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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOh, "Managing Member of Bain in 2002 Mitt Romney," you are SOOOOOOOOOOOOOOOOOOOO screwed.
DRIP, DRIP: ROMNEY A BAIN 'MANAGING MEMBER' IN LATE '02
http://www.huffingtonpost.com/2012/07/15/mitt-romney-bain-capital_n_1674209.html
WASHINGTON -- Add another document to the pile of evidence contradicting Mitt Romney's continued insistence that he ended his active role with Bain Capital in early 1999, part of his long-running effort to avoid responsibility for the company's activity, related to outsourcing and bankruptcies, during the years that followed.
A corporate document filed with the state of Massachusetts in December 2002 -- a month after Romney was elected governor -- lists him as one of two managing members of Bain Capital Investors, LLC "authorized to execute, acknowledge, deliver and record any recordable instrument purporting to affect an interest in real property, whether to be recorded with a Registry of Deeds or with a District Office of the Land Court."
In August 2011, Romney told federal authorities, as part of the financial disclosure process, that he "retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee [for the 2002 Winter Olympics]. Since February 11, 1999, Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way."
Previously reported evidence shows that Romney was listed as the CEO, chairman and president of the company after 1999 in documents filed with the Securities and Exchange Commission; took a six-figure salary; signed corporate documents related to major and minor deals and attended board meetings for at least two Bain-affiliated companies. The state document was filed two and a half years after Romney now says he retired from the company, demonstrating his deep and ongoing connection to the firm.
malaise
(275,715 posts)Get thee to the greatest page
MADem
(135,425 posts)Ishoutandscream2
(6,724 posts)Now, this is Huffington. Will the real "MSM" please stand up, please stand up.
wakemewhenitsover
(1,595 posts)...which is why it's important that we keep up the pressure, to make sure a double-standard does not prevail.
Beartracks
(13,248 posts)Avalux
(35,015 posts)Which means anything he did with Bain from 1999 to 2002 didn't happen!
Back to the Future Willard.
PatrynXX
(5,668 posts)Refudiate ?? never heard of retro retiring.. X_X usually if a normal person would have done that he'd bit in the shit can from SS...
CTyankee
(64,566 posts)It's really quite simple. The managing committee managed and Mitt didn't go to meetings and his name had "franchise value" so he allowed them to keep his name and they paid him for it so of course he didn't have to actually DO anything! He was being paid for what he'd already DONE!
Well, at least that's what a former member of that committee, Ed Conard, said today on UP with Chris Hayes. the guy looked so smug when he said it. Like he had solved Mitt's problems once and forever.
So Chris and another panel member asked Ed "If this is a GOOD thing, why is Romney running away from it?"
My head hurts...
JDPriestly
(57,936 posts)he, as Ed Conard suggests, lent his name to Bain.
The question is did Romney have a conflict of interest between his job at Bain which was lending his name to the company (officially serving as a managing partner as far as those who dealt with the company might know) and his running for and then taking office as head of the Olympics and then governor of Massachusetts.
This brings to mind the situation with Cheney. He had worked for Halliburton and apparently continued to have contacts with Halliburton, a major federal government contractor which increased its business with the US during Cheney's time as Vice President.
Halliburton as everyone learned from the BP spill is involved in the oil business in various ways (although as far as I know not an oil producer itself). Remember the secret meeting that Cheney had with the oil companies in the early months of Cheney's time as VP? Remember how access to records of that meeting are being withheld to this day from public view?
That's what conflicts of interest do. They make it profitable for companies to buy politicians or political offices.
This is corruption. And it suggests that if Romney were to become president, he might make the corruption of the Nixon, Bush II and Obama administrations look like child's play. And let's face it there is corruption in Obama's administration too. It just isn't as widespread as in other administrations.
wakemewhenitsover
(1,595 posts)...is that Cheney (and Halliburton) only profited mutually from their connection. Corrupt though it was, neither Cheney nor Halliburton faced negative consequences as a result. Will Romney? One can only hope.
AnotherMother4Peace
(4,584 posts)"Surely they don't apply to me! Slick Mitt! Surely you jest........"
surrealAmerican
(11,460 posts)What made him think he could get away with lying?
riverwalker
(8,694 posts)his fellow citizens, as that kid he tackled, bullied, assaulted and cut his hair. he has always gotten away with everything. He was the Mormon wealthy prince.
Amerigo Vespucci
(30,885 posts)...don't remember the show or who said it but it was basically "Romney thinks he can keep blaming Obama and pointing to the job numbers and just sprint to the White House."
There's a lot of truth in that. I think that's EXACTLY what he's had in mind.
"Life is what happens when you're making other plans."
