Romney's Bain lie

Romney stayed at Bain too long; Cheney raises for Mitt; Obama's a bad socialist; and other top Thursday stories

Published July 12, 2012 12:23PM (EDT)

Mitt Romney stayed at Bain three years longer than he claimed: As we’ve previously noted, Mitt Romney twice told the Government Ethics Office that he left Bain Capital in February 1999, but there has been plenty of evidence suggesting otherwise. When he left Bain is a critical question, both because a different date than the one he claimed could mean he lied on official forms, and also because Romney has used the early departure date to insulate himself from attacks on Bain’s practices during the early 2000s.

But the Boston Globe reports today that Romney stayed on a full three years longer at Bain than he has claimed. Securities and Exchange Commission documents filed in the years after 1999 list Romney as the “sole stockholder, chairman of the board, chief executive officer, and president” of Bain. And a Massachusetts financial disclosure form Romney filed in 2003 states that he still owned 100 percent of Bain Capital in 2002. The state forms also show that he earned at least $100,000 as a Bain “executive” in 2001 and 2002. A former SEC commissioner told the Globe, “You can’t say statements filed with the SEC are meaningless. This is a fact in an SEC filing.”

Lessons in the Dark Side not included: Former Vice President Dick Cheney is hosting two fundraisers today for Mitt Romney, who is heading to Jackson Hole, Wyo., for the events. “The main event is at the beautiful Teton Pines Country Club, with its sweeping mountain views. The minimum donation for the general reception is $2,500 per person. For those who donate $50,000 or $100,000 per couple, they will not only get to have dinner with Cheney and Romney but are also invited to the host committee reception and will become a Founding Member of Romney Victory. For $5,000 each, an attendee is invited to a photo reception with the two,” ABC News reports.

Romney has not appeared in public with either Cheney or former President Bush, since the Bush administration remains highly unpopular.

Obama is a terrible socialist: “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,” according to a new report from the non-partisan Congressional Budget Office. The sharp decline especially affected the wealthiest Americans, completely undermining Republican talking points about how Obama has raised taxes on Americans and especially the “job creator” wealthy.

Repeal today, repeal tomorrow, repeal forever: House Republicans successfully voted again to repeal the Affordable Care Act, even though the vote is actually meaningless, as the repeal has no hope of becoming law. The bill was approved by a vote of 244 to 185, with five Democrats supporting, and will be promptly ignored by the Democratic-controlled Senate. Critics note the House spent (or wasted) two days on the bill.

Fed to the rescue? The Federal Reserve is “seriously considering” more economic stimulus moves, something both investors and progressive monetary experts have been calling for for years. Since there is zero chance of more stimulus being passed through Congress, the Fed is the only hope left for meaningful government action to boost the economy. “A few Fed officials were ready to move aggressively,” the Wall Street Journal reported, while others said they wanted to wait a bit more. But either way, the latest meeting of the central bank shows a greater willingness to act. 


By Alex Seitz-Wald

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Bain Capital Dick Cheney Federal Reserve Mitt Romney Taxes