FORTUNE: Docs prove Romney didn't manage Bain funds
July 12th, 2012
03:14 PM ET
2 years ago

FORTUNE: Docs prove Romney didn't manage Bain funds

(FORTUNE) – Mitt Romney did not manage Bain Capital's investments after leaving to run the Salt Lake City Olympic Games, according to confidential firm documents obtained by Fortune.

The timing of Romney's departure from Bain became a lightning rod earlier today, when The Boston Globe published an article suggesting that Romney remained actively involved with the firm longer than he and his campaign have claimed. The sourcing is largely SEC documents that list Romney as Bain Capital's CEO and sole shareholder through 2002 - or three years after Romney officially left to run the Salt Lake City Olympic Games.

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Filed under: 2012 • Bain Capital • Mitt Romney
soundoff (41 Responses)
  1. Sydney

    I guess Romney/Bain committed a felony by falsifying SEC docs.

    July 12, 2012 03:18 pm at 3:18 pm |
  2. vic , nashville ,tn

    Physically no but by phone

    July 12, 2012 03:22 pm at 3:22 pm |
  3. rs

    Perhaps he didn't manage funds. All well and good. But his name is still listed on the SEC filing forms (which could have been amended had that been a mistake or oversight). If he was representing Bain, or being promoted as being affiliated with Bain for the benefit of shareholders/inverstors, well they lied. In any event the paper trail still goes back to Mr. Romney, and the unsavory nature of Bain's business.

    July 12, 2012 03:26 pm at 3:26 pm |
  4. incredulous

    Romney drew a salary from Bain during those years. Does that mean he got money for doing nothing? Is this the guy who told the NAACP that there shouldn't be any "free stuff?"

    July 12, 2012 03:30 pm at 3:30 pm |
  5. GOPisGreedOverPeople

    The GOP solution: Turn all Old, Sick, Poor, Non-white, Non-christian, Unemployed, and Gay people into slaves. Then whip them until they are Young, Healthy, Rich, White, Christian, Employed, and Straight. Or until they are dead. Then turn them into Soylent Green to feed the military.

    July 12, 2012 03:31 pm at 3:31 pm |
  6. CanadaONE

    Check his banks accounts during that period – WOW – he is a goner!

    July 12, 2012 03:31 pm at 3:31 pm |
  7. Fair is Fair

    Dems will still perpetuate the lie... and the gullible will believe them.

    July 12, 2012 03:32 pm at 3:32 pm |
  8. Thomas

    Docs prove that while CEO and making $100,000 a year to sign docs, he really had no idea what was going on.

    Laugh

    July 12, 2012 03:33 pm at 3:33 pm |
  9. @OmegaRaiel

    Didn't manage funds but was the owner and boss.
    Woo! I was worried he was involved!

    July 12, 2012 03:33 pm at 3:33 pm |
  10. cali ha ha

    So who provided this.

    July 12, 2012 03:34 pm at 3:34 pm |
  11. MaryM

    CNN confirmed that an SEC filing from 2001 also lists Romney as the "sole shareholder, sole director, Chief Executive Officer and President of Bain Capital. Hmmmmmmmmm sounds like someone is lying. looks like Romney to me

    July 12, 2012 03:35 pm at 3:35 pm |
  12. ST

    Romney did not manage Bain funds!!! and still was the CEO there??? Since when 1+ 3 equals 2?

    July 12, 2012 03:35 pm at 3:35 pm |
  13. ryche

    Who cares?? this is just the obamas campaign strategy of shiny things.. Look over here a shiny thing... no look over there, a different shiny thing.. Anything to get the populace to not pay attention to the economy.... An economy that hasn't done a thing in 4 years... Hey didnt the liar in chief state that he doesnt' deserve another 4 years if the economy didnt turn around under his watch.. Didnt he also say he would cut the defecit in half... hahahha and you numbskulls are still going to vote for him... i laugh at you all..

    July 12, 2012 03:38 pm at 3:38 pm |
  14. Nelson Colorado Springs Co.

