after 1999? I'm no expert on securities, or business law in general, but isn't this a problem in itself?
We all know that Romney says he was completely inactive in Bain after 1999, either February or July. We also know that he was Chairman of the Board of Directors of Bain, and served on the Boards of several other entitles controlled by Bain. Members of Boards of Directors, however, and especially the Chairman of the Board, have certain fiduciary duties with respect to the entities on whose Boards they serve. If Romney truly had wanted to play no role at all in these entities, then he should have promptly resigned. If he really wanted to retire prospectively instead of retroactively, he still could have spent whatever time necessary to negotiate the sale of his ownership interests. But if he chose to stay on the Board, he was required to particpate in the management of the company and to provide the oversight which Directors are supposed to provide.