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View Diary: Is Mitt Romney a felon? A Q&A with MoveOn's lawyer. (171 comments)

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  •  the theory on what he probably did (3+ / 0-)

    but of course he won't disclose the paperwork:

    1. Set up a SEP-IRA or one of the others that allows you to put in more like $20,000 a year, not the $5000 or $6000 that most of us are limited to.
    2. Fund the IRA.
    3. Buy, at pennies, assets like shares in one of the Bain hedge funds, that have been deliberately valued very very very low, and since they're not publicly traded, who knows their actual value.
    4. Wait and watch those penny-ante shares balloon into gazillions of dollars.
    5. Sell (no capital gains, they're inside an IRA).
    6. Repeat from step 3.

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