Coming February 6, 2024 . . .
MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
Pre-order at Barnes & Noble / Amazon / Books-A-Million / Bookshop
Coming February 6, 2024 . . . MURDER, POLITICS, AND THE END OF THE JAZZ AGE by Michael Wolraich Pre-order at Barnes & Noble / Amazon / Books-A-Million / Bookshop |
Today, we are publishing more than 950 pages of internal audits, financial statements, and private investor letters for 21 cryptically named entities in which Romney had invested—at minimum—more than $10 million as of 2011 (that number is based on the low end of ranges he has disclosed—the true number is almost certainly significantly higher). Almost all of them are affiliated with Bain Capital, the secretive private equity firm Romney co-founded in 1984 and ran until his departure in 1999 (or 2002, depending on whom you ask). Many of them are offshore funds based in the Cayman Islands. Together, they reveal the mind-numbing, maze-like, and deeply opaque complexity with which Romney has handled his wealth, the exotic tax-avoidance schemes available only to the preposterously wealthy that benefit him, the unlikely (for a right-wing religious Mormon) places that his money has ended up, and the deeply hypocritical distance between his own criticisms of Obama's fiscal approach and his money managers' embrace of those same policies. They also show that some of the investments that Romney has always described as part of his retirement package at Bain weren't made until years after he left the company.
These documents -- not all of which are new -- will require a great deal of vetting, but early signs indicate that there are some new, and potentially controversial, details -- starting with that bit at the end about a retirement package investment that was made almost a decade after Romney retired.
According to his 2012 financial disclosure, Romney was given a stake in Sankaty Credit Opportunities L.P. as part of his retirement package in 1999. But Sankaty Credit Opportunities didn't exist until 2002.
"In other words, Romney's 1999 retirement agreement included an investment in an entity created in 2002—in fact, was created in the heat of his first gubernatorial campaign in Massachusetts," Cook wries. "When Romney explained at an October 29, 2002, debate in Massachusetts that he wasn't responsible for Bain's actions after his 1999 retirement, it was just 8 weeks after the creation by Bain of a fund that was part of his retirement agreement."
Comments
I smell smoke ... but is it a gun ? cannon ? or forest fire?
by Beetlejuice on Thu, 08/23/2012 - 1:54pm