Mitt Romney's "I’m like rubber, you're like glue" tactic appears to be backfiring. After weeks of getting clobbered over his Bain record, Mitt Romney released a new web video Thursday accusing President Obama of lying about his outsourcing claims. The video states Romney wasn't working at Bain Capital when it outsourced and cites factcheck.org (more on that later).
Unfortunately for Romney, he failed to put these claims to rest. His problems multiplied, as new reports surfaced questioning his record at face value.
The Boston Globe published a bombshell story, saying Romney stayed at Bain three years longer than he claims.
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.
In response, Bain Capital released a statement on Romney’s exit from the firm. It reads:
"Mitt Romney left Bain Capital in February 1999 to run the Olympics and has had absolutely no involvement with the management or investment activities of the firm or with any of its portfolio companies since the day of his departure. Due to the sudden nature of Mr. Romney's departure, he remained the sole stockholder for a time while formal ownership was being documented and transferred to the group of partners who took over management of the firm in 1999. Accordingly, Mr. Romney was reported in various capacities on SEC filings during this period."
The Romney campaign disputed the claims, calling the Boston Globe story inaccurate. In a written statement, Romney Spokeswoman Andrea Saul said, "As 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 problem is the Romney campaign’s "independent fact checkers" used facts that were in question.
Another mind-bending headache for Romney: David Corn’s exclusive piece for Mother Jones, narrowing in on his alleged outsourcing history in China. He reports Romney poured millions of dollars into a Chinese firm that profited off of outsourcing U.S. jobs.
The SEC filings do not reveal how much Romney initially invested in Global-Tech (which is now known as Global-Tech Advanced Innovations). But Brookside first acquired 748,000 shares at a time when Global-Tech was mounting an IPO at $19 a share. If that was the purchase price Brookside paid, then Romney's firm originally invested $14.2 million in the company.At the time Romney was acquiring shares in Global-Tech, the firm publicly acknowledged that its strategy was to profit from prominent US companies outsourcing production abroad.
Corn points out another serious liability for Romney. The outshoring Chinese company that Bain sold most of its shares in 1998 went to a company in Bermuda, soley owned by Mitt Romney.
An SEC filing submitted on December 21, 1998, reported that the Bain affiliate now controlled only 4.63 percent of the company's shares. But Brookside was sharing its stake in Global-Tech with Sankaty High Yield Asset Investors LTD—a Bermuda-based corporation of which Romney was the "the sole shareholder, a director, and President." That is, Romney had split his Global-Tech holdings between two of his various business entities. (The SEC filing doesn't indicate why he did that.) Sankaty is a story in itself. It was recently the focus of an Associated Press investigation that reported that Sankaty "is among several Romney holdings that have not been fully disclosed" and that there is a "mystery surrounding" Sankaty. Reporting on this Romney entity, Vanity Fair noted that "investments in tax havens such as Bermuda raise many questions, because they are in 'jurisdictions where there is virtually no tax and virtually no compliance,' as one Miami-based offshore lawyer put it." With Sankaty, Romney was using a mysterious Bermuda-based entity to invest in a Chinese firm that thrived on US outsourcing.
The Obama campaign suggested Romney either mischaracterized his time running Bain Capital — a little padding of the resume, if you will — or worse, that he committed a felony by filing false statements with the Securities and Exchange Commission.On Thursday, Obama's deputy campaign manager Stephanie Cutter told reporters Romney he could have been "misrepresenting his position at Bain to the American people to avoid responsibility for some of the consequences of his investments. And if that’s the case — if he was lying to American people — then that’s a real character and trust issue that the American people need to take very seriously.”
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How adorable..
For years the Governor and his minions have been around relentlessly saying the nastiest most vicious things about this President.. all the sudden they feign petulance..
You know kids.. politics is a tough gig.. you folks working the whole darn Romney camp are more and more looking like you were never ready for prime time.
So, we're busy raking up MittMuck.
