tinydancer
Diamond Member
Grab your diapers libs! Run for your Immodium Ad! The New York Times has publically announced that Mitt Romney is guilty of nothing! The Grey Lady has spoken.
NY Times: 'No Evidence' Romney Did Bain Business
Monday, 16 Jul 2012 11:55 AM
There is no evidence that Mitt Romney exercised his powers at private equity firm Bain Capital after 1999 or directed funds investments after leaving, The New York Times reported.
Although some documents place the Republican presidential hopeful in charge of Bain from 1999 to 2001, a period in which the company outsourced jobs and ran companies that fell into bankruptcy, it is not related to who was running Bain at the time, the Times reported.
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.
Its a disconnect between the ownership interest and managerial functions, Harvey Pitt, who served as S.E.C. chairman under President George W. Bush, told the Times.
When Bain takes positions in public companies, theyre required to show anyone who has an ownership interest that could be the effective equivalent of control. So Romney has to be shown on those filings.
"If they didnt show them on those filings, they would have broken the law. But it has nothing to do with whos actually running Bain Capital, Pitt added.
Read more on Newsmax.com: NY Times: 'No Evidence' Romney Did Bain Business
Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!
NY Times: 'No Evidence' Romney Did Bain Business
NY Times: 'No Evidence' Romney Did Bain Business
Monday, 16 Jul 2012 11:55 AM
There is no evidence that Mitt Romney exercised his powers at private equity firm Bain Capital after 1999 or directed funds investments after leaving, The New York Times reported.
Although some documents place the Republican presidential hopeful in charge of Bain from 1999 to 2001, a period in which the company outsourced jobs and ran companies that fell into bankruptcy, it is not related to who was running Bain at the time, the Times reported.
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.
Its a disconnect between the ownership interest and managerial functions, Harvey Pitt, who served as S.E.C. chairman under President George W. Bush, told the Times.
When Bain takes positions in public companies, theyre required to show anyone who has an ownership interest that could be the effective equivalent of control. So Romney has to be shown on those filings.
"If they didnt show them on those filings, they would have broken the law. But it has nothing to do with whos actually running Bain Capital, Pitt added.
Read more on Newsmax.com: NY Times: 'No Evidence' Romney Did Bain Business
Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!
NY Times: 'No Evidence' Romney Did Bain Business
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