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More and More Evidence Indicates Romney Was In Charge of Bain When Its Companies Faced Bankruptcies, Layoffs and Outsourcing of American Jobs

Mitt Romney has been unable to explain why he isn’t responsible for what happened at Bain after February 1999 despite remaining its CEO, president and chairman. Mounting evidence indicates Romney was still in charge of Bain when its companies faced layoffs, bankruptcies and American jobs getting sent overseas. Romney needs to come clean so the American people can make their own judgments about his record, perspective and motivations.

Mitt Romney has been unable to explain why he isn’t responsible for Bain companies’ layoffs, bankruptcies and outsourcing after February 1999 despite remaining its CEO, president, chairman and sole shareholder. He’s only offered a convoluted explanation that most Americans would find incoherent and confusing.

We’re seeing more and more evidence from 1999-2002 that Romney was responsible for Bain companies that cost workers their jobs and sent American jobs overseas. He claims he left Bain in February 1999 to run the Olympics, but Romney remained the sole owner, chairman, president and CEO of the corporate buyout firm until late 2001.

  • Bain’s SEC filings, press releases, public statements all indicate Romney remained active at Bain after 1999. They directly contradict Romney’s public statements and federal financial disclosure statements from 2011.
  • In 2002 Romney testified that he served on corporate boards, attended meetings and participated in conference calls during the Olympics – but now he won’t provide details about those activities.
  • Bain filed corporate documents in Massachusetts in December 2002 listing Romney as one of two “managing members” of Bain Capital Investors, LLC.

The Buck Stopped with Romney: Romney’s surrogates now claim he “retroactively retired” from Bain, failing to mention that he was still legally responsible for its actions and compensated for both investments and his work as an executive. He’s undoubtedly responsible for Bain companies that faced bankruptcies, layoffs and outsourcing.

What’s Romney Trying to Hide? Every day raises more questions about why Romney misled voters about when he left the corporate buyout firm. Does he refuse to release his tax returns because there’s still more about his time at Bain that he doesn’t want people to know about? Romney needs to come clean so the American people can make their own judgments about his record, perspective and motivations.

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