Mitt Romney is saying that he was the 'absent-minded' CEO at Bain that he still is today. He is just what Grover Norquist wants---a completely shallow CEO with enough 'working digits' to sign the Republicans' agenda into law. The American people need to be made aware of this NOW!!! We cannot have a President of the United States who just does not care enough to be informed or have the intelligence to manage our country's business. Mitt Romney must be the most stupid man in America today!!! The last thing that he cares about is working for us...He is and always has been allergic to work and that is plain to any one who cares to look at his remarks and attitude. He believes that he cannot lose since he has the $$$ behind him to buy the election. He has been buying and selling people all of his life and now believes that is 'just the way it is done'. He is simply to dumb to see that the people with more $$$ than he has have turned around and gobbled him up. This man is a disgusting 'disgrace'.
How'd old Grover get into this discussion?
The Boston Globe had done an exhastive study on Romney when he ran and served as Governor of Massachusetts, they even published a book on Romney that included these rumors of his having remained in an active management role at Bain Capital after he left in Feb, 1999 to rescue the Winter Olympics, and accomplish a turnaround to success of the failing enterprise, and found no substance to the rumors. Now that the stakes are higher for this liberal rag, they've upped the gamble, and joined with the Obama campaign to perpetutate the "Big Lie". And who do they cite for their information..why a fomer officer of the SEC under the Clinton Administration who was a known contributor to Democrat Party candidates. Give me a break.
If you believe this nonsense, you have to believe that with the advice of his attorneys Romney filed documents that he was only a passive investor in Bain Capital after he left with no active managment role risking a felony charge, as that would have been unlawful.
Grover got into this because he was caught on tape stating precisely this to a group of Republican elephants---that it really doesn't matter who is president of the United States, that as long as he has the working digits to sign, THEY will provide the legislation. In other words, I guess an untrained monkey would do as the leader of our great nation and the free world.
And other than that, I am anticipating that Mr. Romney will not accept the responsibility for signing the SEC filings as the "HMFIC" and, as you say, will blame the attorneys who must have just slipped those papers in the stack surreptitiously, among the paychecks, and he inadvertently signed them. Just like any good monkey would and should. He would have never have done so, if only he had known. And, of course, he would never lie to the American people either.
And NO, I DO NOT BELIEVE THIS NONSENSE, do you???
Ha ha ha! Another country heard from!
Romney is a puppet, Bought for and he sold his soul for an ego trip. He has no intention of doing any good for the American People, just his Corporate people. This man is the devil incarnate, the anti-christ we all have been expecting.
...."I'm rubber you're glue, whatever you say, bounces off me and sticks to you"....LMAO...you gotta love Politics.
So, does this mean if he is elected President of the United States Romney can take a four year leave of absence to build his house in La Jolla, but still keep the POTUS Title? Such a deal!
You Lie Romney, release your tax papers and we will know whether Obama is the liar or you are the lying vulture capitalist.
Bain Capital is a turnaround specialist private equity firm, not a "vulture capatalist firm", yumster. That's why it has the support of so many Democrat Party officials that cried foul to the Obama Attack adds on Bain Capital several weeks ago. This nonsense will be over before July is done, and come September and October, the new media will be focused on the double dip recession approaching and the fiscal cliff as we once again breach the national debt ceiling, with no work done by the President and Congress to resolve the issues of financial ruin that are impeding our economy.
Time for a turnaround specialist in the White House.
Think he was lecturing Romney today while campagning in Virgina, Obama stated that "one learns that if they are the Chief Executive they are ultimately responsible for the content of their organizations operations." (I'm paraphrasing). He was, of course, in the words of Henry David Thoreau, "The First Peson Speaking"! He needs to listen to those words he uttered, and realize that they do apply mostly to himself, and his failure and his administrations failure on some many grounds, with our Economy, with our nation's fiscal situation, with the lack of a sane, comprehensive Economic policy, and with our strategic Defense policies. But mostly he is responsible for running a campaign for reelection in light of these failures and an absymal record to stand on with the burn his opponent down tactics that his campaigns flimsy claims on the issues of Bain Capital in the years immediately after Mitt Romney left active management and investment decision in Feb, 1999. His fellow Democrat Party colleague tried to tell him that several weeks ago, the reputable publications in the media that have looked into the matter have told him that in print, and non partisan groups like FactCheck.org have told him that. It's desparate, and the campaign isn't even official off and running, as the two parties haven't even had their conventions yet.
