Bain Cap Shutting Illinois factory-Sending jobs to China>Money goes in Romney's pocket (blind trust)

[ProgressiveEconomist]

15. More on conflict-of-interest money Romney STILL gets from Bain,

money taxed at the 15 percent "carried interest" rate for COMPENSATION, not investment. Is Romney STILL working for Bain? The Obama campaign demands that Romney release his Bain "retirement" agreement:

From http://www.cbsnews.com/8301-503544_162-57449139-503544/obama-camp-romney-blind-trust-isnt-blind

"Obama camp: Romney 'blind trust' isn't blind
By Brian Montopoli; June 7, 2012

The Obama campaign on Thursday suggested that presumptive Republican presidential nominee Mitt Romney's financial entanglements may create conflicts of interest that impact his policy positions. The campaign grounded its arguments in two issues: One, the fact that Romney continues to receive payments from his old company Bain Capital, and two, the nature of his so-called 'blind trust,' which the Obama campaign says isn't really blind at all.

Last week, Romney disclosed that he received more than $2 million in fresh payments from Bain, the private equity firm he ran until 1999. Although Romney says his severance agreement with the company ended in 2009, the payment disclosed last week raised the possibility that he would continue to be paid by the company as president. The Obama campaign called on Romney to release his retirement agreement with Bain and suggested that he is still tied to the company in some unspecified capacity.... Obama for America General Counsel Robert Bauer said ... the fact that Romney is paying a 15 percent tax rate on the income, the tax rate for carried interest, suggests Romney is performing services for the company despite claims that he is no longer tied to it. ..."

Romney is not fully screened from his investment decisions because (1) the trust is run by Boston lawyer R. Bradford Malt, his longtime personal attorney, and (2) it would not qualify as a federal blind trust, since Romney has signed off on the broad outlines of his portfolio and thus has at least some knowledge of his investments. In response to a question from CBS News about whether the Obama campaign was alleging that Romney had conflicts of interest that were impacting his positions, Obama press secretary Ben LaBolt pointed to Malt having sold investments in China and tied them to Romney's public statements. ..."