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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOBAMA TEAM: Romney Committed A FELONY OR LIED To Voters
" Mitt Romney either lied in federal filings that show he worked at Bain Capital through 2002 and could be guilty of a felony, or has lied to the American people in saying he left the company in 1999, the Obama campaign is arguing in light of news reports on the firm’s filings with the Securities and Exchange Commission. “This is serious business,” said Bob Bauer, the Obama campaign’s counsel, in a conference call for reporters coming after the Boston Globe published a story Thursday that calls into question the timeline of Romney’s involvement of the firm that the Republican candidate has been promulgating for years. Deputy campaign manager Stephanie Cutter laid out the issue as the Obama team sees it: “Either Mitt Romney, through his own words and his own signature, was misrepresenting his position at Bain to the SEC, which is a felony."
"Or," she said, "he was misrepresenting his position at Bain to the American people to avoid responsibility for some of the consequences of his investments,” including layoffs and the outsourcing of jobs. If the latter is true, she said, it’s a “real character and trust issue” that voters should be aware of as they decide who to vote for in the presidential election. If Romney was still at Bain through 2002, he's also "politically responsible for the consequences" of deals that the firm made through then. Andrea Saul, the Romney campaign's press secretary, countered that the Globe's "article is not accurate" because"[a]s 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."
The emergence of the SEC filings appears to conflict with that, the Obama campaign contends. There are “literally scores of filings that make it very, very clear that over a period of time that Gov. Romney claims that he was not active with Bain, the Securities and Exchange Commission was informed” that Romney was the chief executive officer, chairman of the board and sole shareholder of the company, Bauer said. SEC filings "are very carefully scrutinized by lawyers because of the very severe consequences that follow from making statements to the Securities and Exchange Commission that are not correct," he said. And if that's the case, and Romney's role in the firm was misrepresented in filings, "in the normal course would subject somebody in this position to every manner of investigation with all the consequences that you can imagine would follow."
People who interacted with Romney at Bain between 1999 and 2002 -- and who would corroborate the storyline suggested by the SEC filings -- haven't emerged. Nor have documents or other details that would suggest Romney has been lying about when he left the company. But, Bauer hinted, there might be new developments to come. “I would stay very much tuned on that,” he said.
cont'
http://www.politico.com/politico44/2012/07/obama-team-romney-committed-a-felony-or-lied-to-voters-128757.html
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rufus dog
(8,419 posts)Never back down.
Segami
(14,923 posts)followed by a devastating right cross knockout!
CanonRay
(16,171 posts)with the "it isn't working" meme.
myrna minx
(22,772 posts)
patrice
(47,992 posts)Chris Christie.
Booster
(10,021 posts)I don't think a lot of politicians are going to want to risk their political future by signing on with him.
patrice
(47,992 posts)
FSogol
(47,623 posts)and become the GOP's front runner in 2016 after Mitt loses.
GarroHorus
(1,055 posts)Either way, he will never get the stain of LIAR off his image.
patrice
(47,992 posts)You have to be able to go after this kind of stuff without tooooooo much regard for who it pisses off in your own camp. The authentic center IS difficult to find, but it is a real advantage & that's why the Oppressor hates Obama so much.
tblue
(16,350 posts)I hope he never lets up on Mitt until election day.
Scuba
(53,475 posts)Segami
(14,923 posts)You bet we will stay tuned!....
catbyte
(39,154 posts)or will let it die by the 11:00 news. I have no faith in American "journalism" anymore.
Diane
Anishinaabe in MI & mom to Taz, Nigel, and new baby brother Sammy, members of Dogs Against Romney, Cat Division
"Dogs Aren’t Luggage--HISS!”
FailureToCommunicate
(14,605 posts)Last edited Fri Jul 13, 2012, 10:45 AM - Edit history (1)
Seems like there is still value in journalists doing their job, don't ya think?
(edited to add GLOBE update: "Clarification: This story has been updated to note previous reporting by the publications Mother Jones and Talking Points Memo on Romney’s involvement with Bain."
catbyte
(39,154 posts)66 dmhlt
(1,941 posts)In an Update by the "Boston Globe" they actually note that "Mother Jones" and "Talking Points Memo" had the story (revealing SEC documents that proved Romney left Bain after 1999) first
http://www.boston.com/news/politics/articles/2012/07/12/government_documents_indicate_mitt_romney_continued_at_bain_after_date_when_he_says_he_left/?page=full
DCKit
(18,541 posts)The Internets have been given all the red meat they need to run with this story.