I don't see how he survives this one! He was elected on the promise of "Hope" and "Change" in 2008 on a JIVE camaign, and now he is looking at the desolate landscape our failing economy that his policies have brought about, and decided his best way out of the problem is a "scorched earth" noisy campaign against his opponent, in the words of the immortal bard: "A Tale told by an Idiot, Full off Sound and Fury, Signifying....NOTHING!"
True change is coming in November.
Sneak up to Romney with a match or lighter, bet you can't light his pants on fire with any flame source - he wears asbestos fiber pants.
On Friday the 13th Mitt Romney gives very defensive interviews to FIVE networks on a single day!! Just a few days ago Mitt Romney said to FOX News that explaining means that you are WEAK. So his five interviews explaining his time at Bain were signs of his weakness!!
Presidential Candidate Mr. Mitt Romney is clearly feeling the heat on his role in BAIN Capital which was supposed to be his sole criteria for creating jobs and running for the American Presidency!
When SEC documents show Mitt Romney as CEO, President and Chairman of Bain Capital in 2001 and 2002 then LEGALLY speaking Mitt Romney is responsible to all that goes on under the banner of Bain Capital. Mitt Romney can not just share the good like job creation and leave the ugly like Bankruptcies and layoffs behind as if he had nothing to do about them.
If he really wanted to disassociate himself from Bain Capital he could have resigned and sold all his shares in Bain Capital in February 1999 then it would have been a different matter but to share in the glory of Bain's job creation accept a salary of $100,000 or MORE (where are the Tax Returns?) for three years and only to refuse to take the responsibility of Bankruptcies and layoffs on his WATCH (1999-2002) is trying to have it both ways and then complaining of playing politics having been caught with his hand in the proverbial Cookie Jar that is the very essence of an ACTIVE LEGAL ROLE in Bain Capital till 2002!!
Mitt Romney will have to face the consequences of this Swift Boating that Mitt Romney has brought on upon himself. If we keep reminding the Romney campaign of Bain and its ill effects on workers robbing them of their hard earned salaries and life long benefits all the way to November then today, 7/13/2012 (FRIDAY the 13th) will go down as the turning point of the 2012 Presidential election!
Ajay...you don't have a clue, do you?
Romey's appearance on the networks was simply to counter Obama's continued attacks and his refusal for the overtheline comment of one of his campaigns, spokespersons who accused Romney of committing an act of felony in the six documents on Bain Capital's investments filed since he went on leave of absence before his retirement in the period of Feb., 1999 to 2002 when he 1) rescued the Winter Olympics in a brillian turnaround operation, and 2) ran for Governor of Massachusetts. He didn't "defend" anything...he just simply stated that the Obama campaign staff (helped by the liberal media minnions like this network, MSNBC) are lying about his record and that is beneath the office of the Presidency of the United States.
The issues were taken a close look at on Chris Hayes morning show this weekend, and by NBC's Meet the Press, and it appears the result was a finding that this "He said, he said bru ha ha" is a meaningless distraction in the dog days of summer on events over a decade old that have no real bearing on the real issues we will face in the true campaigns beginning after Labor Day once the candidates have their nominations from their National Conventions.
Former Romney founding partner Edward Conrad, a previous managing director set the record straight for the inquiring Chris Hayes this weekend, stating that Romney was simply on leave of absence, had no active management or investing role while the surviving partners negotiated his renumeration for his having built considerable franchise worth in Bain as its key founding member and CEO. And that no investors in Bain Capital had any other idea as they, as well as the SEC had been notified, as were any potential investors in the 6 turnaround companies at question after Feb 1999 that Romney had no management and no active investment role in the decisions on those companies.
The SEC has no problem with this, even if that dottering old former SEC official the cub reporter for the Boston Globe and Larry O'Donnell dug up who was an active fund raiser for Democrat Party candidates had a partisan reason to come into the dialogue and fudge the issues with her comments. The Washinton Post and factchecker.com have called these attacks by the Boston Globe and the Obama campaign bald faced lies, and have stated its a "liar, liar, pants on fire" three pinnechoes award to the Obama campaign on this issue and on their claim of Romney being "the outsourcer in Chief" while at Bain.
