Romney left Bain suddenly -- rather than as part of an organized transition plan -- after being asked to lead an Olympic organizing committee that had spiraled out of control. Moreover, it was unclear in February 1999 if Romney's leave of absence would be permanent, or if he would return (as he had in 1994, after losing a U.S.Senate race to Ted Kennedy). He didn't formally give up his title and firm ownership until 2002, once the Games had been successful and he was interested in other elective office. In the interim, he continued to fulfill legal obligations such as signing certain documents -- but actual investment and managerial decisions were being made by others.

After being informed of the Bain Capital documents, Obama spokesman Ben LaBolt emailed over the following statement:


"Mitt Romney either misled the American people or misrepresented himself to the SEC. Romney has said he had no authority or responsibility for managing Bain since 1999, but that has been proven false. Regardless of whether he was on the management committee for this particular deal, he remained President, CEO, and Chairman of the Board and he was legally responsible for every investment and decision made by Bain."
 

Sheryl G (359)
Saturday July 14, 2012, 6:58 am
Please watch this video.....there are legal papers that show he was in fact with Bain and receiving income after 1999.
Legal Papers With Mitt's own Signature

“You can verbally deny the uncomfortable facts, and do it repeatedly, but your words and signature are in black and white, sir.” Jennifer Granholm
 

Janelle Wong (71)
Saturday July 14, 2012, 7:12 am
Did Mitt Romney Exit Bain Capital in 2002 or 1999? (click here)
 

Past Member (0)
Saturday July 14, 2012, 8:13 am
You republicon saps just don't get it. Romney can't lie his way out of this one. He's TOAST!
The truth is in writing. Even the best lawyers money can buy won't save this creep.
 

Past Member (0)
Saturday July 14, 2012, 8:36 am
Oh, what a tangled web we weave,
When first we practise to deceive!


 

Past Member (0)
Saturday July 14, 2012, 8:41 am
You'd think that Sir Walter Scott would know how to spell 'practice'.


 

Janelle Wong (71)
Saturday July 14, 2012, 9:22 am
"(Americans) expected more from this president. He was the one that talked about a post-partisan presidency, changing the way politics works, changing the way Washington works. And I think people assumed he would make it better," Romney said. "But instead, with the kinds of attacks that he's been launching over the last several weeks, he's been making it worse and people recognize that."
 

Past Member (0)
Saturday July 14, 2012, 9:35 am
Janelle, you poor clown. Why is it you think that slamming the President is going to take the heat off your boy?
 

Sheryl G (359)
Saturday July 14, 2012, 9:41 am
Whatever Obama has done or hasn't done doesn't excuse Mitt Romney from what this article is about. This article after is IS about Mitt Romney, Bain, and HIS legal documents. Don't push the topic off onto someone else, this is about whether Mitt Romney is telling the truth, if he is a worthy candidate. HIS credibility has nothing to do with Obama or what Obama is doing or not doing.
 

Past Member (0)
Saturday July 14, 2012, 9:46 am
Does anyone else remember Judy Chong from that one episode of Seinfeld? Everyone thought she was something she wasn't. Just sayin.
 

Past Member (0)
Saturday July 14, 2012, 9:48 am
Thank you Sheryl for that dose of reality.
 

Janelle Wong (71)
Saturday July 14, 2012, 10:29 am

Obama Fibbed In The Past And Now Again. (click here)
 

Janelle Wong (71)
Saturday July 14, 2012, 10:38 am
We now have 8.2% unemployment, soaring federal spending, $700 million in new health insurance mandate taxes and an anti-success attitude in this country since Obama took office.

Are we better off than we were 4 years ago?

Being Conservative
 

Janelle Wong (71)
Saturday July 14, 2012, 10:51 am
Excuse Romney? Obama is the one who should hope that he's excused for his mismanagement of our economy. Even if Romney was culpable, which he is not, that doesn't hold a candle to what Obama has done to this nation. Get real.
 

Past Member (0)
Saturday July 14, 2012, 10:55 am
Sorry troll, the smokescreen isn't working.

