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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRomney got millions when he "retired" from Bain.
That was the negotiation. Is this the money he put into Bermuda? Here is an article from the NY Times from December of last year that might offer more information on Romney's wealth? Also, we can see why Mr Romney does not want to offer any of his tax returns before February 2009...
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http://www.nytimes.com/2011/12/19/us/politics/retirement-deal-keeps-bain-money-flowing-to-romney.html?pagewanted=all
<snip>
In what would be the final deal of his private equity career, he negotiated a retirement agreement with his former partners that has paid him a share of Bains profits ever since, bringing the Romney family millions of dollars in income each year and bolstering the fortune that has helped finance Mr. Romneys political aspirations.
<snip>
Though Mr. Romney left Bain in early 1999, he received a share of the corporate buyout and investment profits enjoyed by partners from all Bain deals through February 2009: four global buyout funds and 18 other funds, more than twice as many over all as Mr. Romney had a share of the year he left. He was also given the right to invest his own money alongside his former partners. Because some of the funds and deals covered by Mr. Romneys agreement will not fully wind down for several years, Mr. Romney is still entitled to a share of some of Bains profits.
<snip>
Mr. Romney is among the wealthiest candidates ever to run for president, with a family fortune that his campaign has estimated at $190 million to $250 million. In the years since he left Bain, much of his wealth has migrated into investments outside the company or into family trusts, including an additional $100 million set aside for his five sons.
But the familys Bain holdings are still considerable: in his 2011 disclosure, Mr. Romney reported Bain assets between $12.4 million and $60.9 million, which provided between $1.5 million and $9.3 million in income. The blind trust for his wife, Ann, held at least another $10 million, generating income of at least $4.1 million. Because the campaign is required to provide only a minimum value for some Bain assets now held by Mrs. Romney, the total could be far more.
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rfranklin
(13,200 posts)And he negotiated a sweet deal which has been paying him handsomely every since.
I can't believe how the terminology is being twisted to protect Romney.
targetpractice
(4,919 posts)I want to reach through my television screen and strangle David Gregory, and everyone else who has forgotten how to be a real journalist.