Friday, August 24, 2012

Secret Bain documents reveal that Mitt Romney is rich - Salon.com

Secret Bain documents reveal that Mitt Romney is rich - Salon.com:

click link above

snip


Some of the documents lend support to a common interpretation of Mitt Romney: That he’s just playing pretend with all this conservative anti-Keynesian stuff. One fund Romney has a million or so dollars in sent its investors a letter acknowledging that the economy is “still highly dependent on fiscal support” — or, in other words, the stimulus worked. (Though that’s just what some money manager thinks. Romney picked Ryan, I think conservatives needn’t be worried.)
Oh also some of the funds in Romney’s retirement package from Bain Capital were created years after he “retired.” (One as late as 2008.) Obviously Romney’s incredibly sudden/lengthy and drawn-out ex post facto 1999/2002 Bain retirement is still a matter of some confusion, and this won’t help matters. As Cook says:
But what’s interesting about Sankaty Credit Opportunities is that, according to his 2012 financial disclosure, Romney’s interest in the entity was part of his retirement package: It was made “pursuant to an agreement with Bain Capital regarding Mr. Romney’s retirement” in 1999. But according to its audited financial statement, Sankaty Credit Opportunities didn’t exist yet when Romney retired: “Sankaty Credit Opportunities, L.P., is a Delaware limited partnership which commenced operations on August 12, 2002.” In other words, Romney’s 1999 retirement agreement included an investment in an entity created in 2002—in fact, was created in the heat of his first gubernatorial campaign in Massachusetts. When Romney explained at an October 29, 2002, debate in Massachusetts that he wasn’t responsible for Bain’s actions after his 1999 retirement, it was just 8 weeks after the creation by Bain of a fund that was part of his retirement agreement.



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