Up host Chris Hayes and his panelists discuss Mitt Romney's history at Bain Capital.
Romney's time at Bain in question
Sat Jul 14, 2012 3:59 PM EDT
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Chris Hayes' new book
Over the past decade, Americans watched in bafflement and rage as one institution after another – from Wall Street to Congress, the Catholic Church to corporate America, even Major League Baseball – imploded under the weight of corruption and incompetence. In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters.
How did we get here? With "Twilight of the Elites," Christopher Hayes offers a radically novel answer. Since the 1960s, as the meritocracy elevated a more diverse group of men and women into power, they learned to embrace the accelerating inequality that had placed them near the very top. Their ascension heightened social distance and spawned a new American elite--one more prone to failure and corruption than any that came before it.
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How many times was Obama's birth certificate cried for by GOPs and still are?....
Hey Romney, if it's hot in the kitchen, get the hell out!
Could be Romney employing the concept of true but intentionally misleading.
He took of leave of absence in 1999 to oversee the Salt Lake Olympics, but retained the titles of Chairman and CEO. This would enable Bain and Romney to benefit by its ability to court private investors and show continuity of leadership, as reflected in the SEC filings. This could be factually true but misleading to any potential investors.
He came back to Massachusetts to run for Governor, but his opponents pointed out he hadn’t been a resident of the state. Again, Romney could personally benefit by showing he was an executive with Bain and returned ‘home’ for business and personal reasons. Again, possibly factually true but misleading.
Then his opponents (initially from his own party) brought up his record with Bain and the number of jobs lost or outsourced. This time it was to his benefit to say the he played no active role in Bain after 1999 - allegedly before any major outsourcing occurred. Again, possibly true, but based on his earlier assertions, very misleading.
Why does it matter where he was working if he was the sole owner of the company. If he didn't like what they were doing, as he claims, he could have fired them
if I'm a minor investor in a company, I can't be held responsible for what they do, it is at most a moral decision to sell the shares if I don't like it, but if I'm the sole owner of a company then there is no shirking the responsibility no matter what
Exactly! If Romney was the sole owner, as the SEC filings state, then he's responsible and accountable for what the company did.
Does anyone really believe he had nothing to do with the company during that time period? That he totally ignored what was going on in his business? I don't believe he's that stupid, but if he is, then I darn sure don't want him in charge of the country.
Huey Lewis has added franchise value to Huey Lewis and the News.
If I invite Huey Lewis and the News to play at my birthday party and find out that Huey Lewis is no longer in the band - I would feel ripped off.
How can Mitt Romney keep his name on Bain to retain franchise value yet not show up at any parties?
I am watching right now...in re to Romney's association with Bain Capital....what do you expect to find out from your guest.....you are digging yourself a hole...that is getting deeper and deeper......Get over it....He was there....and that's all that is necessary. Get on to the person we call Mitt....A LIAR, A CHEAT, and from his own words....."I like to fire people.....". A Stupid man, to think he can go to an NAACP convention and talk about removing Affordable Healthcare..which has been and is going to be more of a help to the very people to whom he is speaking. Does anyone need any more proof that his qualifications that he so proudly states are NOT at all what we are looking for in a LEADER of the Free World. Let me tell you...I do NOT care how much money he has in his coffers.....it doesn't matter....we are NOT going to allow him to take over the Oval office. If President Obama has multi billion dollars or only one....It is not about the money, it's about the person.
If Romney's time at Bain after 1999 was merely "on paper" answer this hypothetical: If Bain had been convicted of massive criminal fraud in 2001, would Romney have been legally liable or would the courts have said, "No problem, Mitt. You're just the chairman, CEO, sole stock holder...so you can walk."?
Has no one heard of the telephone? Just because Mitt Romney was in Utah, busy with the Olympics, and may not have physically attended meetings at Bain Capital, that does not mean that he, as CEO and sole stockholder of the company, did not follow the major decisions being made by the management committee running the company in his absence.
In fact, his claim that he was totally divorced from the company at the time--when the records show clearly that he was still the CEO and sole stockholder--defies credulity. What person who owns a company, whose future income/fortune is dependent upon the welfare of that company, would totally ignore what those managing the company were doing? Only a madman or a fool would do that! That person wouldn't have to be physically present to be kept abreast of what the company was doing or involved in the minutiae of every deal being done, but would certainly want to be kept informed about any major deals or changes in the basic direction of the company.
