So why is Bain important? We must not forget a major contributing cause of the Financial Crisis of 2008 was the filing of false or misleading documents with the SEC. This is no small matter, since 2009 the SEC has collected fines of over 3 Billion dollars for this violation from financial institutions such as, among others: Bank of America, Goldman Sachs, Citigroup, Merrill Lynch, Credit Suisse, J.P. Morgan, and UBS. Even if Mitt Romney actually left all operational control of Bain Capital in 1999, he sanctioned and acquiesced to the filing of false and misleading documents with the SEC until 2002. While this violation may not rise to the level of these other institutions, it does indicate a certain attitude towards these filings. The complete and truthful disclosure of all facts is not important. This was an attitude all too prevalent in the financial community prior to 2009, and all of us paid the cost.
Is full disclosure to the SEC one of the regulations Mitt would do away with? What about other regulations overseeing the financial community; Wall Street and the banks too big to fail? If you put a fox in charge of the chicken coop, you have a problem for the chickens. Will Mitt’s election be the equivalent of that for the small investor? As a life-long Republican, small investor, and small businessman, I can not take that chance; I have been burnt once by a government that did not believe in regulation, and was asleep at the wheel. The sad thing is that Bain was first brought up by a candidate who wanted to colonize the moon, and the false filing was never mentioned. If this was discovered earlier, I would not have supported Mitt in the primaries and we would have a different candidate. Perjury is perjury. It was ethically and morally equal to saying “I never had sex with that woman” only worse since it was related to a public institution, not sex; and there could be no equivocation since the two official documents Mitt signed exactly contradict each other 100%. He can not flip-flop between these two documents. The only way he can extract himself from this hole is release the 12 years of tax returns, as his father did, and thereby prove he received no direct benefit from Bain after 2000.
Bill: “It depends on what the meaning of the words ‘is’ is.”
Mitt: It depends on what the meaning of the words ‘employed’ is.
The Blue Dress is Mitt’s Tax Returns
No stain, no pain
Can a person be impeached before he is elected
This will be Mitt’s pain
untill he reveals all about Bain.
Oh what a tangled web we weave,
When first we practice to deceive!