I mean, when lies that are on such a pathological scale, meets arrogance unequaled, the outcome is no mystery. Stick a fork in him, Willard’s done.
 

Janelle Wong (71)
Saturday July 14, 2012, 11:10 am
FactCheck.org: ObamaCare Is Actually Making Health Care “Less Affordable.” “At the moment, the new law is making health care slightly less affordable. Independent health care experts say the law has caused some insurance premiums to rise. As we wrote in October, the new law has caused about a 1 percent to 3 percent increase in health insurance premiums for employer-sponsored family plans because of requirements for increased benefits. Last year's premium increases cast even more doubt on another promise the president has made -- that the health care law would 'lower premiums by up to $2,500 for a typical family per year.’”
 

Janelle Wong (71)
Saturday July 14, 2012, 11:14 am
PROMISE: Obama Promised His Plan "Would Save The Average Family $2,500 On Their Premiums." (Sen. Barack Obama, Remarks Of Senator Barack Obama's Plan To Fight For Working Families And Take On Special Interests In Washington, Indianapolis, IN, 6/20/08)
 

Sheryl G (359)
Saturday July 14, 2012, 11:23 am
Here we go, a link about Obama below.....one of PinkMindy's. I'm sure she and the readers would be delighted if you add the new addtional information.
Don't Believe In Obama Fairytales Anymore
Personally, I'm voting for 3rd Party, so I've got no horse in this race, but I do call out Romney on this. I don't feel just because you have a lot of money and are buddies to all those who robbed this Nation blind should get a free pass on this. He needs to come clean on it, he has spoken out of both sides of his mouth. He can't have it both ways. The American people have the right to know the truth on the matter before they vote for him into the highest Office.

But Romney's been allowed to talk out of both sides of his mouth, the Etch A Sketch man, however this is serious and he needs to resolve it, in particular as he is running for the highest office in the land. Bringing up Obama's unemployment record when the Republican Congress has stood roadblocking everything he tried to do in that area, including their last fillabuster that would of helped small business and created jobs, does not have anything to do with the topic of Mitt Romney and his time at Bain.

Are we any better than 4 years ago? For the average citizen most can say no. The ultra rich can say yes. But it is not due to any singular person. We can point to Congress, the House, that block so much from even reaching the President. We can still put blame at the Banksters and Wall St. that are still doing as they want to do, we have libor now that is making the news, and we have Corporations that refuse to spend the big profits make by hiring people at living wages. Why hire people when you can snap the whip and make your minimum wage workers run twice as fast and hire workers in VietNam, China, or where-ever for little more than $1 a day. Until everyone gets with the program, and more people push our Elected Officials to do the correct things we will have this prolonged mess. Is one of the reasons I'm going 3rd Party, this two party crap doesn't seem to be getting us anywhere, so I don't know, maybe another Party biting at both existing Parties heels might smarten them all up.

In meantime we have some intelligent people in our Country, if enough people would listen to them, perhaps those on this thread would consider signing this petition.
Petition Elizabeth Warren's Economic Plan
 

Janelle Wong (71)
Saturday July 14, 2012, 11:38 am
Finally, an intelligent post. Thanks Dandelion.
 

Sheryl G (359)
Saturday July 14, 2012, 11:47 am
"Obama is the one who should hope that he's excused for his mismanagement of our economy."
Scapegoating

"Even if Romney was culpable, which he is not,"

Well, unless you have done his taxes, or are a psychic, I don't think that the verification has been completed and therefore still unreolved. In fact, the documents that have been exposed along with video, are stating otherwise. This is video with Romney's own words and documents with Romney's own signature. So I'm not sure why we keep changing the subject here......this news is about Romney.

Romney.....

Romney....Topic is Romney.
 

Past Member (0)
Saturday July 14, 2012, 11:54 am
PinkMindy's racism is a cloud that obscures any truths she might utter.
 

Janelle Wong (71)
Saturday July 14, 2012, 11:58 am
The underlying subject is who is best qualified to be elected president. Actually it's which of the two candidates is least qualified. Most people are voting against Obama versus for Romney. So bashing Romney is a Non sequitur. MJ M and Kit B. consult your dictionary.
 

