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It took a while, but I think I've got it.

There is a lot of there there with the Bain story, and it's all about trying, over a number of years, to take the Bain era off the table, politically speaking. Here's the timeline:

1. Mitt Romney founds Bain Capital and embarks on a successful career in private equity, not particularly considering what a political liability it might someday become to be as ruthless as one often needs to be in private equity.

2. In 1994, Romney runs against Ted Kennedy for the Senate. Kennedy wipes the floor with him through relentless attacks on Romney and his role at Bain.

3. In 1999, Romney goes to Utah to lead the scandal-plagued Salt Lake City Olympics. By all accounts, he does a bang-up job.

4. While in Salt Lake City from 1999 to 2002, Romney remains owner, chairman, CEO, and president of Bain Capital, all the while with a salary. The truth of this is demonstrated by SEC filings, which Romney signs. It's also later proven that Romney remained active, at least on a part-time basis, by his own testimony in front of the Massachusetts Ballot Law Commission in order to prove continuous residency in the state so he can run for governor. He testified to active participation in the affairs of Bain and several companies owned by Bain during this time, including Staples and LifeLike. He succeeds in convincing the Commission that he is eligible to run.

5. Romney -- and I suspect some of his advisers -- realizes in 2002 that he's vulnerable to the same attacks on Bain that he suffered in 1994. He must make Bain go away or risk losing his bid for governor.

6. In 2002, Bain gives Romney a severance package, retroactive to 1999, and the story is put forth and repeated that Romney left Bain in February 1999 and any attacks on Romney for his Bain years are "old news."

7. The only proof that Romney actually left Bain completely in February 1999 has come from Romney himself and his campaign. And, yes, an old crony or two from Bain say it's so, too. The required, legal documentation filed with the SEC says otherwise, as does Romney's own testimony he gave to prove his Massachusetts residency.

Where have I gone wrong? It seems clear to me that Mitt Romney made up a story to mute attacks on his role at Bain during the 2002 campaign (it worked, for he was elected), and now he wanted to recycle that effort here in 2012.

This time, people are sussing out his deception. It likely won't work, no matter how many times Romney says he won't release his tax returns. Until he does, I'd make book that he's likely to be hounded incessantly. Eventually, even Fox News might demand he release his returns.

For now, he's behind the eight ball, and if I'm right, his reasons -- beyond the possibility that there's more in his returns than just his role at Bain in the years in question -- for his continued stonewalling is just an attempt to get past Bain as he managed in 2002.

Originally posted to http://www.theamericanhuman.com on Sat Jul 14, 2012 at 01:47 PM PDT.

Also republished by The Bain Files.

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How do you feel about Mitt Romney's truthiness?

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| 65 votes | Vote | Results

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Comment Preferences

  •  where else were you (1+ / 0-)
    Recommended by:
    Templar
    7. The only proof that Romney actually left Bain completely in February 1999 has come from Romney himself and his campaign.
    anticipating it might come from?
    •  Point is that an outside source would be better... (2+ / 0-)
      Recommended by:
      ExStr8, MKSinSA

      at making the case for Romney. So...we go to the outside source, the SEC, and it says Romney in control until 2002. That's my point, right?

      •  what about the fund documents (1+ / 0-)
        Recommended by:
        Balto

        that omit Mittens from the list of principals?  

        •  Bingo (0+ / 0-)

          Those docs omitted Romney starting 2000.

          •  There are 70 Bain entities (1+ / 0-)
            Recommended by:
            MKSinSA

            SEC Source:  http://www.sec.gov/...

            CIK    Company    State/Country
            0001253166    BAIN CAPITAL PARTNERS IV LP
            formerly: BAIN CAPITAL PARTNERS LP (filings through 2003-07-11)
            MA
            0001297890    Bain Capital Partners V, L.P.    MA
            0001260860    BAIN CAPITAL PARTNERS VI LP    MA
            0001270452    BAIN CAPITAL PARTNERS VII LP    MA
            0001309466    BAIN CAPITAL PARTNERS VIII, L.P.    MA
            0001309462    BAIN CAPITAL PARTNERS VIII-E, L.P.    MA
            0001492908    Bain Capital Partners, LLC    MA
            0001135638    BAIN CAPITAL VENTURE FUND 2001, LP    MA
            0001302453    Bain Capital Venture Fund 2004 L P    MA
            0001309471    BAIN CAPITAL VENTURE FUND 2005, L.P.    MA
            0001385402    Bain Capital Venture Fund 2007 LP    MA
            0001408677    Bain Capital Venture Fund 2007, L.P.    MA
            0001457345    BAIN CAPITAL VENTURE FUND 2009 LP    MA
            0001512988    Bain Capital Venture Fund 2009, L.P.    MA
            0001540349    Bain Capital Venture Fund 2012, L.P.    MA
            0001427319    Bain Capital Venture Integral Investors, LLC    MA
            0001309469    BAIN CAPITAL VENTURE INVESTORS, LLC    MA
            0001309470    BAIN CAPITAL VENTURE PARTNERS 2005, L.P.    MA
            0001408678    Bain Capital Venture Partners 2007, L.P.    MA
            0001309472    BAIN CAPITAL VENTURE PARTNERS, L.P.    MA
            0001456684    Bain Capital Venture Partners, LLC    MA
            0001296572    Bain Capital VI Coinvestment Fund, L.P.    MA
            0001269970    BAIN CAPITAL VII COINVESTMENT FUND LLC   
            0001128995    BAIN CAPITAL VII COINVESTMENT FUND LP    MA
            0001296358    Bain Capital VIII Coinvestment Fund L P    MA
            0001309467    BAIN CAPITAL VIII COINVESTMENT FUND, L.P.    MA
            0001419039    Bain Capital X Coinvestment Fund LP    MA
            0001455511    BAIN CAPITAL X PA FUND LP    CO
            0001300251    Bain Capital, LLC    MA
            0001015075    KBSH CAPITAL MANAGMENT INC
            formerly: KNIGHT BAIN SEATH & HOLBROOK CAPITAL MANAGEMENT INC (filings through 2001-08-14)
            A6

