Thursday, August 23, 2012

Romney's Bain Capital Files Leaked - Updated


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.

Equity Swaps, AIVs, and Mitt Romney's Other Tax-Dodging Tricks

Mitt Romney's Endless ‘Retirement' Package

How Mitt Romney Puts His Money Where Obama's Mouth Is

Derivatives, Short Sales, and Mitt Romney's Other Exotic Financial Instruments

Mitt Romney Is the National Enquirer's Banker



From the SOUR GRAPES File:

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


Romney fund bankrolled Adelson
A fund Romney invested in lent the GOP mega-donor $3 million, according to newly uncovered documents
~ Headline on

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

Ruh Roh!
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


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


No comments:

Post a Comment