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troubles brewing for Mitt... turns out he has been saying all along he wasn't responsible for the lay offs and such from Bain Capital as he quit the company in 1999... Guess what? Turns out he was there into the 2000's and indeed was the head of the operation
Do I detect another Flip coming from him? Guess those are just expected he has had so many
This is pretty harsh coming from Bob Baur, Obama's lawyer who represented him on birth certificate lawsuits. If true, Romney is in some serious **** over this Bain stuff and it wouldn't suprise me if Team Obama wouldn't try to initiate a criminal investigation on Romney by Holder or the SEC in order to smear Romney and make the public perceive Romney is a criminal like Madoff. Baur said.....
"Romney and Bain claim that he was not involved with Bain, but Bain and its portfolio companies in their required filings under the Securities Exchange Act continuously certified to the Securities and Exchange Commission say precisely the opposite--asserting without qualification that he was a controlling person, fully in charge of Bain, under the Federal securities law. Under normal circumstances, the question of the truth of this representation would result in an investigation by the SEC into possible criminal, as well as civil, violations of the law."
Obama deputy campaign manager Stephanie Cutter suggested that Mitt Romney may be a criminal on a conference call with reporters this morning about a Boston Globe report that shows that Romney stayed at Bain Capital three years past when he said he'd left.
Cutter said that there were two ways to interpret the story. The first: Mitt Romney was "misrepresenting his position" at Bain to the Securities and Exchange Commission, "which is a felony."
The other way to interpret the story: the Obama campaign is desperate, and is lying.
Not exactly. People hire others to run their companies all the time without turning over ownership or titles. In fact there are people that specialize in it
I'm President of a company in Texas, but I live in Ohio, and I havent been to the office since I bought the company.. Warren Buffet owns Coca Cola, Dairy Queen, and hundreds of other companies, do you really think he's out making ice cream?
Not exactly.
Buffet may own controlling stock in those hundreds of companies, but he does not run them. The only company he runs is his investment group.
While everything you said is true, the comparison of Mitt to Buffet isn't very accurate. Bain Capital is a venture capitalist group, and it's the nature of venture capitalism to seek out companies that are either intended to be bought and actively improved, or bought to be actively sold at a profit.
Buffet has the ability to actively impose himself into many of his investments as a controlling stock holder, but does not. He prefers to let them rise or fall on their own, and he makes money either direction if he wants to shed himself of his stockholdings.
Bain Capital took Buffet's position. They did what they wanted with every company they bought, with no say-so from the former owners. Both positions are perfectly legal, but Buffet and Romney chose totally opposing management paths as a general course of business.
Of course, there are instances where Bain probably did nothing much to one of their companies, and Buffet probably stripped out one of his and sold off the remnants. But in venture capitalism, the the exceptions do not prove the rule.
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