950 Pages Obtained by GAWKER
Bain isn't a company so much as an intricate suite of steadily proliferating inter-related holding companies and limited partnerships, some based in Delaware and others in the Cayman Islands, Luxembourg, and elsewhere, designed to collectively house roughly $66 billion in wealth in its many crevices and chambers.
. . . The documents are exceedingly complicated. We don't pretend to be qualified to decode them in full, which is why we are posting them here for readers to help evaluate—please leave your thoughts in the discussion below. We asked an attorney who specializes in complex offshore corporate transactions, including ones involving Cayman Island entities, to review them and help us understand them. (We also asked the Romney campaign. It hasn't responded yet.)
The full set can be read here.
You can view/download the entire Bain files cache in one place here: documentcloud.org/public/search/…— Adrian Chen (@AdrianChen) August 23, 2012
Gawker: Romney owns a stake in Sankaty which lent Sheldon Adelson's Las Vegas Sands $3 mil gawker.com/5936868 Major conflict of interest— KnowYourObama (@KnowYourObama) August 23, 2012
Haha, RICH PEOPLE!! The Bain credit affiliate was named after the old steamboat shuttle to Martha's Vineyard: en.wikipedia.org/wiki/Sankaty— Matt Langer (@mattlanger) August 23, 2012
It is MT— David S. Bernstein (@dbernstein) August 23, 2012
@ryanbeckwith: There is a Sankaty Head in Nantucket Island, Mass. ... Perhaps that's where the name came from?
John Cook for Gawker's first Pulitzer. gawker.com/5936394/the-ba…— Hamilton Nolan (@hamiltonnolan) August 23, 2012
The Romney campaign is sh*tting their pants.Looks like— Rob Walp (@walpstar) August 23, 2012
#Bain is making a comeback.This time much worse. Remember the word Sankaty.
The Bain Files: Sankaty Credit: Invests in Debt, that's why Romney loads up companies with debt: He profits! gawker.com/5933809/sankat…— Christopher Marlowe (@MarlowesFaustus) August 23, 2012
One more time, guys: Bain files are about having information on the public record. It's not necessarily about finding a smoking gun.— Dylan Byers (@DylanByers) August 23, 2012
From the SOUR GRAPES File:
Here we go... Gawker's worthless 'Bain files' bit.ly/RGFlzF— danprimack (@danprimack) August 23, 2012
Gawker's Worthless Bain Files
I totally understand why a stack of papers marked "confidential" seems exciting, particularly for those without a deep understanding of private equity. And I'm not taking any position on if Romney did or didn't duck taxes at some point, either related or unrelated to Bain holdings. All I'm saying is that Gawker has posted tons of smoke without any fire.
~ Dan Primack writing for Fortune on CNN Money
guy who declined to publish bain docs has been working on some much more important stories finance.fortune.cnn.com/author/danielp…— max read (@max_read) August 23, 2012
Maybe Harry Reid really does havelegit source.Someone at Bain hates Romney enough to leak a ton of damaging material: gawker.com/5936394/the-ba…— TeresaKopec (@TeresaKopec) August 23, 2012
We now live in a world where Gawker gets the scoop on Mitt Romney's Bain Capital documents. gawker.com/5936394/— Ryan Hebel (@Ryan_Hebel) August 23, 2012
Romney fund bankrolled Adelson
A fund Romney invested in lent the GOP mega-donor $3 million, according to newly uncovered documents
~ Headline on Salon.com
The Fog Of Finance Works Against Mitt
Simply reminding people that he is playing eleven-dimensional chess with his money to minimize the taxes he pays doesn't exactly endear him outside the big-money cadre who support him anyway.
~ comment by Stevemb on Daily Kos
And so, the door opens for Rmoney's dropping out.. After the convention, giving him the needed excuse, and allowing Ryan the opportunity to move up to Presidential candidate, bypassing all the destructive nomination campaigning, and putting the Koch's REAL candidate out there.
The Plan is working perfectly!
~ comment by Fordmandalay on Daily Kos
Even if no smoking gun, it reinforces how completely disconnected Mitt's life is from the average American's. His wealth is a maze of off shore accounts and tricks. Astronomical wealth and epic obfuscation of that wealth. It would, in a sane world, disqualify one from being president. Using foreign countries to hide taxes needs to be described, at all times, as unpatriotic.
~ comment by proverbs for paranoids on Daily Kos
Gives quite a bit of credence to Reid's "Anon" source. Somebody involved with Bain doesn't want Romney anywhere near the white house.
Whomever that is, God Bless you buddy.
~ comment by T.L. Dragon on Politico
Hurricane Isaac isn't the only storm brewing for Romney in the Caribbean today. gawker.com/5936394/the-ba…— Dave O'Donnell (@daveyo33) August 23, 2012
Scientists say Hurricane Isaac not sent by an angry God, but might be a message from George Romney that Mitt should release his tax returns— The Daily Edge (@TheDailyEdge) August 23, 2012
Leaked documents link Romney's money to cigarettes, casinos, Sheldon Adelson huff.to/QvvFRu— Huffington Post (@HuffingtonPost) August 23, 2012
Official Statement from Romney Camp
Mitt Romney left Bain Capital in 1999 for the Olympics. As we have already disclosed, his retirement agreement included entering into passive investments in Bain entities for ten years, through 2009. In 2002 he created a blind trust in accordance with Massachusetts ethics rules after he was elected Governor. Governor and Mrs. Romney do not control the investment of these assets, the investment decisions are made by a trustee.
~ Romney Spokesperson, Michele Davis, via Politico
Guess what morons? Having money is the Cayman Islands is legal. Having a shitload of money there is boss.— PeterWKaplan (@real_kaplan) August 23, 2012
Romney calls Obama's campaign "nasty" and insists he's taking the high road. Romney's high road is where, exactly - the Cayman Islands?— Joy Behar (@JoyVBehar) August 21, 2012
It is only 584 miles from Tampa to the Cayman Islands.— Roger Simon (@politicoroger) August 23, 2012
Bain's Sankaty Advisors' presentation: "Regulation will improve liquidity and transparency" gaw.kr/Pfb59f | Uh-huh.— Brett Blake (@papicek) August 23, 2012