Willard Mitt Romney Has His Cake, And Eats It, Too

August 6, 2012 at 6:13 pm | Posted in Presidential election | Leave a comment

Willard Mitt Romney says that he is not responsible for the jobs lost due to Bain Capital’s activities after he left Bain.

But some of the 100,000 he takes credit for creating turn out to have been created after he left Bain.

This – along with many other revealing facts about Romney and Bain – are contained in a remarkable blog posting The Bain Bomb: A User’s Guide, posted (at the New Yorker) by John Cassidy on January 13, 2012.

Cassidy’s blog entry was written before the South Carolina primary, but the facts in it are still very relevant.

In particular, the section entitled “How much tax has Romney paid on all the money he made at Bain Capital?” lays out facts that probably explain Romney’s extreme reluctance to release his pre-2010 tax returns.

Another example: Remember Romney’s claim to have retroactively retired from Bain Capital in 1999, coupled with his claim of no responsibility for jobs lost after he left Bain?  Cassidy’s article cites the December 18, 2011 New York Times article by  Nicholas Confessore, Christopher Drew and Julie Creswell  that reveals that Romney’s retirement agreement gave him a share in all of Bain’s profits through 2009, and that he still receives a share of Bain’s profits.  That sounds like
– a potential conflict of interest during his term as Governor of Massachusetts
– a potential conflict of interest for a President
– proof that Romney had a financial link to Bain’s activities well after his formal separation from Bain Capital

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