The National Election Commission has no problem with Mr. Romney's filings either, nor obviously did the IRS. You are getting two years of Mr. Romney's tax returns. His tax returns when he ran for Governor of Massachusetts and while he was Governor of Massachusetts are known. John McCain released two years of his tax returns. As did John Kerry when her ran against the incumbant president, George W. Bush...two years only. If you got twelve years, you'd still be crying for the 13th year (covering all of 1999), and so on. Cry if you want...here's your klennix box.
If some of us wants us to pass a law to show birth certificate before running for president, why can't we do the same thing for individual tax returns too? Please Romney, comply.
When the war was going bad at the beginnining of year 2009, it was been referred to as OBAMAWAR by some critics, but after the killing of Osama Bin Laden, it suddenly became bush's war again.
Here we go again with the health care, It is been referred to as OBAMACARE. My guess is if it works right and succeeds, it will become ROMNEYCARE PLAN.
MARK MY WORDS.
Just like birth certificate: NEW LAW-Before running for president, Birth certificate must be provided. Same thing should apply to TAXES.
Republicans betrayed their own conscience when they went against established Republican principles like the MANDATE over healthcare which was a Heritage foundation issue popularized by Gingrich.
Obama did more than his share to UNITE but the Republicans were out to oppose for opposing sake and not following any policy or principles. In the famous words of Minority Senate Leader Mitch McConnell the Republicans were out to defeat the Obama agenda even if it went against established Republican policies set by past precedent.
Mitch McConnell was out to make sure that President Obama remains a one term President and see where it has brought the Congress and its public esteem.
Gingrich out of his own admission was out to defeat Obama from the day he was sworn in as President.
You can not justify the Republicans as the "loyal" opposition as is the case in most mature democracies. They have been out to get President Obama by hook or by crook. A leader can meet the opposition half way but can not fold completely to their whims and fantasies like that of the current Tea Party affiliates.
Republicans will loose in 2012 just like they did in 2008 but with a smaller margin because of the dark money of Billionaires due to Citizens United verdict of the right wing Supreme Court.
Two-Faced Willard
"I was not responsible for what happened at Bain Capital" - Mitt Romney
"I was the Sole shareholder, Sole director, Chief executive officer and President of Bain" - Mitt Romney
"The Arizona immigration policy is a good model" – Mitt Romney
"I didn't really support the Arizona immigration policy" – Mitt Romney
“The Massachusetts healthcare plan should be a model for the nation” – Mitt Romney
“Healthcare reform should be left to the states” – Mitt Romney
"Let Detroit go bankrupt" -Mitt Romney
"I'll take a lot of credit for saving the auto industry" -Mitt Romney
“I believe Roe v Wade has gone too far.” – Mitt Romney
“Roe v Wade has been the law for 20 years we should sustain and support it.” – Mitt Romney
“I respect and will protect a woman’s right to choose.” – Mitt Romney
“I never really called myself pro-choice.” – Mitt Romney
“It was not my desire to go off and serve in Vietnam.” – Mitt Romney
“I longed in many respects to actually be in Vietnam and represent our country there.” – Mitt Romney
“I’m not trying to return to Reagan-Bush.” – Mitt Romney
“Ronald Reagan is… my hero.” – Mitt Romney
“I think the minimum wage ought to keep pace with inflation.” – Mitt Romney
"There’s no question raising the minimum wage excessively causes a loss of jobs.” – Mitt Romney
“I saw my father march with Martin Luther King.” – Mitt Romney
“I did not see it with my own eyes.” – Mitt Romney
“I would like to have campaign spending limits.” – Mitt Romney
“The American people should be free to advocate for their candidates without burdensome limitations.” – Mitt Romney
“I supported the assault weapon ban.” – Mitt Romney
"I don’t support any gun control legislation.” – Mitt Romney
On Friday the 13th (7/13/2012) the very illusive Mitt Romney gave very defensive interviews to all FIVE networks on a single day at once!! Just a few days ago Mitt Romney said to FOX News that explaining means that you are WEAK. So his five interviews "explaining" his time at Bain were signs of his weakness!!
