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.It should be noted that David Corn broke this story a few weeks ago in a great piece everyone should read, though the Globe appears to have found additional disclosure forms to back up their case.
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.
Oh but it gets worse. As Factcheck.org so graciously pointed out, if Mitt Romney lied in any federal forms about the extent of his role with Bain, Romney may have committed a felony. From Factcheck.org:
If the Obama campaign is correct [that Romney remained at Bain past 1999], then Romney is guilty of lying on official federal disclosure forms, committing a felony. But we don't see evidence of that.Senior Obama adviser David Axelrod has already weighed in on Twitter:
Here's what Romney has said:Mitt Romney Public Financial Disclosure Report, Aug. 11, 2011: Mr. Romney retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee. 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.Romney's signature appears on the line that states: "I certify that statements I have made on this form and all attached schedules are true, complete and correct to the best of my knowledge."
Making false statements to the federal government is a serious crime (under 18 USC 1001) carrying possible fines and up to five years in federal prison.
Based on Globe report, either Bain filed false SEC statements 1999-2002 about Mitt's status, or his campaign is making false statements now.But Axelrod isn't even right about how bad this is. It's not an "either-or."
1. Romney told the SEC that he remained the firm's "sole stockholder, chairman of the board, chief executive officer, and president" up until 2002.
2. But Romney said in a more recent financial disclosure form that he left Bain in 1999 - so the two federal forms contradict each other, at least one is a lie:
Mitt Romney Public Financial Disclosure Report, Aug. 11, 2011: Mr. Romney retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee. 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.
Interestingly, Politico now has up a post echoing what I already wrote, and reaching the same conclusion about a felony.
Rush Limbaugh said Mitt Romney's speech Wednesday to the NAACP fell flat because it was "over these people's heads" and that the group booed the Republican candidate, who "sounded like Snow White with testicles," simply because he's white.
Limbaugh, who regularly refers to the NAACP as the "NAALCP" — the extra L is for "liberal" — claimed that President Barack Obama insulted the group by sending Vice President Joe Biden instead.
"He's confident they'll boo Romney, simply because Romney's white," Limbaugh said. "He's confident of that. But he knows that he's gonna have hell to pay in private meetings with these people. He's not gonna get anywhere near it. So what an insult. Here's Obama sending Biden, not going himself."
Limbaugh portrayed the crowd at the NAACP's annual convention in Houston as ignorant of what was good for them and susceptible to pandering from Obama and other Democratic politicians.
"This group wants to hear about tax increases and bigger government to take care of people," he said, according to a transcript. "They don't want to hear about self-reliance, they don't want to hear about free enterprise. Free enterprise means you've gotta do it yourself. Free enterprise means it's up to you. Free enterprise means you're on your own. This group doesn't want to hear that. I don't think Romney got a single vote in here today."
Meanwhile, on planet earth, we learn (again) the following:
Americans paid the lowest tax rates in 30 years to the federal government in 2009, in part because of tax cuts President Obama sought to combat the Great Recession, congressional budget analysts said Tuesday.
A sharp decline in income — especially among the wealthiest Americans, who pay the highest tax rates — also played a role, according to the report by the nonpartisan Congressional Budget Office. Household income fell 12 percent on average from 2007 to 2009, with income among the top 1 percent of earners decreasing by more than a third.
Soo… Where are all the jobs, Rush? If tax cuts spur job creation, and tax rates are the lowest they've been in three decades, why do we have such high unemployment?
Trickle down economics has failed, but in between jaunts overseas to hook up with rent boys, Limbaugh wants to keep pissing on your head.
This is one of the reasons we pay such a ridiculous amount of money for healthcare as compared to other countries.
It should also be illegal for doctors to own equipment like MRI's and x-ray machines and then order those expensive procedures for their patients and then bill the government and insurance companies. More than a few Mercedes and trips to Aspen have been paid for by that racket.
The Professor has a fine column contrasting Romney the Elder (George, the mid-century businessman and politician) and Romney the Younger (our Mitt). It's a great read, end to end.
But I just want to highlight this one comment:
[U]nless [Mitt Romney] does reveal the truth about his investments, we can only assume that he's hiding something seriously damaging.
There's great stuff in this column, but this bottom line is the Mitt Romney question, don't you think?
Calling Jimmy Olsen — it's Hall of Fame honors for the first one who finds Mitt's secret. Because I think The Professor is exactly right.
To be filed under "No Shit, Sherlock":
STATE COLLEGE, Pa. (AP) — Penn State's investigation into the Jerry Sandusky scandal concludes that the administrators who fielded a 2001 complaint about him created a dangerous situation for future victims by not reporting the matter.
The Freeh Group's report issued Thursday said that in order to avoid bad publicity, president Graham Spanier, football coach Joe Paterno, athletic director Tim Curley and vice president Gary Schultz "repeatedly concealed critical facts."
The report says the men "failed to protect against a child sexual predator harming children for over a decade."
And to all the blinkered assholes who rioted in Happy Valley because their God was accused of enabling a fucking sexual predator -- maybe now you should feel, oh, I don't know...SHAME, maybe?
You can read the full report (if you're in the mood for being infuriated) here.
"I have voted against the health care bill at every opportunity. Plain and simple, the bill is a flawed effort that fails to address the critical issue of rising health costs." - backstabbing DemocRAT Rep. Jim Matheson (D-UT), "plain and simple" Link
You need a crowbar to separate Church and State in Texas! - The Xristian Xrazies in Texas are a special breed. Anyway, meet Dr. Cheryl Washington (she has no doctorate but says that she is "a doctor in the Christian community"), who has vacuumed up over $17 million in taxpayer funds to her series of Charter Schools. Charter Schools with chapels attached (optional attendance) and that on Mondays starting last February, students would need only to "bring a Bible and a notepad." (TPM)
It's perhaps unsurprising that Mormonism, an indigenous American religion, would also adopt the country's secular faith in money. What is remarkable is how varied the church's business interests are and that so little is known about its financial interests. Although a former Mormon bishop is about to receive the Republican Party's presidential nomination, and despite a recent public-relations campaign aimed at combating the perception that it is "secretive," the LDS Church remains tight-lipped about its holdings. It offers little financial transparency even to its members, who are required to tithe 10 percent of their income to gain access to Mormon temples.
Another anti-Obama myth debunked:
Americans paid the lowest federal tax rate in three decades during President Obama's first year in office, according to a new government report out this week.
The Congressional Budget Office found that the average tax rate in 2009 was 17.4 percent, the lowest since 1979, and down from 19.9 percent in 2007. Although figures are only available through 2009, the CBO expects to see the historic lows maintained through 2010 and 2011.
(The Washington Post points out the irony: 2009 was the same year anti-tax protesters began their full-throated criticism of White House tax policies.)
Repeating: the low taxes thing will likely be extended through 2010 and 2011. Of course none of this matters to the Republicans who will continue to just make stuff up about the president's record. Reality is irrelevant.