Sheryl G (359)
Saturday July 14, 2012, 12:13 pm
Thanks Janelle, all I'm trying to say is we need to stop this back and forth and come together as Americans. I feel a lot of things have been allowed to run amuck and this falls back onto a lot of people, including the American voters; who have allowed things to carry on for far too long.

But when a thread is discussing one individual, let us air out what it is, not go to pointing at someone else who doesn't have anything to do with topic in question. If the topic was, Who do you think would do a better job with the economy Mitt Romney or Obama, then that is one thing, but this thread was about a serious situation concerning Romney. I'm tired of the crooks and liars holding office, I don't care what seat they sit in or what Party flag is in their hand, blue or red. If Romney is not being truthful then I'd rather have Ron Paul run on the Republican ticket, I may not like all he stands for, but at least I know where he stands, and he is consistant in his stand.

As for PinkMindy, yes, her racism speaks volumns and I have been on her threads for the videos that have been spliced together that make it seem that Obama is saying one thing on a subject when you can see the splicing and the head jerking. I've seen out-takes of speeches I know of Obama's and knew immediately that the video took it out of context, and I call her on it, or at least point out the video she selected is not of good quality.

Once in awhile she actually finds a "news worthy" story on Obama, and that is fine, I believe in showing the warts and the good of all those who are running for office or holding office. But I hate made up crap and I want the people to come clean, as in what is being asked of Romney. Things are not looking logical or correct here, and there are too many people that are not buying his...."just trust me on this one"......he has proven himself by the "world of video", as one can go back and check, that he does not speak truthfully in all places, so he really needs to clean this up, and leave no doubts in the American peoples minds, thus far he hasn't done that.
 

Past Member (0)
Saturday July 14, 2012, 12:15 pm
Janelle, maybe you should consult your psychiatrist.
 

Janelle Wong (71)
Saturday July 14, 2012, 12:19 pm
Spot on Kit B. Obama not only hasn't been able to fix things in almost four years, he's actually made them worse. That's probably why Dandelion is going to vote third party. Wake up to reality.
 

Past Member (0)
Saturday July 14, 2012, 12:40 pm
See Dandelion what happens when you give these people even an ounce of respect? They'll twist your words and thoughts into something resembling PinkMindy's videos.
 

Janelle Wong (71)
Saturday July 14, 2012, 12:47 pm
MJ B, do you ever post anything showing a bit of intelligence?
 

Past Member (0)
Saturday July 14, 2012, 1:13 pm
Jannelle, you exhibit symptoms of the classic Dunning-Kruger Effect.

When Ignorance Begets Confidence

Sigmund Freud explains the Republican Brain
 

Past Member (0)
Saturday July 14, 2012, 1:15 pm
Janelle, it doesn't take an Einstein to see through you/
 

Past Member (0)
Saturday July 14, 2012, 1:22 pm
Tragic news about the premature decline and death of retired football players has led many Americans to draw the obvious conclusion: decades spent bashing people with your skull will produce serious brain injury. Considering this, why don't Republicans understand that years spent bashing their heads against reality inevitably produces the same result: diminished capacity and dementia?
 

Janelle Wong (71)
Saturday July 14, 2012, 1:24 pm
That's the most you can muster?
 

Past Member (0)
Saturday July 14, 2012, 1:51 pm
I'm sorry Janelle, it appears that even the slightest intelligence is lost on you.

 

Janelle Wong (71)
Saturday July 14, 2012, 1:55 pm
Indeed! It's soooo slight that it's neigh unto invisible. But keep trying.
 

Brad Miller (120)
Saturday July 14, 2012, 2:33 pm
This is priceless! No Apology:
http://sphotos-b.xx.fbcdn.net/hphotos-ash4/311598_447894035231808_1239843824_n.jpg
 

Past Member (0)
Saturday July 14, 2012, 3:54 pm
No Apology
 

Nancy M (147)
Saturday July 14, 2012, 4:18 pm
"If y'all think the 1% are going to let him go down, y'all are dreaming." Caitlin M

I think this is the truest statement here. Unfortunately.
 

