BAINGATE: So I checked the Massachusetts Business Filings on Bain/Romney

[berni_mccoy]

If you go to the Commonwealth Business Search page and enter Romney's last name in the search by individual field, you will find many listings of companies that involve him or his wife. I recommend to everyone to dig further into all of the companies returned in this search (there are many).

The interesting result I found was this: there are two foreign entities for Bain Capital... Bain Capital Inc. and Bain Capital Investments VI. In filings for both companies with the Commonwealth of Massachusetts for 2001 and 2002, neither company lists Romney as a managing member (see the filings linked below).

Bain Capital Inc. 2001
Bain Capital Inc. 2002
Bain Capital Investments VI 2001
Bain Capital Investments VI 2002

However, as reported by TPM, we know that the SEC filings for the company had Romney as a manager and listed as President, Chairman and CEO and sole share holder of Bain Capital Investments VI. That is the same company reported above to the Commonwealth of Mass as a foreign entity (foreign being a Delaware company doing business in MA). I noticed the following discrepancies between the two filings:
1. Romney was not reported to the Commonwealth as he was to the SEC.
2. The date of the filings with the Commonwealth were filed retroactively, signed by Michael Goss, the CFO in 2003.

And if you look at the company status and its filings with the Commonwealth of Mass, you'll notice that when the company was originally registered in Massachusetts, that Romney was President. But they never filed a Statement of Change of Registered Agent or Resignation of Registered Agent. Which means, even though the filings to the Commonwealth don't list Romney as an officer or member, he was never revoked. This is at best, a misleading filing in Massachusetts or an outright deception.

And the only conclusion is this: either he lied on his filings to the Commonwealth of Massachusetts or he lied to the SEC. Either way, I believe there is criminal deception to a branch of government. The motive is clear... the filings to MA were delayed to 2003, after his campaign for Governor and changed to reflect his statements during his campaign. If Romney was actively engaged in Bain as his SEC filings show, then Romney was actively deceiving the Commonwealth of Massachusetts regarding his position in Bain.

[Raven]

1. My question is: how in the world did Bain manage

to do business under these circumstances? Based on your excellent research, if I were going to do business with Bain, the first thing I'd do is check the SOS business records to see who was authorized to bind the company. If Romney was the last man standing and there was no notice of change or resignation, I would expect Romney's signature on all documents. If Romney signed documents and he didn't know what they were, he's an idiot and not competent to be President. Pretty simple.

[Sheepshank]

13. I currently work in a gov't office that regularly uses this public info.

98% of the population doesn't check out the details of whom they are doing business with until there is a legal or financial need. Often by then its too late to opt out of some sort of agreement or contract. Thousands of businesses carry on their activities without a license of any sort. Recently I was involved with two sting operations for companies that was bilking elderly people out of state with financial investment/internet scams. No license from the State Department of Finance, no registration of the business with the Secretary of State and no local business license.

I had congratulated two of the elderly people I spoke with, for checking up on the company and encouraged them to do this every time. One sweet, kind, gentle old soul could not be disuaded from investing with them. I'm not sure why she called me in the first place, but for every issue I raised, she said they had come up with a 'good' reason for not filing the proper paper work. At that point, the company had not yet been charged, and I had to be careful not to outright state I though they were conducting illegal activites. But they had her so convinced, no amount of gentle prodding (and screaming in my mind) was working. The investment companies are scammers....warn all the retired people you know, there is ALWAYS some type of filings and registration required for people taking your money.

The most basic of these frequent scammer are financial planners/investors and believe it or not, building contractors. It's not until a shoddy job is done that they find out the "contractor" was never licensed...or had a license revoke.

[flamingdem]

2. K&R

[monmouth]

3. I believe Romney describes this as a "quirk." He has much 'splainin to do...n/t

[JHB]

4. Competent managment makes sure 'quirks' like this are covered

Since Romney is asking the American public to 'invest' in him, we deserve a complete and accurate 'prospectus'. If he doesn't provide that, there is reason to believe he's a 'bad investment'.

[berni_mccoy]

5. Romney...competent...

[Jessy169]

7. Yeah, right

And it was just a quirk that Bush and Cheney didn't notice the CIA and NSA urgent warnings about an imminent attack on the US by Bin Laden. It seems that Republican "quirks" are just exactly what we have to be very concerned about.

[ProSense]

9. Yeah, "quirk"

replaces "inaccurate."

