2007 LA Times Romney Exposé

[BDBoop]

To assess Romney, look beyond the bottom line - Los Angeles Times

Island tax havens factor into Romney's business success - latimes.com

Two-part story.

Malt said he had repeatedly increased Romney's stake in the Cayman fund since 2003. He said he was unaware of the specific figures, but added that he knew he "wrote a lot of checks," and that it paid a return of 20% to 30% a year.

Malt said he was "pretty confident" that he had invested in additional offshore funds for Romney since taking over the trust. "I don't care whether it's the Caymans or Mars, if it's organized in the Netherlands Antilles or the Jersey Islands," he said. "That means nothing to me. All I care about is whether it's a good fund or a bad fund. It doesn't affect his taxes."

More interesting information in the vetting of the presumed Republican candidate.

 

[Kiki Cannoli]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

 

[tjvh]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Being successful.

 

[Sherry]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Being successful.

Yep, it said so right in one of the titles.

 

[BDBoop]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

 

[Kiki Cannoli]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

OK but are the actions illegal or morally questionable?

 

[C_Clayton_Jones]

The issue isn’t Romney doing anything illegal or wrong; the issue is Romney’s refusal to provide specifics as to events where companies were bought and sold with no regard to the adverse effect on employees, where people lost their jobs as a consequence of corporate wheeling and dealing.

The issue is there’s no evidence in support of the fable Romney’s created of himself as the benevolent entrepreneur starting companies, saving companies, creating jobs, saving jobs, and everyone living happily ever after.

For every legitimate question about his dealings there’s only evasion and vagueness from Romney, which only leads to more questions and continued evasion and vagueness from the candidate.

For example:

Still other troublesome cases emerged when Romney ran for governor of Massachusetts in 2002. Chief among them was Damon Corp., a medical testing company based in Needham, a Boston suburb.

Romney had joined Damon's board of directors after Bain Capital purchased a stake in 1990. He remained there until Corning Inc. bought the company three years later. Bain tripled its investment.

Romney personally profited on the sale, claiming more than $100,000 in capital gains on sales of his own Damon stock, records showed.

But in 1996, Damon pleaded guilty in federal court in Boston to massive overbilling of the Medicare system and paid $119 million in criminal and civil fines.

Then-U.S. Atty. Donald K. Stern called it "a case, pure and simple, of corporate greed run amok." No one at Bain was implicated in the fraud.

Asked about the case during his gubernatorial campaign, Romney told reporters that he "blew the whistle" on the overbilling scheme while still on the Damon board, and had taken "corrective action."

In a recent telephone interview, Stern said he had no recollection of Romney alerting investigators or taking other action. Court records in the case showed the illegal scam continued unabated until Bain Capital sold Damon in 1993.

Romney's aides now argue that reporters misunderstood his claim back in 2002.

One can never get a straight answer from Romney, it’s always a ‘mistake’ or a ‘misunderstanding’ or ‘I wasn’t in charge then.’

The issue therefore has nothing to do with Romney’s success, it has to do with his refusal to be honest with the American people – something he’s clearly incapable of doing.

 

[BDBoop]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

OK but are the actions illegal or morally questionable?

Morally questionable? Yes.

 

[freedombecki]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

What is it you don't understand about it's not illegal?

Did you not vote for Kerry for doing the same?

Going after people for legal activities is a slippery slope, dear.

[ame=http://www.youtube.com/watch?v=iMpXAknykeg]Sad Trombone Sound Effect - FAIL Sound - Fail Horns - YouTube[/ame]
​

 

[Full-Auto]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

What is it you don't understand about it's not illegal?

Did you not vote for Kerry for doing the same?

Going after people for legal activities is a slippery slope, dear.

[ame=http://www.youtube.com/watch?v=iMpXAknykeg]Sad Trombone Sound Effect - FAIL Sound - Fail Horns - YouTube[/ame]
​

I have found a democrat will stoop to any level for power.

You see how they stepped up in the loss of the border agent.

 

[BDBoop]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

What is it you don't understand about it's not illegal?

Did you not vote for Kerry for doing the same?

Going after people for legal activities is a slippery slope, dear.

[ame=http://www.youtube.com/watch?v=iMpXAknykeg]Sad Trombone Sound Effect - FAIL Sound - Fail Horns - YouTube[/ame]
​

I voted for Bush both times.

You might not want to presume. Dear.

 

[RetiredGySgt]

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

OK but are the actions illegal or morally questionable?

Morally questionable? Yes.

Unlike Obama pressuring banks to loan to unqualified people?

 

[BDBoop]

Not doing the change of subject shit anymore.

 

[Kiki Cannoli]

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

OK but are the actions illegal or morally questionable?

Morally questionable? Yes.

So Romney is not worthy of the Oval Office because his financial/business decisions are driven by personal gain rather than the better good of the people = welcome to corporate America. As much as I agree with the implied scrutiny of your OP, I would say we are hard pressed to find a qualified candidate who isn't motivated by power, wealth and control.