            CIK    Company    State/Country
            0001253166    BAIN CAPITAL PARTNERS IV LP
            formerly: BAIN CAPITAL PARTNERS LP (filings through 2003-07-11)
            MA
            0001297890    Bain Capital Partners V, L.P.    MA
            0001260860    BAIN CAPITAL PARTNERS VI LP    MA
            0001270452    BAIN CAPITAL PARTNERS VII LP    MA
            0001309466    BAIN CAPITAL PARTNERS VIII, L.P.    MA
            0001309462    BAIN CAPITAL PARTNERS VIII-E, L.P.    MA
            0001492908    Bain Capital Partners, LLC    MA
            0001135638    BAIN CAPITAL VENTURE FUND 2001, LP    MA
            0001302453    Bain Capital Venture Fund 2004 L P    MA
            0001309471    BAIN CAPITAL VENTURE FUND 2005, L.P.    MA
            0001385402    Bain Capital Venture Fund 2007 LP    MA
            0001408677    Bain Capital Venture Fund 2007, L.P.    MA
            0001457345    BAIN CAPITAL VENTURE FUND 2009 LP    MA
            0001512988    Bain Capital Venture Fund 2009, L.P.    MA
            0001540349    Bain Capital Venture Fund 2012, L.P.    MA
            0001427319    Bain Capital Venture Integral Investors, LLC    MA
            0001309469    BAIN CAPITAL VENTURE INVESTORS, LLC    MA
            0001309470    BAIN CAPITAL VENTURE PARTNERS 2005, L.P.    MA
            0001408678    Bain Capital Venture Partners 2007, L.P.    MA
            0001309472    BAIN CAPITAL VENTURE PARTNERS, L.P.    MA
            0001456684    Bain Capital Venture Partners, LLC    MA
            0001296572    Bain Capital VI Coinvestment Fund, L.P.    MA
            0001269970    BAIN CAPITAL VII COINVESTMENT FUND LLC   
            0001128995    BAIN CAPITAL VII COINVESTMENT FUND LP    MA
            0001296358    Bain Capital VIII Coinvestment Fund L P    MA
            0001309467    BAIN CAPITAL VIII COINVESTMENT FUND, L.P.    MA
            0001419039    Bain Capital X Coinvestment Fund LP    MA
            0001455511    BAIN CAPITAL X PA FUND LP    CO
            0001300251    Bain Capital, LLC    MA
            0001015075    KBSH CAPITAL MANAGMENT INC

            It's difficult to be happy knowing so many suffer. We must unite.

            by War on Error on Sat Jul 14, 2012 at 11:22:31 PM PDT

            [ Parent ]

    •  not from his campaign. (2+ / 0-)
      Recommended by:
      ExStr8, MKSinSA

      they said he was on a "part-time leave of absence."


      "A recent study reveals Americans' heads are larger than they were 150 years ago but sadly there is no indication that the extra room is used for anything." - entlord

      by AlyoshaKaramazov on Sat Jul 14, 2012 at 03:17:43 PM PDT

      [ Parent ]

    •  independently verifiable sources maybe? (3+ / 0-)
      Recommended by:
      MKSinSA, satanicpanic, coquiero

      lack of Romney's signatures on documents?   lack of Romney's names in SEC filings?  

      Stuff like that?

  •  Very good diary. Further excellent questions (8+ / 0-)

    about Romney/Bain can be found in this
    article in Forbes of all places:

    35 Questions Mitt Romney Must Answer about Bain Capital befor the Issue Can Go Away

    Stonewall was a RIOT!

    by ExStr8 on Sat Jul 14, 2012 at 02:09:43 PM PDT

  •  another (4+ / 0-)
    Recommended by:
    ExStr8, WakeUpNeo, Bisbonian, MKSinSA


    "A recent study reveals Americans' heads are larger than they were 150 years ago but sadly there is no indication that the extra room is used for anything." - entlord

    by AlyoshaKaramazov on Sat Jul 14, 2012 at 03:16:35 PM PDT

  •  Great Summation...I give you a 99. (1+ / 0-)
    Recommended by:
    Jane Lew

    There are a whole lot of loose threads running around on this story, and you tied most of them together.  Another Kos diarist found another one yesterday or the day before that you probably didn't see...  he was looking for evidence of residency, on documents signed by Romney during the period in question, and hit (brilliantly) on FEC forms for campaign donations made by Romney.  He found one, from March of 2002, listing Mitt as living in Mass., employed by Mass., job title Governor of Mass.   In March of 2002.  I can't remember who it was, or the title of the diary, so I'll go looking.

    When banjos are outlawed, only outlaws will have banjos.

    by Bisbonian on Sat Jul 14, 2012 at 08:31:06 PM PDT

  •  The docs... (0+ / 0-)

    Does anyone here have a link to pdfs of the actual docs with his signatures?  I'd like to hand out copies to anyone considering voting for him.

    Thanks.

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