[riverwalker]

6. needs to be shouted from rooftops

"either he lied on his filings to the Commonwealth of Massachusetts or he lied to the SEC. "

[Rosa Luxemburg]

26. Everyone here should email or phone all the media

try to talk on local radio stations - write letter to editor in local newspapers - tell the truth.

[riverbendviewgal]

8. Great thread

You explained in concise and simple terms....

Nit Wit Mitt is not POTUS material.

[berni_mccoy]

22. Thank you.

[icarusxat]

10. Waiting now for the third strike

Three felonies and you are out? Here we have felony material, as mentioned in the above postings that should disqualify Mitt from holding office. Then, there is the felony voting fraud thing...(does anyone really believe his residence was the unfinished basement of hos sons house?). I wonder if the release of his tax returns would provide the third, fourth, fifth ad infinitum felonies for this known bully?

[monmouth]

11. Great catch, and welcome to DU if it has not already been said...n/t

[berni_mccoy]

23. Welcome to DU

Anx to answer your question... I believe we are seeing the Obama campaign hold Romney accountable. I think it will continue...

[Rosa Luxemburg]

28. It is actually a felony

but Romney has big lawyers

[Atman]

12. Did you forward this info to the "news" stations?

I mean, since we have no real journalists working there, maybe they could use the tip.

[grantcart]

14. Great. Romney can clear all of this in a New York minute by

releasing his tax returns and showing that he generated no Bain income during this time.

[snappyturtle]

15. I think if he could he would have by now. He should have called

Last edited Sat Jul 14, 2012, 08:00 AM - Edit history (1)

a press conference days ago. Have you seen the Jennifer Granholm
video which shows papers Rmoney signed that listed income he
earned from two Bain entities? I believe W.Mitt is in big trouble.

edit: corrected first name of the former MI governor!

[uponit7771]

16. ummm...yrrrrah...he's toast

[renate]

17. very, very, very nicely done, berni!

and thank you!

The only problem is that John King of CNN says there's nothing to see here. As I posted on another thread:

Another Bain Democrat who did not want to be identified by name said Romney had no role after taking the Olympics post.

"Nothing. Nothing. Nothing. He was just gone. And it happened very suddenly. ... After that, he was not on calls or writing memos. He was gone."

To be clear, all four of the sources voiced professional loyalty and personal respect for Romney. And all four have a vested interest in defending the work of Bain. But they were consistent in describing Romney's departure as abrupt and in saying they could not recall him around the office in the months that followed.

Two highly reputable arbiters of political debate -- The Washington Post's fact-checking arm and FactCheck.org -- also on Thursday stood by their earlier findings that Romney stepped away from any active role at Bain when he accepted the Olympics post. And Fortune reported that it obtained private Bain documents that support the Romney account.

http://www.cnn.com/2012/07/12/politics/john-king-bain/index.html?hpt=hp_c1

So be sure to send your findings to someone who doesn't think that talking to four people who have a vested interest in Bain, and who thinks that Romney's not being seen around the office must mean that he wasn't involved in the firm any more, counts as in-depth research.

[kag]

19. I read King's article this morning and wanted to puke.

It's on the FRONT page right now with the title (partially) "Here are the facts". One of the lines in the story is,

"But the Obama campaign and its liberal allies continue to hang their claim on the SEC filings."

"Liberal allies?" If that's not editorializing then I don't know what is. I was going to say that this story is worthy of Faux News, but it's actually worthy of...CNN.

[librechik]

20. right--"he was just gone" yet he accepted 6 figure salary checks each year while "gone"

web of lies gets more and more weak and complex

[Coexist]

21. so then his tax returns wont show him taking any deductions for Mass business expenses?

why did he testify he flew back for business?

[B Calm]

18. No good outsourcing crook should be in jail

and not running for POTUS!

[april]

24. Big question if all of these findings are true and proven guilty for lying

what really happens ?
do they choose someone else for Pres ????

[berni_mccoy]

25. I don't know. The party could choose another candidate to be the nominee

But I don't think they'd be successful in getting the new candidate on all the ballots.

It would be a lost election for the GOP.

[Rosa Luxemburg]

27. The GOP should stew in its own juice

the corporations and the media will try to cover this up

[AnotherMcIntosh]

29. How about a prosecution?

[KurtNYC]

30. If Romney is President, Chairman and CEO and sole share holder of Bain Capital Investments

then aren't Bain and Romney one in the same? He has made himself a corporation?

If corporations are people, then Bain is Romney.