I'm just saying, the campaign can't afford to take a hit for being wrong on this one, or of going too far.
BumRushDaShow
(169,761 posts)What? The SEC filings were reported by the media and are apparently FOIable, which is why the Globe has them. 
amandabeech
(9,893 posts)There are various sites on the internet, including the SEC's, that carry all SEC filings.
Back when I was practicing securities law, we used "Free EDGAR," EDGAR being the name of the SEC electronic filing system.
Republicans usually do not staff the SEC at full strength. Although Bain's lawyers undoubtedly went over the filing with a fine-toothed comb, it may be that no one at the SEC did as thorough a review.
However, if Romney signed as CEO, he blew it, although I expect that the statute of limitations has expired.
Igel
(37,535 posts)And the Obama team reps that are talking are repeating talking points from people who didn't actually read the filings.
They saw Romney's name and that he was "managing director" and ran with it. Another "managing director" filed the reports. There are a lot of "managing directors."
And, no, I refuse to even look at the damned filings again, much less read them. And I thought Milton was tedious.
ProgressiveEconomist
(5,818 posts)which appears to me to certify "W. Mitt Romney" as having "voting and dispositive power" over "non-beneficially owned" shares of a Bain investment vehicle?
From http://sec.gov/Archives/edgar/data/1033683/000092701601501004/dsc13da.txt :
"As member of the Management Committee of each of BCIP and BCIP Trust, W. Mitt Romney and Joshua Bekenstein may be deemed to share voting and dispositive power with respect to the 1,376,377 shares and presently exercisable warrants to purchase an additional 7,716 shares for a total of 1,384,093 shares or 2.9% of Outstanding Shares held by BCIP and BCIP Trust. The filing of this Statement shall not be construed as an admission that W. Mitt Romney or Joshua Bekenstein is, for purposes of Section 13(d) of the Exchange Act, the beneficial owner of shares held by such entities. ... other than those which the Reporting Person has acquired as a result of the Merger. ...
Dated: May 10, 2001"
Note: This was a hit from a Google search limited to sec.gov : http://www.google.com/search?q=%2B%22bain+capital%22++romney+13g+inurl%3Asec.gov&hl=en&ct=clnk .
Specifying a different edgar site could produce more hits.
BumRushDaShow
(169,761 posts)
Sharpton just had the copies of some on his show this evening including one with Rmoney's signature.
DocMac
(1,628 posts)amandabeech
(9,893 posts)filings ceased referring to him as a control person.
Although the Washington Post piece quotes some securities lawyers with more experience than I (I haven't practiced in the area for a few years) saying that if these filings are incorrect as to Romney's actual position with the several Bain entities, the SEC generally will not prosecute this kind of inaccuracy in 13D-G filings. The purpose of these filings is to let publicly traded companies and the general investing public know whether anyone or any group of entities is accumulating large numbers of shares. The 13G's are filed annually and are generally very routine for investment companies, but the 13Ds are what the SEC considers to be more crucial. The initial filing of a 13D can mean that a takeover attempt is coming, and if the SEC may search for any related filings by related companies with respect to the issue who may actually be accumulating shares in addition to those mentioned in the 13D at issue.
When I wrote my initial post, I had not reviewed any of these filings, which was probably a mistake. I was concerned that Romney had signed an annual report on Form 10-K as the CEO of the reporting issuer even though he had no clue as to what was going on with the issuer. Even in the pre-Sarbanes-Oxley era, signing a 10-K or registration statement as the chief executive officer when one is only a figure head would be a much dicier situation.
If I were Romney's attorney right now, I'd still be unhappy, though.
My take is that Romney was involved with Bain after 1999, but was not spending all his time on Bain business, and is now being less than truthful.
If I were Romney's campaign manager right now, I'd be unhappy, too.
Response to amandabeech (Reply #49)
Post removed
ForgoTheConsequence
(5,186 posts)when did you start posting here?
Cali_Democrat
(30,439 posts)
okieinpain
(9,397 posts)
SunsetDreams
(8,571 posts)
NNN0LHI
(67,190 posts)bin Laden found that out the hard way. Didn't he?
Don
jaysunb
(11,856 posts)I try not to show my confidence in the Presidents re-election for fear of helping spread complacency, but I got to say, this man (Obama) and his team are waaay smarter than the opposition.
They've study them and their tendencies and will slowly and methodically kick the shit out of whoever the nominee is.
