The Boston Globe has recently reported that Mitt Romney actually remained in control of Bain Capital far longer than has been claimed by him and his campaign staff. But why is this a potential problem for Mr. Romney? Why is it a big deal if he remained in control of his own company longer than 1999 as he has always claimed? Because Bain's activities as a venture capital firm went into overdrive from 1999 to 2002, leveraging corporations for mere "venture" profit, solely designed to out source jobs and extract as much cash as possible before leaving the shell of the companies to die a slow death in bankruptcy. Romney has claimed all along that he was not involved during this type of activity because he left in 1999, before the majority of such action was undertaken. According to the Globe article, Romney was still involved, all the way through 2002 when he was elected Massachusetts governor. Apparently, Mitt forgot that he reported to the Securities and Exchange Commission that he was indeed involved through 2002, and not just as a shareholder, but as Chairman, CEO, and President. You can now imagine the intense efforts the Obama camp will pursue to demand that Romney disclose his tax returns for those years (which Romney has refused to release). It now makes Romney's refusal to disclose those years' returns more than a bit sketchy. As predicted in an earlier posting, I believe Romney will disclose those returns (because he will be forced to). If they indicate money flowed to him from Bain as their owner, CEO. Chairman and President, then the proverbial fan will be running at high speed. Ironically, those on the right have renewed their call for Obama to disclose his college transcripts and financial aid forms. We all know Obama received financial aid, he has repeatedly admitted such. We all know Obama graduated College and Law School, he has admitted such. What we all don't know is the extent of Romney's role at Bain Capital, if any through 2002. If Romney proves himself to be honest on this matter (which we can all hope), than Obama's detractors have some semblance 0f standing to attack him for any of the perceived distortions they dream up.
But will hypocrisy again come into play here? Is Obama "Liar in Chief" as has been promoted on right wing internet sites, or are the claims just political hyperbole? What if Romney's claims about Bain prove to be false? What rationale will his supporters use then? Will Americans again be subjected to even more hypocrisy we have grown to abhor in today's modern political environment? Until we know more about Romney's involvement with Bain Capital, some folks on both sides of the political spectrum need to be careful about throwing stones.
But will hypocrisy again come into play here? Is Obama "Liar in Chief" as has been promoted on right wing internet sites, or are the claims just political hyperbole? What if Romney's claims about Bain prove to be false? What rationale will his supporters use then? Will Americans again be subjected to even more hypocrisy we have grown to abhor in today's modern political environment? Until we know more about Romney's involvement with Bain Capital, some folks on both sides of the political spectrum need to be careful about throwing stones.
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