 

[tinydancer]

The issue isn’t Romney doing anything illegal or wrong; the issue is Romney’s refusal to provide specifics as to events where companies were bought and sold with no regard to the adverse effect on employees, where people lost their jobs as a consequence of corporate wheeling and dealing.

The issue is there’s no evidence in support of the fable Romney’s created of himself as the benevolent entrepreneur starting companies, saving companies, creating jobs, saving jobs, and everyone living happily ever after.

For every legitimate question about his dealings there’s only evasion and vagueness from Romney, which only leads to more questions and continued evasion and vagueness from the candidate.

For example:

Still other troublesome cases emerged when Romney ran for governor of Massachusetts in 2002. Chief among them was Damon Corp., a medical testing company based in Needham, a Boston suburb.

Romney had joined Damon's board of directors after Bain Capital purchased a stake in 1990. He remained there until Corning Inc. bought the company three years later. Bain tripled its investment.

Romney personally profited on the sale, claiming more than $100,000 in capital gains on sales of his own Damon stock, records showed.

But in 1996, Damon pleaded guilty in federal court in Boston to massive overbilling of the Medicare system and paid $119 million in criminal and civil fines.

Then-U.S. Atty. Donald K. Stern called it "a case, pure and simple, of corporate greed run amok." No one at Bain was implicated in the fraud.

Asked about the case during his gubernatorial campaign, Romney told reporters that he "blew the whistle" on the overbilling scheme while still on the Damon board, and had taken "corrective action."

In a recent telephone interview, Stern said he had no recollection of Romney alerting investigators or taking other action. Court records in the case showed the illegal scam continued unabated until Bain Capital sold Damon in 1993.

Romney's aides now argue that reporters misunderstood his claim back in 2002.

One can never get a straight answer from Romney, it’s always a ‘mistake’ or a ‘misunderstanding’ or ‘I wasn’t in charge then.’

The issue therefore has nothing to do with Romney’s success, it has to do with his refusal to be honest with the American people – something he’s clearly incapable of doing.

Bullshit. Bullshit and more bullshit.

Every time you post you spin.

Let's get to real. And trust me, I am all for the freaking Globe lying, getting caught out and paying BUT they also stole the piece from Mother Jones.

 

[BDBoop]

OK but are the actions illegal or morally questionable?

Morally questionable? Yes.

So Romney is not worthy of the Oval Office because his financial/business decisions are driven by personal gain rather than the better good of the people = welcome to corporate America. As much as I agree with the implied scrutiny of your OP, I would say we are hard pressed to find a qualified candidate who isn't motivated by power, wealth and control.

It's the whole package. The havens, the refusal to provide as many returns as everybody else traditionally does (a tradition started by his father), the damage Bain did, the chronic lying, even when there is no rhyme or reason to it - I cannot find ONE, not one admirable trait this man brings to the table. Not one.

 

[Vel]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Both his actions at Bain, and tax evasion. Part I is Bain, Part II is the havens.

Romney did at Bain what he was supposed to do. His company did not go into healthy companies, he invested in companies that were failing. I suppose the left would have been happier to see the ALL of those companies go under. Mitt was able to help 78% of those companies become solvent again and saved thousands of jobs doing so.

Obama and his supporters need to remember that Bain is not the only entity responsible for layoffs. How about all the GM dealerships that the Obama bailout caused to be closed. How about the thousands at NASA that are still jobless? How about the shovel ready jobs that weren't hired because Obama spent the money repaying his campaign bundlers in green energy. Those jobs were ultimately lost as well. Obama needs to look at the fact that his house is built of clear shiny glass.

 

[Lakhota]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Being successful.

It looks more like he's guilty of lies and deceit. Let the voters decide...

Romney may have concluded that he'd rather suffer the wrath of non-disclosure than the wrath of disclosure. If so, what does that tell us?

 

[tjvh]

I find it disturbing that many people seem not to grasp the idea of a business is to make a profit for its investors. Businesses are not vehicles to provide Americans with high paying jobs, as some here seem to think they ought to be. Sorry to inform you, the World isn't fair and nobody owes you anything if you choose not to work hard and strive to succeed in your own life.

 

[Vel]

Boop - the links are blocked where I am so forgive me if I am asking the obvious.

Romney invested in offshore funds and profited. Many people do and it isn't illegal. Is the issue tax evasion? Although it could be perceived as such, until lawmakers change the laws regarding this sort of activity (which will never happen because I suspect many enjoy the same benefits) Romney is/did act within his legal rights.

Help me understand, what is he guilty of?

Being successful.

It looks more like he's guilty of lies and deceit. Let the voters decide...

Romney may have concluded that he'd rather suffer the wrath of non-disclosure than the wrath of disclosure. If so, what does that tell us?

What do you think you'll learn from his tax returns?