Don't stop w/ bin Laden, there's a whole list of "surprised' people and accomplishments out there. This will continue until we win....I just pray we can retain the Senate.
NNN0LHI
(67,190 posts)Thanks for the memories.
Don
NYC Liberal
(20,453 posts)I remember how Gore was supposed to distance himself from Clinton because the Lewinsky "scandal" would tarnish him (never mind that Clinton's popularity was at a peak). Or how Kerry was supposed to ignore the Swift Liars because they would just fizzle on their own.
The fact is, sitting back and "letting the story unfold on its own" doesn't work. Aggressive campaigning and going on the offense about it does. It worked in 2008 and it will work again this year.
NNN0LHI
(67,190 posts)I don't think we need to be worried about the President doing that this time.
Don
NYC Liberal
(20,453 posts)They don't hold back (and shouldn't).
Ship of Fools
(1,453 posts)I agree that they should sit back with a few pitchers of Manhattans for a
couple of days, wipe down the fingerprints and see what happens.
My first reaction was: So what? A half-dozen banks have been fucking us
worldwide for two decades, and all the story gets is 48 hours of talk time...
Felonies seem to have been rewritten as misdemeanors for the 1%.
Romney, as guilty as he may or may not be, is NOT going
to be prosecuted for this, let alone even be taken to task.
Just one woman's very jaded opinion. Hope I'm completely wrong.
DCKit
(18,541 posts)and that wasn't posted anywhere, until long after I posted my "STFU" comment. Seems the risk was minimal, at best.
It's now being confirmed, independently, all over the place and Rmoney is going to take a huge hit. I guess Willard got so used to lying in his every day life, it's become habitual.
Lies: The Crack Cocaine of the 1%
Ship of Fools
(1,453 posts)Need to put away the wine...
Ship of Fools
(1,453 posts)CanonRay
(16,171 posts)He's caught in a lie either way. Love the timing to wait until he's the nominee. Bet there's a big fight at the Rethug convention not to nominate him.
Incitatus
(5,317 posts)
Arkana
(24,347 posts)Romney lied about when he left Bain then when confronted, tried to dissemble by saying "Well I was the CEO and I was still drawing a paycheck but I TOTALLY knew NOTHING about ANYTHING they were doing guys! Trust me!"
It's complete bullshit and I'd be pissed at the Obama team if they DIDN'T ring this bell long and loud.
young_at_heart
(4,042 posts)Not exactly a character trait to be proud of!
Windy
(5,944 posts)Keep up the good work so that our country remains in the hands of the good guys!!!
iemitsu
(3,891 posts)for quite some time.
but i will admit that it could be in worse hands.
SunsetDreams
(8,571 posts)DocMac
(1,628 posts)xtraxritical
(3,576 posts)
pnwmom
(110,261 posts)BumRushDaShow
(169,761 posts)out of desperation and it would happen too soon in the election cycle.
panader0
(25,816 posts)before becoming VP? Before Halliburton got all of those no-bids contracts in Iraq?
He needs to go to jail too (and share a cell with Mittens).
sarcasmo
(23,968 posts)he has to many connections.
1StrongBlackMan
(31,849 posts)By way of analogy, all romney did was start sleeping with a woman without telling her that his divorce wasn't final yet!
{gop talking head response that I expect to hear in 3 ... 2 ... 1 ... Cue sympathetic sound-track}
Coexist
(26,202 posts)I'd like to see if how the odds have changed
Segami
(14,923 posts)Coexist
(26,202 posts)
Douglas Carpenter
(20,226 posts)everyone - including all of us must NOT let the msm ignore this story. they will if they can. We CANNOT let them!!!
DCKit
(18,541 posts)The Obama campaign seems to have had some inside information on the matter.
Uncle Joe
(65,140 posts)Thanks for the thread, Segami.
SunsetDreams
(8,571 posts)GO TEAM OBAMA!!!
sulphurdunn
(6,891 posts)Mitt Romney is a rich financial speculator and job creator, a kind of capitalist nobleman if you will. Hence, he is above any moral, ethical or legal codes and restraints that may apply to lesser mortals. In relation to commoners, he is bound only by the need to give lip service to the virtue of such attributes and codes. It's nothing new. It's merely the culture of aristocracy. 
Ship of Fools
(1,453 posts)I agree with you, although the initial team-Romney implosion is
something beeyootiful to behold.