    This can't be true but if is I think Romeny has a problem with his Bain Capital's CEO and investments.

    July 12, 2012 03:39 pm at 3:39 pm |
  15. obama victim

    so Barry is lying?? shocking

    July 12, 2012 03:40 pm at 3:40 pm |
  16. Governor 47th in Job Creation (excluding jobs off-shored to China)

    And he has a blind trust, too. What did he call blind trusts? Oh yeah, a ruse.
    Still trying to claim credit for the positives and wasn't there for the negatives...
    Still undeniably in charge and at Bain in 98 when he invested in that Chinese company that was the beneficiary of outsourced/off-shored (RMoney speak) to China at the expense of quality American jobs. Then hid the loot in Bermuda.
    There's still more to come out!!!

    July 12, 2012 03:41 pm at 3:41 pm |
  17. IF YOU VOTED FOR HUSSEIN OBAMA YOU'RE A COMMUNIST

    Liberals are pathetic little parasites.

    July 12, 2012 03:43 pm at 3:43 pm |
  18. Sam

    How could anyone not have operational control and be listed on goverment filings as President, CEO, and Chairman of the Board? I am not buying this!

    July 12, 2012 03:44 pm at 3:44 pm |
  19. lies from the right but mostly hate

    Yea he did but back in the 90's when everyone was screaming term limits for reps. and sen. one JOHN SHIMKUS from Illinois said if elected he would only serve 2 terms, well he lied, he's been in at least 5 or 6 .so the moral of the story is politicians lie. Duh

    July 12, 2012 03:46 pm at 3:46 pm |
  20. Thomas

    "Who cares?"

    The guy has been preaching "no free money", "waste no money" as whatever his campaign has been to this point and either was working for Bain Capital during the time they invested in chinese companies and outsourced a significant number of american jobs or his campaign is "BS" because he was doing nothing and earning 100k while doing it.

    July 12, 2012 03:48 pm at 3:48 pm |
  21. Reggiedw

    Well I hope there will be a retraction from Fortune. Huge headlines with a topic that is such a lie!!!!! Drama on the side of the liberals/democrats....they are getting desperate. They are trying to find anything to hold against Romney. Why don't they go and dig up Obama's college transcripts because I am sure there is alot in there that I do not think he and his croonies wants us to find out about him.

    July 12, 2012 03:49 pm at 3:49 pm |
  22. Ins1te

    So CEO for? A CEO that wasn't aware of what was going on at his own company. Makes sense, NOT.

    July 12, 2012 03:51 pm at 3:51 pm |
  23. Peace

    Pres. Obama is not going every corner of the country and create jobs. There are people doing it on his behalf. If they fail, the blames are placed on him, and one who is doing it mainly is Romney. This applies to Romney as well. So long as he was CEO of Bain, even if not managing the funds, all the outcome, came in his name including the blames!

    July 12, 2012 03:51 pm at 3:51 pm |
  24. scott

    You liberals are so desperate you will believe anything you are told. He has been investigated by the FBI, SEC, has found not to have done anything illegal. Yet you still thinks he has. You all are pathetic

    July 12, 2012 03:53 pm at 3:53 pm |
  25. vet in tx

    @ryche

    Who cares?? this is just the obamas campaign strategy of shiny things.. Look over here a shiny thing... no look over there, a different shiny thing.. Anything to get the populace to not pay attention to the economy.... An economy that hasn't done a thing in 4 years... Hey didnt the liar in chief state that he doesnt' deserve another 4 years if the economy didnt turn around under his watch.. Didnt he also say he would cut the defecit in half... hahahha and you numbskulls are still going to vote for him... i laugh at you all..
    =============================================

    We laugh at you also, only for the simple fact you voted for W twice..........which means, you have no real credibility whatsoever in picking a leader. No matter what snappy comeback, talk radio talking piont, or misleading statement you come up with...........the fact remains that you voted for an obvious failure who lied, spent, and was naive.

    July 12, 2012 03:55 pm at 3:55 pm |
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