Presidential Candidate Mr. Mitt Romney maybe feeling the heat on his role in BAIN Capital, his business experience which was supposed to be his sole criteria for creating jobs and his greatest qualification for running for the American Presidency in the current economy in 2012!
However SEC documents show Mitt Romney as sole owner of all shares of Bain Capital. Romney is shown as CEO, President and Chairman of Board of Bain Capital in 2001 and 2002 then LEGALLY speaking Mitt Romney has been responsible to all that goes on under the banner of Bain Capital.
Mitt Romney can not just share the good like job creation from 1999 to 2002 and leave the ugly like Bankruptcies and layoffs behind as if he had nothing to do about them from 1999 to 2002.
If he really wanted to disassociate himself from Bain Capital he could have resigned and sold all his shares in Bain Capital in February 1999 then it would have been a different matter but to share in the glory of Bain's job creation accept a salary of $100,000 or MORE (where are the Tax Returns?) for three years and only to refuse to take the responsibility of Bankruptcies and layoffs on his WATCH (1999-2002) is trying to have it both ways and then complaining of playing politics having been caught with his hand in the proverbial Cookie Jar that is the very essence of an ACTIVE LEGAL ROLE in Bain Capital till 2002!! Was Romney getting $100,000.00 or more to do NOTHING for BAIN Capital???
Mitt Romney will have to face the consequences of this leaving Bain "lie" that Mitt Romney has brought on upon himself. If we keep reminding the Romney campaign of the Bain exit lie and Romney's ill effects on workers robbing them of their hard earned salaries and life long benefits all the way to November then 7/13/2012 (FRIDAY the 13th) will go down as the turning point of the 2012 Presidential election!
"Given the precedent set by past five Presidents of releasing multi-year tax returns why is Romney making an exception?"
Because he has a lot to hide, apparently.
He's the only one that knows what's in there, and apparently he's made the judgement that he's better off having us suspect the worst, rather than us knowing whats in there, which apparently in his mind is worse than anything we're likely to imagine.
Possibilities include:
(1) He ended up with 120 million in his 401K by the trick of agreeing with Bain to grossly undervalue the market value of his stock, then a few years later have the stock get unvalued to the stratosphere.
(2) He participated in the tax avoidance amnesty program of a few years back, avoiding major tax penalties or prosecution.
(3) Any one or more of the other borderline legal but very bad smelling tax dodges-- "in-kind" trades, "no-risk" trades, no-risk write-offs, the list is almost endless.
And BTW he HASNT even released all of his 2010 return, he very conveniently left off the foreign investments and deposits form. Very convenient.
And his argument that it would be "bothersome" to collect the tax data is a crock too-- he supposedly collected 23 years of the stuff to show to McCain in 2008.
Ed Gillespie on CNN’s "State of the Union" Sunday 7/16/2012
" ... Mitt Romney senior adviser Ed Gillespie said Sunday on CNN’s "State of the Union" the GOP candidate “retroactively” retired from Bain Capital after the 2002 Salt Lake City Olympics began. ... "
No body who has been drawing at LEAST $100,000.00 per year from 1999 to 2002 from Bain Capital “retroactively” retires from Bain Capital AFTER the 2002!!! Then why draw the salary of at LEAST $100,000.00 per year from 1999 to 2002 from Bain Capital if Romney retired from Bain “retroactively” !!!
" ... Gillespie continued, "He took a leave of absence and, in fact, Candy, he ended up not going back at all and retired retroactively to February of 1999 as a result." ... "
However SEC documents show Mitt Romney as sole owner of all shares of Bain Capital. Romney is also shown as CEO, President and Chairman of Board of Bain Capital in 2001 and 2002 then LEGALLY speaking Mitt Romney has been responsible to all that goes on under the banner of Bain Capital. Then to run for Governor of MA Romney sought residency of MA by lieu of his Bain positions. Now either Romney was at the Olympics OR he was at BAIN.
Only one can be true not BOTH at the same time simultaneously!!! Will the true Willard Mitt Romney stand up and accept ONE thing? Does Romney want to accept untrue SEC filings and be called a Felon or agree that he represented Bain from 1999 to 2002?