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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (662189)	7/15/2012 2:43:17 PM
From: puborectalis	Read Replies (2) \| Respond to of 1578890

The Facts SEC Documents SEC filings in the 1999-2001 period show that Romney was listed as “sole stockholder, chairman of the board, chief executive officer, and president” of Bain Capital Inc., as well as positions with other Bain entities. Most the SEC filings were signed by other Bain executives, but we found six that have Romney’s signature. Moreover, one filing with Romney’s signature concerned ChipPAC, now known as STATS ChipPac, one of the biggest outsourcing companies in the world.

To: i-node who wrote (662189)	7/15/2012 2:45:00 PM
From: puborectalis	Read Replies (2) \| Respond to of 1578890

The Boston Globe reports that Romney’s severance with Bain was not finalized until 2002. 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. 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. Factcheck does concede that if Romney lied on SEC forms, he committed a felony. The question, it seems, boils down to the legal definition of “active role.” If Romney was still CEO and sole shareholder in a company, can he maintain a silent role? Does that mean that he is not responsible for ensuring that all of his company’s dealings are legal? The Boston Globe disputes his claim that he didn’t maintain an active role by saying that he created five new investment accounts. Somehow, I doubt the SEC would allow the CEO, President and sole shareholder of a company to claim no responsibility for that company. In that sense, I suspect that a strong case could be made when Bain claimed that during that time, the company was “wholly owned by W. Mitt Romney,” that Romney was ultimately responsible for the running of the company even if it was true that he wasn’t active in the running of the company. If in fact Romney wasn’t actively involved in the running of the company, why was no one named as being responsible for the company? While it’s doubtful that felony charges will ever be filed, at the very least, this is just one more way in which Romney manipulates the law to his own benefit. For some, Romney’s business savvy is an asset. For others, his lack of transparency and apparent lack of scruples is a frightening omen for a man who could be put in charge of enforcing the laws of the country.