Dalai_1
(1,301 posts)Romney has not had other talking points than blaming Obama& jobs numbers..
it really is as if he was programmed and they only gave him two responses..those
network interviews were pathetic..interesting when Romney said there would
be no more tax returns released(emphatically,I thought) other than the one for this year...
With that emphasis it made me think he might be rethinking his *run*...or
it will be *rethought* for him!
Thank you for this post.
Jessy169
(602 posts)I've been asking myself the same question. Part of me -- the optimistic side -- wants to believe that Romney has been set up for an epic failure by powerful forces in the Republican Party that want to crush Romney and with him the religious extremists who have taken over the party, and return it to a more-or-less reasonable group of politicians who are more inclined to negotiate and try to find common ground in the best interests of America rather than ruthlessly driving their extreme agenda. But the much more realistic reason that Romney thought he could get past all of his Bain-related lies, many of which have yet to be revealed no doubt, is that he has always been a privileged rich kid, a bully of the highest magnitude, used to getting his way, accustomed to everyone backing down and being to afraid to call him on his lies. We've all seen people like this. They lie, they lie to cover up lies, they tell lies to destroy people who have the audacity to call them on their lies. Take a person like that, give him a few hundred million dollars and a lot of power to back him up, and you end up with Romney -- a guy who thinks he can tell any lie and get away with it because that's the way it has always been.
siligut
(12,272 posts)That is how he has gotten away with everything up 'til now.
PatrynXX
(5,668 posts)X_X till now
calimary
(83,518 posts)I wrote about it here - based on what I've observed for years about CEO behavior and the CEO mentality. Call it the World's Biggest Entitlement Program - he's yet another republi-CON who simply presumes that he's entitled to rule in the Oval Office, that the White House is his simply by some Divine decree:
http://www.democraticunderground.com/?com=view_post&forum=1016&pid=35365
My dad was a CEO - granted, he owned a very small company that would hardly be a blip on the radar screen of the mitt romney world. But I saw that attitude manifest itself all over the place.
UNDERSTAND THE CEO MENTALITY!
UNDERSTAND how they fancy themselves. The ruling class mentality. Those unfortunate rich broads in their Land Rovers and luxury cars that were streaming in and out of the Hamptons during those recent big-ass fat-cat big-ticket romney fundraising orgies inadvertently gave the game away. How untouchable and superior they are and better than you. Ideally, they're supposed to keep quiet about it so nobody's tipped off. But in their arrogance and OBSCENELY large sense of entitlement, sometimes they forget, and slip up and blab it all to the public (that's not supposed to know, and certainly not entitled to ask any pesky questions about it).
mitt romney and Her Ladyship ann of Dressage WILL bring that attitude and that mentality into the White House with them if, Heaven forbid, he wins in November. Guaranteed. They just assume it's their birthright already.
AynRandCollectedSS
(108 posts)He's a high-functioning sociopath!
Zyzafyx
(124 posts)He is skewering the Romney campaign.
Yinzerliberal
(3 posts)Until someone that had actual operational contacts with Mittens comes forward to give perspective on his day to day involvement, this will remain too nebulous to sway many votes. I hope I'm wrong, but I don't see it moving the polls.
geckosfeet
(9,644 posts)MADem
(135,425 posts)His signature on affadavits is the whistleblower.
DisgustipatedinCA
(12,530 posts)Id hate it if my job was to defend the completely indefensible, to get people to quit believing their own lying eyes and several official documents. You won't be able to just talk this one away, but you do get points for trying to fly a kite in a hurricane.
nolabear
(42,704 posts)alcibiades_mystery
(36,437 posts)Nicely done.
Motown_Johnny
(22,308 posts)and he is going to have to say it almost every day from now until the election.
Welcome to DU.
Johnny2X2X
(21,139 posts)The Obama team is slow playing their hand. Everything coming from the Obama camp is very calculating, they make a statement, Mitt flips out, then evidence comes out supporting their statement, they are escalating what they say little by little because they know what the facts are.
In short, there probably will be a leaker or several of them who had direct business interactions with Bain and Romney between 1999 and 2002. There is so much paperwork in business that they can literally "uncover" a few documents a week from now until the election.
lonestarnot
(77,097 posts)Amerigo Vespucci
(30,885 posts)It's all in the paperwork, with Romney's own signature. He slipped the noose around his own neck.
Webster Green
(13,905 posts)OK then. We'll see how that works out for Mittens.
DCBob
(24,689 posts)hehehe.
RandiFan1290
(6,338 posts)aint_no_life_nowhere
(21,925 posts)Thanks, I'll keep that in mind come November.
chknltl
(10,558 posts)Welcome to the DU Yinzer.
Go Seahawks!
kag
(4,099 posts)I'm guessing that anyone who is tempted "blow the whistle" on Romney could be paid quite handsomely to keep their mouths shut.