Iliyah
(25,111 posts)Don't distort or lie or pretend or make up shit, JUST bring the facts out with proof, thats all, and keep pounding it because we all know how easy Mittens have had it with the corporate media, his MILLIONAIRE & BILLIONAIRE bullies pouring in millions upon millions of dollars and the GOP super duper pacs to the evils of Dick Cheney, Karl Rove, Koch Brothers, NRA, US Chambers, et al., who will ina-date both tv & radio airwaves and put forth their foot soldiers....
Game on............
Segami
(14,923 posts)break him down with a flurry of continuous body blows. Be relentless! Don't let him clear the bees in his head.
grantcart
(53,061 posts)I am stunned.
This has more legs than a centepede.
berni_mccoy
(23,018 posts)
loyalsister
(13,390 posts)Let it all out, then let it cool a little bit so they can hear it again as if they are just finding out closer to the election.
They need to be able to talk about it in October without sounding redundant.
Let it sit and allow Obama to slip it into the debates. I think hammering home a story like this over and over probably will lead to a fatigued eye rolling disinterest in the story. "I heard he did something bad, but can't remember what. If I can't remember it must not have been that bad"
But if Obama calls attention to it and it is confirmed again, people might be more inclined to take notice.
Xyzse
(8,217 posts)However, it isn't at the top.
Segami
(14,923 posts)
Tarheel_Dem
(31,454 posts) caseymoz
(5,763 posts)For having a massive scandal before he can get to the White House.
Politicalboi
(15,189 posts)Is raising money for Rmoney. Another bastard that got away with lying about when he left Haliburton and his involvement. Maybe Rmoney is getting some tips from the master of deceit.
Segami
(14,923 posts) 
Javaman
(65,714 posts)
DFW
(60,189 posts)"If you're rich, you deserve it. If you're poor, you deserve it."
They've been singing that one since Harding.
Spitfire of ATJ
(32,723 posts)trying to spin this as "Obama is trying to make a Federal Case out of it."
The "it" being lying, which both are comfortable doing daily.
nxylas
(6,440 posts)According to them, the reason Romney is struggling against that mean old Obama is that, like George Washington and the cherry tree, he cannot tell a lie. Seriously.
Spitfire of ATJ
(32,723 posts)Funny you should say that.
I don't go to FOX "News".
I go here:
http://www.newshounds.us/
Check out their slogan.
nxylas
(6,440 posts)I felt guilty for giving them the traffic. I shall know better next time.
Spitfire of ATJ
(32,723 posts)Some are sites that have closed though.
toostupidtobepresident.com was a favorite, as was bushflash.com.
lovuian
(19,362 posts)the Republicans are so screwed
Kalidurga
(14,177 posts)I will settle for his campaign going down in flames.
bucolic_frolic
(55,143 posts)But he'll get a pass because of his privileged position and CEO Rock Star status.
I've said all along, this election is about rights vs privileges. The true foundation of the
GOP is now showing and the public ain't gonna like it.
Third Doctor
(1,574 posts)Who support people like Rommey are lied to all of the time. They are too willfuly ignorant to accept it though.
great white snark
(2,646 posts)BTW, wasn't Jon Pertwee the third doctor?
tibbiit
(1,601 posts)David Zephyr
(22,785 posts)!
WillyT
(72,631 posts)
MiniMe
(21,883 posts)Hoping that they have more
wordpix
(18,652 posts)with no employees. LA Times covered this when Rmoney ran last time, said he had investors offshore, implying Mittens was helping others avoid taxes.
cscotthendry
(1 post)The question of whether he left in 99 or not is a distraction. Whether he left in 99 or not, he still profitted from the outsourcing of American jobs. That's the real issue concerning whether he ought to be president or not. He actively worked against fellow americans for the purpose of enriching himself. His protestations that "everyone was doing it" just don't cut it. Now that he's become mega rich by trading on the misery of others and trashing their lives and living standards, he now wants to be rewarded by being elected POTUS. That might wash with Wall St and his wealthy corporate backers who also profitted from these practices, but it's a pretty bitter pill to swallow for the rest of the 99%.
Wait Wut
(8,492 posts)Unfortunately, profiting off of the outsourcing of jobs isn't illegal. People on the right are desperate and really don't give much of a damn about the unemployed. However, they can't ignore the possibility that their assumed candidate is a potential felon. Not that it would sway their votes, but it may turn off some Indies.
This is a different kind of contest we have here. This is all about chasing our President out NO MATTER WHAT. That means, they don't care if Romney had illegal Chinese workers in his own damned basement, if he lied to his mother, if he slept with his sister, or hangs his children upside down at nite. He's all they have and they'll ignore it all just to get rid of Pres. Obama.
