Sunday, 15 July 2012

Romney Caught Lying by SEC Forms: He was CEO, President, Chairman and Owner of Bain When He Claims He Wasn't

If running a successful campaign is largely keeping your opponent on the defensive, then Mitt Romney is in the political dog house - and it's his own fault, because he lied.

Let's step back up a second. The Obama campaign ran ads a short time ago and accused Romney of investing in firms that resulted in outsourcing jobs and increasing unemployment in the US. Romney claimed he was not responsible for his Bain vulture capital firm when this activity was taking place because he had left the company.

However, the Boston Globe revealed today (based on earlier stories in Talking Points Memo and Mother Jones):

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 (SEC) 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

[Posted at the SpookyWeather blog, July 15th, 2012.]

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