Angelika R (143)
Saturday July 14, 2012, 6:11 pm
Rachel Maddow mocks Romney's interviews

pretty nice show-lol
 

Kerrie G (116)
Sunday July 15, 2012, 6:50 am
Noted, thanks.
 

Past Member (0)
Monday July 16, 2012, 12:07 am
The Romney 'Fact-Checking' Scandal

Self-styled "independent fact-checkers" at the Annenberg Center and the neoconservative-dominated Washington Post have positioned themselves as ardent defenders of Mitt Romney's claims that his Bain Capital tenure ended in 1999 despite questions raised by contradictory information submitted by Romney himself.

Indeed, the behavior of these "fact-checkers" is rapidly becoming the journalism scandal of Campaign 2012 as the likes of Brooks Jackson at Annenberg's FactCheck.org and the Post's Glenn Kessler act more as querulous lawyers protecting Romney than as journalists seeking the actual facts surrounding Romney's curious business narrative.

Much as the Post's Ceci Connolly and the New York Times' Katharine Seeyle engaged in aggressive - and dishonest - journalism to portray Vice President Al Gore as a serial liar during Campaign 2000, Jackson and Kessler are performing a similar role in portraying President Barack Obama and his campaign officials as liars now. [For the history, see Consortiumnews.com's "Al Gore v. the Media" or Neck Deep.]

Yet, despite the pro-Romney protectiveness from Jackson and Kessler, the questions raised by the Obama campaign and a number of journalists about Romney's dubious claims are clearly legitimate. These questions about whether Romney completely divorced himself from his venture capital firm when he rushed off in February 1999 to head the Winter Olympics stem, in large part, from public disclosures that Bain Capital filed with the Securities and Exchange Commission.

For instance, one summary of Bain investments via Bain Capital Fund VI, dated Feb. 13, 2001, lists Romney as "the sole shareholder, sole director, Chief Executive Officer and President of Bain Capital and thus is the controlling person of Bain Capital."

Yet, in his presidential campaign disclosure form in 2011, Romney declared that he "has not been involved in the operations of any Bain Capital entity in any way" after leaving Boston for Salt Lake City, Utah, and the Olympics job on Feb. 11, 1999. Jackson and Kessler treat Romney's bald assertion as fact despite the conflicting evidence.

There are also logical questions that any journalist worth his or her salt would ask: "Mr. Romney, does your claim mean you had no contact with your former Bain associates by telephone, e-mail or in person in that time frame? Did you really build a Chinese Wall between yourself and your company?"

Common sense would tell you that Romney did have conversations with his long-time subordinates. There was no legal reason not to, and he was involved enough to sign some of the SEC forms listing him as the person in charge. (Only later, after it became clear that Bain-related plant closings and job outsourcing after February 1999 were a political liability, did Romney start insisting that his separation had been total.)

If Romney now confirms that he had some contacts with Bain executives, the next questions would be when, what, why and with whom. Are there e-mail messages or memos that could be examined? So, instead of offering those kinds of details, he cites the work of these "independent fact-checkers" to shield him from the inquiries.

TV Excuses

It was a startling aspect of Romney's brief round-robin interviews with five TV networks on Friday that he was allowed to skate away with squirrelly responses to these questions.

For instance, in the NBC interview, correspondent Peter Alexander asked, "after February 1999 you never attended a single meeting for Bain, a business meeting, even by phone, attending a meeting regarding Bain or Bain-controlled entities?"

Calm and collected with a patronizing smile on his face, Romney responded: "You've got quite a few questions there, so let's go through them. I didn't involve myself in any way with Bain Capital's enterprise after February 1999."

Alexander followed up: "Not participating in a single meeting either in person or by phone?"

Romney answered: "I can't recall a single meeting or a single participation in an investment decision by Bain or personnel decision."