MADem
(135,425 posts)magical thyme
(14,881 posts)admitted Mittens was hands on COB/CEO/Prez of Bain during the period in question.
The paperwork, the witnesses, the evidence is already out there for all too see.
Nice try, though.
Javaman
(62,938 posts)bless your heart.
kentuck
(112,344 posts)Who was the other? I did not find that name in the article?
Moosepoop
(1,980 posts)Here's the document, it was linked to in the article:
http://big.assets.huffingtonpost.com/Bain2002.pdf
BumRushDaShow
(138,386 posts)that in the age of the internet and electronic databases, these things are no longer just sitting lost and inaccessible in some anonymous folder in a metal file cabinet or box in storage? Nowadays, they are all scanned, catalogued, entered into a database as an image file, and searchable online for anyone, including lazy pseudo-"journalists" who people ABC, CBS, NBC, CNN, Fox, (and in some cases, MSNBC).
I think there really is a generation gap there as he went off to enjoy the good life. He sits up there posing with an ipad on the artificial beach created at his lake front mansion, but he doesn't compute what the device is (or what's behind it).
I guess because he's used to others doing for him.
geckosfeet
(9,644 posts)in the MA state house.
He literally bought them and destroyed them to cover his trail. But as you say, he may be a little late to the party with Bain, however he probably has some lackeys working the paper and digital shredders round the clock.
KharmaTrain
(31,706 posts)This is turning into Mitten's "Monicagate"...almost like a sex scandal. Willard's wagged his finger in 2002 saying that he left Bain in 1999 and hoped his "love letters" (the EDGAR and other filings) would remain hidden and his "lovers" would remain paid off and quiet. Now that the truth is coming to light, the first thing Mittens says is how this is a sleezy attack and then how his finances are complicated and us mere mortals surely wouldn't understand. When that attempt to stonewall and ignore didn't work, he's now parsing what "leaving" means and how "complicated" his divesting of power in Bain was and that while he left the company he really didn't leave it. The more he tries to "explain" the worse it will get for him. Meanwhile his hidden lover...his tax returns...remain carefully guarded...
JDPriestly
(57,936 posts)Yes. This is why I became fed up with all the political sex scandals. Who cares? Consensual sex is immoral but not illegal for a reason. It's much too common. Our prisons are full enough.
And from the S&L scandal until Romney, financial corruption in government has been pretty much ignored -- just a part of doing the nation's business -- and old-boys game -- harmless. Who cares about a few taxpayer's dollars here and there. It's just rich guys paying off rich guys.
But now we have seen where all the corruption leads -- joblessness and endless debt. It's time to clean up government.
Obama ran on the promise of transparency. He hasn't lived up to his promise but has done a lot better than most of his predecessors since FDR anyway.
We can't expect perfection in this area, but we don't have to elect people (and politicians don't have to appoint people) who cut corners and will do anything to please their rich friends (especially when campaign donations or big business deals oil the machinery).
Romney's inconsistencies, lies, vague assurances support our impression that he had serious conflicts of interest while serving at the Olympics and possibly when running for and maybe even when serving as governor of Massachusetts. Someone now will have to review all the contracts in Mass. while Romney was governor, all the appointments and see whether he or Bain were involved in any of them.
I'm just so glad that we are focusing on one of the real causes of our country's problems -- finally.
Outsourcing is a symptom of disloyalty to the US and of putting one's own economic interests over those of the country. Outsourcing and importing that are out of proportion to job creation within and exporting from the US are what are harming our country.
So is giving visas to foreign workers rather than training Americans to do the work that is needed.
And all this goes right back to our insane trade policies.
KharmaTrain
(31,706 posts)Ya know I hate using that analogy but I think it fits here.
I understand your frustrations and have read many of your posts here and agree. I wish this administration had not taken up positions held by the previous regime and that the "bipartisan" games would be futile and frustrating. But I tend to be a pragmatist/cynic and know that changing a system so entrenched with corruption would be a heavy lift and met with resistance on many levels. And it has. Single payer would have been ideal but the votes weren't there...and there's the coordinated rushpublican obstructionism that's made even getting a vote to adjourn contentious. Thus the status quo is maintained as the bitter partisanship makes compromise impossible and the problems compound. The rushpublicans are hoping this would weaken President Obama but they then shot themselves in the foot by pushing Willard as their nominee.
The systemic problems in this country's political and economic systems are deep and will take a long, dedicated effort against very powerful interests. It will mean organizing and communicating on a level never seen before to counteract the billions that will be spent to futher pollute the political system. It means working from grassroots politics...re-inventing the party from the bottom up that will serve for the needs of the country in the future.
Or at least that's my dream on a Sunday morning...
Cheers...
