Mitt Romney on Blind Trusts

“The blind trust is an age-old ruse.” —Mitt Romney, 1994

Posted in Mitt Romney. Tags: . 2 Comments »

Romney Again Caught Lying On Day He Falsely Accused Obama Of Lying

Mitt Romney is running a new ad accusing Barack Obama of lying about out-sourcing. For Mitt Romney these are the worst sort of “lies” about him–statements which are actually true. Ironically it is a day in which yet more evidence on Romney’s dishonesty about his past came out. We already had ample evidence that Mitt Romney not only was involved in out-sourcing, but was a pioneer in the practice. While Mitt Romney’s ad claims, “There was no ‘evidence’ that Mitt Romney shipped jobs overseas,” David Corn added to the massive body of evidence against Romney, posting a story on how Romney Invested Millions in Chinese Firm That Profited on US Outsourcing. This seems to be a rather foolish ad for Romney to run as any of the known examples of Romney out-sourcing jobs would show that he is the one lying in this ad.

Beyond buying ads with false claims about himself and falsely accusing Obama of lying, Romney tries to avoid responsibility for his acts at Bain by claiming he left the company in 1999, before many of the actions which Bain has been criticized for took place. Romney’s credibility was further destroyed today when The Boston Globe ran a story showing that Romney remained in charge of Bain for an additional three years:

Government documents filed by Mitt Romney and Bain Capital say Romney remained chief executive and chairman of the firm three years beyond the date he said he ceded control, even creating five new investment partnerships during that time.

Romney has said he left Bain in 1999 to lead the winter Olympics in Salt Lake City, ending his role in the company. But public Securities and Exchange Commission documents filed later by Bain Capital state he remained the firm’s “sole stockholder, chairman of the board, chief executive officer, and president.”

Also, a Massachusetts financial disclosure form Romney filed in 2003 states that he still owned 100 percent of Bain Capital in 2002. And Romney’s state financial disclosure forms indicate he earned at least $100,000 as a Bain “executive” in 2001 and 2002, separate from investment earnings.

The timing of Romney’s departure from Bain is a key point of contention because he has said his resignation in February 1999 meant he was not responsible for Bain Capital companies that went bankrupt or laid off workers after that date.

As a writer at  Business Insider wrote, “Sorry, Mitt Romney, You Can’t Be Chairman, CEO, And President Of A Company And Not Be Responsible For What It Does…”

If we accept what is in the information submitted to the SEC, then Romney has been lying about when he left Bain, and as chairman, CEO, and President of Bain he was ultimately responsible for its actions. Claims he was chairman, CEO and President but unaware of Bane’s actions would raise serious questions about Romney’s competence as a businessman, his main argument to vote for him. On the other hand, if the information in the SEC filings was not correct, then Mitt Romney may have committed a felony.

Posted in Mitt Romney. Tags: . 14 Comments »