Even if Romney's answer could be technically true - and it contradicts what Romney told the Boston Herald when he headed off to Utah with his stated intent to "stay on as a part-timer with Bain, providing input on investment and key personnel decisions" - there are many other business-related topics not covered by Romney's narrow denial.

Romney also is hair-splitting when he references Bain "entities" in his federal campaign disclosure. While the average reader might think Bain's investments would fall under this "entities" rubric, Romney apparently is excluding his board membership on behalf of Bain at companies in which Bain held major interests, such as Staples and LikeLife.

On that point, Annenberg's FactCheck.org bends over backwards into a protective crouch for Romney, saying, "We think the term 'Bain Capital entity' on Romney's disclosure forms could only refer to Bain's various investment funds, not to companies in which it invested." Gee, how understanding of you!

Missing Hours

These "independent fact-checkers" also show little curiosity about discrepancies over how much time Romney was allegedly working during this time period.

FactCheck.org accepted self-serving accounts about Romney working 16-hour days, seven days a week, after he arrived in Salt Lake City. But Kessler instead cites Romney's statement to a Massachusetts election board that - as head of the Winter Olympics - he "worked, on average, over 12 hours per day, 6 days per week." One might wonder where the missing 40 or so hours went.

But the two "fact-checking" teams appear more interested in shutting off lines of inquiry about Romney's work at Bain Capital than in getting to the bottom of the many mysteries. Kessler even takes the position that it's no big deal to file false SEC forms.

"There is a journalistic convention that appears to place great weight on 'SEC documents,'" Kessler wrote. "But these are public filings by companies, which usually means there are not great secrets hidden in them. The Fact Checker [i.e. Kessler], in an earlier life covering Wall Street, spent many hours looking for jewels in SEC filings."

Though it's hard to judge how inept Kessler was in examining SEC documents, I spent four years editing securities-regulation coverage for Bloomberg News and some of our reporters were quite adept at mining the filings for nuggets. It's also an area where companies must tell the truth, with minimum spin, or face serious consequences.

Many corporate executives, at places like Enron and WorldCom, went to jail, in part, for filing false or misleading disclosure documents. It is indeed a potential felony to knowingly sign and submit SEC records with materially false information, such as telling potential investors that a person is in charge when the person is not in charge.

One of the "great secrets" hidden in SEC filings should not be that the guy listed as CEO isn't really the CEO.

Whether a criminal case can be built upon Bain Capital's admittedly false filings may be open to question - given statutes of limitations and other issues - but it's hard to understand how "fact-checkers" would take such a forgiving view of a politician signing false and misleading documents.

What does it say about Mitt Romney that he would repeatedly sign legal documents that contained information that he knew to be untrue - and why would "fact-checkers" defend him for doing so.

But FactCheck.org's Jackson and the Post's Kessler treat these transgressions with a "boys will be boys" casualness, almost as if one is supposed to rally to the defense of well-bred white men who run powerful private-equity firms and have lots of money.

Kessler wrote that he "concluded that much of the language saying Romney was 'sole stockholder, chairman of the board, chief executive officer, and president' was boilerplate that did not reveal whether he was actually managing Bain at the time." Yet, whether "boilerplate" or not, the filings were false and/or misleading.

Kessler even adds that "there is no standard definition of a 'chief executive,' securities law experts say, and there is no requirement for anyone to have any responsibilities even if they have that title." Oh, really? Here's how Investopedia (a reference source that Kessler has cited in the past) defines a "chief executive officer":

"The highest ranking executive in a company whose main responsibilities include developing and implementing high-level strategies, making major corporate decisions, managing the overall operations and resources of a company, and acting as the main point of communication between the board of directors and the corporate operations. The CEO will often have a position on the board, and in some cases is even the chair."

To claim repeatedly over a period of more than two years that someone was the CEO - and thus the "controlling" person - if that were not true represents what many securities regulators would call a "material" deception.

Though Bain did file some documents without reference to Romney, as Kessler notes, that does not and should not absolve the firm or Romney from responsibility for filing others with what they now say is false information.