Bummer, isn't it? Hatred for one man is putting another nail in the coffin of democracy.
Anyway, we'll just keep throwing it all out there and pray that the masses start listening. Which, I believe they're beginning to do.
Welcome to DU!!
PatrynXX
(5,668 posts)He's either guilty of a felony or he perjured himself in 2002 to be Gov in Mass. Both are very illegal. Thought no one could top Rick Scott , having a criminal elected Gov. but now a possible felon.... oh to quote Syndrom of the Incredibles.. "oh this is tooo good"
Amerigo Vespucci
(30,885 posts)http://current.com/shows/the-war-room/videos/breaking-romney-was-100-stakeholder-in-11-bain-companies-later-than-1999
“The War Room” and Current TV have uncovered further evidence of Mitt Romney’s lies about the extent of his ties to Bain after 1999, when he claims to have left the company. A 2003 document with the Massachusetts State Ethics Commission state that Romney held several “executive” positions at Bain Capital and its affiliates. “The Massachusetts Ethics Commission filing distinguishes between the Bain companies in which he played an active role and others where he had ‘no active role,’” Jennifer Granholm says.
Segami
(14,923 posts)DallasNE
(8,008 posts)Would show whether for tax purposes he claimed to be the active owner or a passive owner, with different tax consequences depending on box checked. Given the tone coming out of the Romney campaign I think they know that they are in deep trouble with stonewalling and shouting LIAR LIAR their only options. Romney is beginning to make Richard Nixon look like a statesman in comparison.
wordpix
(18,652 posts)
It's the R way
wordpix
(18,652 posts)
SkatmanRoth
(843 posts)I fully expect the Main Stream Media to sweep this one under the rug.
TBF
(36,671 posts)whether he was head of the company and innocent of the deals going on or a willing participant. If he was innocent of knowing what Fastow was doing, however, he was a pretty inept CEO.
And that is what I'd say about Romney. He either was still the head of the company and out of the loop - piss poor CEO in my book - or he knew. Or somewhere along this continuum.
The ownership class always want to have their cake and eat it too, but to use another old phrase it looks like the hens are coming home to roost on this one.
Hubert Flottz
(37,726 posts)the "Little People"...
Hubert Flottz
(37,726 posts)Wasn't Bill Clinton "Impeached" by the GOP for lying to a grand jury?
But it was okay when Bush, Cheney, Rice and Powell lied to start a trillion dollar war/murder spree?
sonias
(18,063 posts)If Martha Stewart can go to jail for lying to the feds, Romneyi s unfit to be President.
These lies have got to be taken seriously. Romney is not above the law. He thinks he is but Americans should not let him skate on this one.
Mass Minuteman
(14 posts)Bla bla bla bla...
Just another tactic to focus our attention away from the economy.
Please, all politicians are crooks and liars. If there not kissing babies, there stealing there lollipops.
I just want to hear how in the next four years, with congress as it is, will both candidates turn the economy around. Period. Put it down on paper and stand by it.
I'll vote for the one with the better answer.
Paulie
(8,464 posts)Things will get better???????
How about with congress full of Democrats with the Presidency as it is?
Line is from movie The Distingushed Gentleman. If you don't see who the good guys and the bad guys in that movie, why are you on this site????
Mass Minuteman
(14 posts)Actually it's from Hunt for Red October. But the Eddie Murphy movie was a good look at how much curruption there is in Congress......
Paulie
(8,464 posts)Regardless, What about my other questions?
kestrel91316
(51,666 posts)Mass Minuteman
(14 posts)It was a general term applied to all politicians. All politicians, please point out one who doesn't, care about themselves, raising campaign money, power, status, there next election. they make some really bad decisions with our money because people/groups who gave them money influence them instead of what is in the best interest of there constituents.
The system some how broke. I am just happy that people arent taking it laying down and speaking up.
arcane1
(38,613 posts)Take corporate money out of elections, and maybe we'll start making some progress.
Mass Minuteman
(14 posts)2010. Allowed super PACs. Down hill from there
arcane1
(38,613 posts)2010 just made the angle steeper. Corporate money and lobbying have been a problem for decades now.
Wait Wut
(8,492 posts)The better answer or the most logical and realistic answer? If Romney tells you that he can rebuild the economy within 2 years by giving larger tax breaks to the wealthy 'cause they're the 'job creators' and stuff, is that a 'better answer'?
Ian_rd
(2,124 posts)... Hell to the yes.