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The testimony Romney prefers to forget
The testimony Romney prefers to forget
By Steve Benen
Much of yesterday's controversy surrounding Mitt Romney's work at Bain Capital comes down to a very narrow question. Both sides agree that Romney was a well-compensated CEO of his firm from 1999 to 2002. Both sides agree that Bain orchestrated controversial investments, layoffs, and bankruptcies during that time.
But while Romney's critics say he's responsible for the actions of his company, Romney's defenders say the buck stops somewhere else -- he may have been Bain's sole stockholder, chairman of the board, chief executive officer, and president, but he didn't really do any real work. Indeed, the argument goes, he wasn't even there.
Rachel played a clip last night from Romney's 2002 gubernatorial campaign in which he said of the time period in question, "I was in Utah full time. I had no responsibility for management at Bain Capital."
Overnight, new reports call these claims into further question.
<...>
Politico reported overnight that the Romney campaign, when asked if Romney attended meetings and/or had contact with Bain between 1999 and 2002, "declined" to answer.
Oops.
- more -
http://maddowblog.msnbc.msn.com/_news/2012/07/13/12720853-the-testimony-romney-prefers-to-forget
By Steve Benen
Much of yesterday's controversy surrounding Mitt Romney's work at Bain Capital comes down to a very narrow question. Both sides agree that Romney was a well-compensated CEO of his firm from 1999 to 2002. Both sides agree that Bain orchestrated controversial investments, layoffs, and bankruptcies during that time.
But while Romney's critics say he's responsible for the actions of his company, Romney's defenders say the buck stops somewhere else -- he may have been Bain's sole stockholder, chairman of the board, chief executive officer, and president, but he didn't really do any real work. Indeed, the argument goes, he wasn't even there.
Rachel played a clip last night from Romney's 2002 gubernatorial campaign in which he said of the time period in question, "I was in Utah full time. I had no responsibility for management at Bain Capital."
Overnight, new reports call these claims into further question.
Mitt Romney's repeated claim that he played no part in executive decision-making related to Bain Capital after 1999 is false, according to Romney's own testimony in June 2002, in which he admitted to sitting on the board of the LifeLike Co., a dollmaker that was a Bain investment during the period.
Romney has consistently insisted that he was too busy organizing the 2002 Winter Olympics to take part in Bain business between 1999 and that event. But in the testimony, which was provided to The Huffington Post, Romney noted that he regularly traveled back to Massachusetts. "[T]here were a number of social trips and business trips that brought me back to Massachusetts, board meetings, Thanksgiving and so forth," he said.
Romney's sworn testimony was given as part of a hearing to determine whether he had sufficient residency status in Massachusetts to run for governor.
Romney has consistently insisted that he was too busy organizing the 2002 Winter Olympics to take part in Bain business between 1999 and that event. But in the testimony, which was provided to The Huffington Post, Romney noted that he regularly traveled back to Massachusetts. "[T]here were a number of social trips and business trips that brought me back to Massachusetts, board meetings, Thanksgiving and so forth," he said.
Romney's sworn testimony was given as part of a hearing to determine whether he had sufficient residency status in Massachusetts to run for governor.
<...>
Politico reported overnight that the Romney campaign, when asked if Romney attended meetings and/or had contact with Bain between 1999 and 2002, "declined" to answer.
Oops.
- more -
http://maddowblog.msnbc.msn.com/_news/2012/07/13/12720853-the-testimony-romney-prefers-to-forget
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