The Bain of Romney’s Existence

I don’t think Mitt Romney has ever met a lie that he didn’t like. He claims he had nothing to do with Bain after 1999, but yet was listed as the sole shareholder, director, CEO and president of Bain as late as 2001. He can run from Bain but he can’t hide. The documents to the SEC are either a lie or Romney is lying to the American people. Either way, he is a liar and most likely is an outsourcer of American jobs and a vulture who made money by running companies into the ground. I have news for Mitt – outsourcing jobs isn’t job creation for Americans.

At issue is when Romney left Bain, and whether he was at the helm when it sent jobs overseas.

The documents, filed with the U.S. Securities and Exchange Commission, place Romney in charge of Bain from 1999 to 2001, a period in which the company outsourced jobs and ran companies that fell into bankruptcy.

Romney has tried to distance himself from this period in Bain’s history, saying on financial disclosure forms he had no active role in Bain as of February 1999. Obama has labeled Romney a job killer in hopes of undercutting the Republican’s claim that his private business experience gives him the ability to turn around the struggling economy.

But at least three times since then, Bain listed Romney as the company’s “controlling person,” as well as its “sole shareholder, sole director, chief executive officer and president.” And one of those documents — as late as February 2001 — lists Romney’s “principal occupation” as Bain’s managing director.

The Obama campaign called the SEC documents detailing Romney’s role post-1999 a “big Bain lie.” And Obama deputy campaign manager Stephanie Cutter said the presumptive GOP nominee may have even engaged in illegal activity.


During the years in question — 1999 to 2011 — Bain oversaw investments that either sent jobs abroad of filed for bankruptcy. For example, in late 1999, Bain-controlled Steam International set up overseas call centers, and a subsidiary moved jobs from California to Mexico. In 2000, the Ampad company declared bankruptcy. The following year, so did steel-maker GS Industries — just as Bain made $58.4 million from its investment.


Romney made millions of dollars and cites Bain as chief proof that he understands private enterprise and job-creation.

Romney eventually negotiated a retirement agreement with Bain Capital in 2002. The agreement was made retroactive to February 1999.

The Boston Globe reported Thursday that a Massachusetts financial disclosure form Romney filed in 2003 stated he still owned 100 percent of Bain Capital in 2002.

via Source.

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