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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMore Bain pain for Mitt Romney
by Jed Lewison
Two big stories about Mitt Romney and Bain should be causing him and his campaign a ton of heartburn today. First, the Boston Globe has joined the chorus of those who are calling baloney on Mitt Romney's claim to have left Bain Capital in February of 1999. The headline tells the story pretty well:
I guess traditional media doesn't feel comfortable saying "Mitt lied," but one way or the other, that's what we've got here. Mitt Romney and Bain Capital told investors that he was running the firm as late as 2002. They subsequently created a severance package retroactive to February 1999, but that doesn't change the fact that in 2002, Romney still claimed he ran Bain. Now he claims he didn't. Either he was lying then or he's lying now. Either way, he's lying.
But the Boston Globe story isn't Romney's only problem today. David Corn, whose reporting for Mother Jones set the stage for the Globe story, breaks another big story: In 1998, Mitt Romney invested millions in a Chinese firm whose business model was to help U.S. companies outsource jobs into China.
At the time Romney was acquiring shares in Global-Tech, the firm publicly acknowledged that its strategy was to profit from prominent US companies outsourcing production abroad.
Not only was Romney still at Bain according to his own timeline during this investment, but after making his initial investment, he soon split the holdings between Brookside and Sankaty High Yield Investorsthe secretive Bermuda shell company that Romney failed to disclose in his financial disclosure forms but that appears in his 2010 tax returns.
- more -
http://www.dailykos.com/story/2012/07/12/1108965/-More-Bain-pain-for-Mitt-Romney
spanone
(135,873 posts)uponit7771
(90,364 posts)...or claiming management fees.
Martha Stewart was put in jail for less than this....
We'll see what the SEC will do with Rmoney
GarroHorus
(1,055 posts)Remember, McCain fully vetted Romney's tax returns.
I'm thinking Romney may not only lose the election, but could be facing charges over this.
ProSense
(116,464 posts)cbdo2007
(9,213 posts)He's irrelevant at this point, he already lost.
More like "Time to question Romney" in front of Congress and the American people.
msanthrope
(37,549 posts)and say something revealing....
Voice for Peace
(13,141 posts)ProSense
(116,464 posts)When he surfaces, he will likely be asked about it.
glowing
(12,233 posts)could be an arrest or something along those lines. However, if there is criminal activities that would lead to some nasty business for Mitt rMoney, they probably would want to make it past the convention before pulling any triggers that could herald in a new nominee....
Sheepshank
(12,504 posts)backscatter712
(26,355 posts)Yeah, Rmoney's got some 'splaining to do!