Thursday, July 12, 2012

Romney On The Ropes

"Romney and Bain claim that he was not involved with Bain, but Bain and its portfolio companies in their required filings under the Securities Exchange Act continuously certified to the Securities and Exchange Commission say precisely the opposite -- asserting without qualification that he was a controlling person, fully in charge of Bain, under the Federal securities law," Bauer, the campaign attorney, said in an e-mailed statement. "Under normal circumstances, the question of the truth of this representation would result in an investigation by the SEC into possible criminal, as well as civil, violations of the law."
The Huffington Post reported Thursday evening that in 2002, Romney told the Massachusetts State Ballot Law Commission that during his time running the Olympics, he sat on the board of LifeLike Corporation, a company that Bain invested in in 1996, and owned part of through 2001. While that would not have constituted involvement in day-to-day decision making at Bain, it would seem to contradict Romney's claim not to have been involved in any "Bain entity" during that time.
But Bain Capital spokesman Charlyn Lusk backed up Romney's story

To read the complete story, go here.

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