Amerigo Vespucci
(30,885 posts)...this comment came several weeks ago, before Bain REALLY blew up, and I don;t remember the source or the show. But it was along the lines of "Romney is HOPING he can just criticize the President for high unemployment numbers and poor job creation and sprint to the White House."
At THIS point, President Obama is winning the battle of "Who's your daddy."
DCBob
(24,689 posts)Here, I can help you..
"A managing member of an LLC is an individual who holds an ownership interest in the company, participates in its day-to day management and has authority to contract on behalf of the company."
http://info.legalzoom.com/definition-llc-managing-member-4298.html
Response to Amerigo Vespucci (Original post)
bupkus This message was self-deleted by its author.
Amerigo Vespucci
(30,885 posts)Posted: 07/15/2012 10:36 am Updated: 07/15/2012 11:02 am
http://www.huffingtonpost.com/2012/07/15/ed-gillespie-mitt-romney_n_1674281.html
WASHINGTON -- Mitt Romney adviser Ed Gillespie said Sunday that the candidate "retired retroactively" from his job at Bain Capital, which Romney maintains that he left in 1999 despite evidence suggesting he remained involved with the company until 2002.
Gillespie said Romney may have been listed as "part-time" after 1999, but that he had no role in the firm's day-to-day affairs, a point the campaign has attempted to make repeatedly in order to separate him from Bain's activity related to outsourcing during that period. Romney has said he left the company completely in 1999 when he started working to plan the 2002 Winter Olympics.
"There may have been a thought at the time that [Romney's Bain work] could be part-time. It was not part-time. The Olympics was in a shambles," Gillespie told Candy Crowley on CNN's "State of the Union."
"He took a leave of absence and in fact, Candy, ended up not going back at all and retired retroactively to February 1999 as a result," Gillespie said.
klook
(12,710 posts)so the extra-marital affair(s) don't count!
BumRushDaShow
(138,386 posts)with Caribou Barbie. The shills at ABC, NBC, CBS, CNN, Fox can run but they cannot hide. It's viral all over the internet and they've been outed again.
klook
(12,710 posts)"I had the title of Managing Director from 1999-2002 but was too busy running the Olympics, playing jetski water polo, etc. to actually oversee Bain's day-to-day operations. The management committee really ran everything; I got paid $100k for my name on the letterhead, and that's all. So I had nothing to do with the outsourcing, the fetus disposal, etc. How can I possibly be expected to keep track of all my many sources of income?"
I'm sure sub-1 percent voters are fine with that! The more Rmoney, his surrogates, and his former associates try to make these arguments, the smaller the corner he's painted into becomes.
brewens
(15,140 posts)Otherwise he'd own up to it.
The real Conservative "principal" is that it makes no difference how you get the money. Earn it, inherit it or steal it. Once you have it, it's yours fair and square and you deserve to live like a king. That's why when we want to clean up things on Wall Street, we are out to destroy everything they believe in.
The best of the Republicans recognize that corruption is a real issue but they don't dare do anything about it. They feel that they are crooks, but they're our crooks. Doing anything about it would take down powerful people on their side and give liberals an advantage.
B Calm
(28,762 posts)Amerigo Vespucci
(30,885 posts)"I didn't do it."
OKEE DOKEE THEN.
Tierra_y_Libertad
(50,414 posts)Or, was he just demonstrating how capitalism really works?
Courtesy Flush
(4,558 posts)The Etch-a-Sketch has spoken. Move on!
TahitiNut
(71,611 posts)That's why he needs car elevators ... to shift energy levels.
magical thyme
(14,881 posts)vlyons
(10,252 posts)execute, acknowledge, deliver and record any recordable instrument purporting to affect an interest in real property." Not that he actually signed anything. Journalists need to dig down a few levels to see what if anything besides the SEC reports that he actually authorized.
But to me, it's not so important how much decision making he did at Bain post 1999. What's important is that the image of him as a shady corporate raider and slick con man has already been fixed in the average voter's mind. Between his policy flip-flopping, contradictory stories and facts about post-1999 Bain, and his obvious and caught out lies about Obama, and his refusal to say what he would REALLY do if elected --- well Romney's just generally perceived as untrustworthy. If Geo Will is wringing his hands over selling Mitt, ya gotta know that the GOP leadership is pissing their pants over him too.
The GOP brand is bankrupt. Tell your friends.
Number23
(24,544 posts)NewJeffCT
(56,834 posts)Maybe take my savings account now and retro-invest it in some 90s internet stocks and sell them off at the highest point in 99 or 00 (weren't amazon.com and eBay and a few others over $500/share at their heights after both starting at $18/share)?
Retroactively have a series of torrid affairs with Hollywood actresses?
Retroactively get a master's degree from Harvard and then retroactively have a Rhodes Scholarship after that?
seabeyond
(110,159 posts)he ran with this.