Of course none of the people who were part of the management team that Romney left in his place when he went to Utah would be willing to say anything that would harm Romney's presidential bid: they have all been well compensated over the years and stand to get a large tax cut if Romney is elected, while, if Obama is re-elected, they may well see their taxes rise. The amount of money that is at stake for Romney's closest associates at Bain Capital is substantial and only a fool would think that this would not play a role in what they will say about Romney's time at Bain and his departure from the company.
Give me a shovel in watching this total cover up by this former Bain employee Conrad and his trying to back up that Romney was gone and not involved on daily functioning of Bain, but his name was still there as CEO on paper work? This is your baby and you go take a job for the Olympics and not know what is going on? Not possible? I am not a CEO, I am a retired RN , investor and just other day I got a letter on one of my investments that I may not be able to buy into this company for now? So I will be contacting my money guy as I call him, to explain tol me what is going on? So this Conrad wants to say that Romney with his name as CEO on this Bain company for 3 years did not ask or make any comments on what they did after 1999? I find this very hard to believe? Now I can see why we are now in this super mess with what this Mr. Conrad feels is okay for business in outsourcing and so what about the middle class and the worker here in the US, who could take care of a family off of Mfg? Chris get out from behind your desk and go out into the country come South see in many towns the closed up factories and mills? Most of our furniture now is made in China? Tired of the same ole comment to save us the consumer money these are all lies? Comment now on your show of outrage on Olympic outfits made in China being made by our politicians on both sides as I sit here in my house wearing clothes made anywhere but here in US among many items of furniture, appliances, etc. made anywhere but here in US and we ask where are the jobs? Two guesses? Keep them honest Chris.
Did you even hear what he said?
Mitt was not involved in the day-to-day operations of bain.
The liberals just got beaten down over this BS.
Look out of one eye and listen with one ear is the moto of the left.
And the facts are now in the open, mitt had no say in the day-to-day operations of bain from 1999-2002.
Bad for the liberals, and oblame-the-other-guy..
Sure hope obama is colecting boxes for his big move.
Just because Mitt wasn't involved with the day-to-day operations, that doesn't mean that he wasn't overseeing the company's major decisions and acquisitions. There's a difference between the two.
Romney and his associates can say that a duck is a rabbit as many times as they want, but, if it walks like a duck, quacks like a duck and looks like a duck, it's a duck...no matter what they say or how often they try to say otherwise.
Why would any American believe that Romney had no input into Bain decisions between 1999-2002 (when he was still compensated as CEO) if it directly affected the value of Bain and possibly made him liable for any investments made during that period. If he was really not involved he would have been the worst CEO ever.
Excellent show Sunday. I'm glad you brought someone in who could explain it a little better, what Romney's role was. I'm also thankful your questions were pointed, and resulted in responses that were clear, not defensive, and to the point.
I still do not support Romney, and I do agree with the thought that if Romney had fessed up and said He left in February '99 but still stayed on the paperwork while they looked for a replacement, then this could have all been cleared up.
As long as Mitt Romney insists his business record is his resume, he's opened up the door to focused scrutiny on that subject.
He's just not intelligent enough to see he was baited, hooked, and reeled in.
He's not intelligent enough to be President.
Chris, I'm a conservative from Connecticut who caught your show this morning. The discussion about Romneys time at Bain was excellent, nice job as I have been accustommed to a slanted view but you kept it on target.
Nice job on the Romney time at Bain. I find it is much more enlightening when your guest are treated with respect and allowed to answer questions. Good or bad I was able to learn much about the questionable years, thank you.
you should have had bill black at the table, or randy wray, to counter the bull@!$%# from mitts bain buddy. what does victoria know about the debt? it was a disappointment, comparable to the other bought and sold mainstream bull@!$%# media
didnt romney say that he attended meetings and such when he was running for gov, to prove he was a citizen of mass?
Romney did mention h attended meetings and board meeting and if he attended board of directors meetings thsoe meetings are to give direction to the companies inner workings and management of the board directly to how a company will function to make decisions and profit. So he was out of sight but not out of mind. He als o used the phine for discussion of possible business affairs.
I know this might seem petty, but in President Obama's ad where Romney sings the national anthem, he sings "God shed his GRAPES on thee" rather than "God shed his GRACE on thee." Do I want this man to be President? NO.