A Different Tone

While devising endless excuses for Romney and his Harvard Business School buddies, these same "independent fact-checkers" heap scorn on the African-American president and his campaign for daring to raise these impertinent questions about the much-admired Romney.

Annenberg's FactCheck.org mocked a six-page letter from Obama's campaign with the flippant response, "your complaint is all wet." In giving Obama "three Pinocchios" for pointing out the discrepancies in Romney's Bain story, Kessler said he spared Obama a fourth Pinocchio (a total "whopper") with the grudging admission that "there is grey area" regarding Romney's last few years at Bain Capital.

In a larger sense, however, this issue of exactly when Romney left Bain is a ruse, a diversionary line of defense that Romney has been building since he ran for Massachusetts governor in 2002. The reason for this ever-expanding moat is that it lets Romney deny responsibility for Bain-related plant closings and off-shoring of jobs that occurred from 1999 to 2002.

But the key question is not when Romney left but who set in motion the strategies that led to the plant closings and the job off-shoring. It was Romney who pulled the trigger on investments in companies whose business model involved facilitating these actions for other companies.

For instance, as Washington Post investigative reporter Tom Hamburger explained in a front-page story on June 21, Romney's venture capital firm "owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components."

In other words, Bain Capital wasn't just investing in companies that shipped jobs overseas themselves, Bain owned companies that were trailblazing the practice of outsourcing American jobs to low-wage companies like China and India. The story said:

"A Washington Post examination of securities filings shows the extent of Bain's investment in firms that specialized in helping other companies move or expand operations overseas. …

"Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field."

A Lucrative Foray

As Hamburger reported, "Bain's foray into outsourcing began in 1993 when the private equity firm took a stake in Corporate Software Inc., or CSI, after helping to finance a $93 million buyout of the firm. CSI, which catered to technology companies like Microsoft, provided a range of services including outsourcing of customer support. Initially, CSI employed U.S. workers to provide these services but by the mid-1990s was setting up call centers outside the country.

"Two years after Bain invested in the firm, CSI merged with another enterprise to form a new company called Stream International Inc. Stream immediately became active in the growing field of overseas calls centers. Bain was initially a minority shareholder in Stream and was active in running the company, providing 'general executive and management services,' according to SEC filings. …

"The corporate merger that created Stream also gave birth to another, related business known as Modus Media Inc., which specialized in helping companies outsource their manufacturing. … Modus Media grew rapidly. In December 1997, it announced it had contracted with Microsoft to produce software and training products at a center in Australia. Modus Media said it was already serving Microsoft from Asian locations in Singapore, South Korea, Japan and Taiwan and in Europe and the United States."

All those events occurred while Romney acknowledges that he was the hands-on CEO at Bain Capital. Hamburger also describes continuation and expansion of these outsourcing activities after February 1999. But those activities were simply an extension of what Romney had started.

To pretend that there was some bright line between the "good" Bain Capital before February 1999 and the "bad" Bain Capital afterwards is downright silly. It is even sillier for "independent fact-checkers" to suggest that Romney had no responsibility for what his own company did.

If these supposed "fact-checkers" really cared about facts, perhaps they would use their new status as Romney's favorite defenders to ask the Republican presidential candidate to release Bain Capital's internal records that would show whether he did or did not have any contacts with his subordinates after February 1999.

The "fact-checkers" might also press him to release his tax returns. So far, all they have done is throw brickbats at others who have tried to raise questions regarding the vetting of a man who wants to be President of the United States but doesn't want to tell the American people much about how he earned his money or even where it is.
 

Angelika R (143)
Monday July 16, 2012, 3:01 am
Typical example of your corrupt media. Here's 10 "Pinocchios" each for "all wet" rant to both, Annenberg and the W. Post.
 

Past Member (0)
Monday July 16, 2012, 3:21 am
For these 'journalists', I know where I'd like to put those 10 "Pinocchios".
 

Past Member (0)
Monday July 16, 2012, 6:05 pm
Romney’s knockout blow is coming very soon. Some Republicans are saying it will be when he selects Sarah Palin for VP.
 
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