Skip to main content

View Diary: Boston Globe: Romney Lied Under Oath In 1991 (93 comments)

Comment Preferences

  •  wrong (5+ / 0-)

    Don't you see how this fits the Romney pattern of big profits for insiders and friends, but chump change for the rest of us?

    Here's the chronology that the Globe article gives.  

    Sullivan Stemberg also kept the couple’s Dedham home, worth $690,000 at the time, and in February 1988 sold 175,000 shares of Staples stock at $2.25 per share to pay off the mortgage. She sold another 80,000 shares two months later, at $2.48 per share.

    “In my opinion, that’s a good price to sell the securities at,” Romney, now the Republican nominee for president, testified in June 1991.

    But on April 28, 1989, barely a year after Sullivan Stemberg sold more than half of her shares on the premise that they were worth less than $2.50 apiece, the company made its initial public offering at $19 per share and ended its first day at $22.50.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site